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Financial Planning 101
Have you been working hard for money and still end up broke at the end of the day? Have you ever wondered why you can’t get out of the rat race no matter how big your salary is? Do you find yourself in the same situation 10 or 20 years from now?
These are common questions that you and I probably ask ourselves each and every day of our lives. It’s time to go back to the drawing board and evaluate our current financial situation so we’ll know where to start with our financial planning.
Get a pen and a paper and answer all these questions as you start planning for your future…
Have You Ever Experienced Any of the Following:
DEBTS AND LOANS
* Are you constantly living in debt?
* Do you have any idea how much interest, fees and charges that you pay monthly to maintain this debt?
* Are you being caught in an endless cycle of finance and re-finance?
* Do you need to borrow money to pay debts?
* Are you taking more and more money from your equity?
* Are you building more assets or more liabilities?
INVESTMENTS AND SAVINGS
* Are you saving or investing at all? If so, what type of savings and investments did/do you have?
* Do you know the reason(s) why you save?
* Are you investing because someone told you to or because you knew how to do it?
* Are you getting your financial advice from an outside source? A magazine? TV show? Newspaper?
* Have you tried sitting down with someone in the financial services industry to learn why and how to save and invest?
HEALTHCARE AND INSURANCE
* Having an insurance and healthcare policy without knowing what kind it is and how it works?
* Not knowing if it provides proper protection for your family?
* Not knowing how long your policy will last?
* Not understanding your policies?
* Feeling that you didn’t get your money’s worth?
The list is quite long but if you’re really serious about securing your future and your family’s, you wouldn’t mind spending some time going through the list over and over. You see, financial planning starts with asking yourself these questions. You need to start from point one to reach point two. There is no shortcut to financial security. Building your wealth legitimately isn’t quick, but it doesn’t necessarily mean that it’s hard.
Evaluating your financial situation may provide you the “Why?” and the next question should be the “How?” How do you start building your riches? Saving in the bank with 1% per annum interest rate?Heck that’s gonna take you 72 years to double your money.
Just to name a few, investing in mutual funds and health savings account will surely let you retire a millionaire. Contact a local financial consultant to know more about your options. These people have a solid knowledge in the financial industry that will surely help you retire a millionaire.
Financial Solution 101 – Evaluate Your Financial Situation
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