Here’s how financial planning can truly make you a winner.
1. Do not leave your retirement years at the mercy of the Social Security. You may be devastated when you do. The Social Security may be regarded as a safety net for your retirement but you cannot fully rely on it since it is heavily dependent on the nation’s political climate. Hence, do financial planning if you are wise.
You can start setting aside some money today. When you receive your paycheck, develop the habit of slicing away a small chunk from your monthly budget to place on your retirement fund. When you do this consistently, you will be amazed at how easy and enjoyable it is to secure your retirement years today.
2. Put your child’s future career forward. Secure his college education today. Most students resort to borrowing and by the time they finish college, they face piling debts. So it makes sense to systematically plan for your child’s college education now. Periodic investments into a college educational plan would surely ease the burden.
3. Unexpected events are debilitating, especially when you are unprepared for them. It is frustrating to bump into a rare opportunity but you don’t have the resources to take advantage of it. And it is irritating to face an emergency when you don’t have the reserves to deal with it. Setting up an emergency fund requires intelligent financial planning. At would save your family during the rainy days.