Archive for August, 2009
Motivation for Savings
There is not an awful lot of motivation when it comes to your own long-term savings plan. Your broker, or banker, may give you a coffee mug, a refrigerator magnet, or a coin purse from their company but what kind of motivation is that? We need sure-fire motivation that will keep our ‘heels in the mud’ and our heads above water.
Learning your personal motivator will help you in developing a hefty savings bundle without the urge to withdrawal every dime, in the next five years, for that amazing Cancun vacation your friend keep talking about. The younger you are the harder this is. Usually main-motivators are children. Children give parents a sure-fire reason to always have money on hand; while single individuals are more motivated by keeping themselves happy in the ‘now’. If you are an individual then this is the time to begin your excavation toward motivation.
Write down your dreams on a notepad. You must truly dig into your beliefs and idealized visions of what the perfectly planned life will look like in 15-45 years. Most individuals will actually use the idea of planning for a family as an excellent motivator; visualizing the perfect dream home; planning for a boat or a sports car that costs as much as a boat; a life of world travel; ect. Everyone has their own personal dream, or motivation, of why they should begin and then stick to the perfect long-term savings plan.
When deciding on the right terms of saving you need to go for a first, second, and possibly third opinion. Your retirement is like a diagnosis. You will want to get the opinion of more than one specialist to be sure that you are receiving the right treatment. Preparedness is to retirement as action is to indecision. You have to take the first step toward the road before you can decide which road looks best for you. There are quite a few options today. The government sees troubles with the future of Social Security and has since opened interest bearing accounts that are solid and government-backed. Not only does this open one’s eyes to the true impact of a failing government assistance program, but it also shows how important it is for us to take responsibility for our own future. We now know that the government cannot hold the hands of the younger generations as we age and grow more dependant. With this being said, we ourselves, must step up and accept the truth of inconvenience and move forward with strength and resilience. We must work harder than to preserve our livelihood down the road. Saving a dollar today allows us the preparations for tomorrow.
What Do You Have To Lose?
When bills are piling up, late fees are dragging you down, and credit card companies won’t leave you alone at dinner-time, it may be time to weigh the pros and cons of hiring a financial adviser. Have you tried everything and still can’t seem to straighten out the confusion? Some families have far too much under their belt and they may need some help when it comes to figuring out their own finances.
It may not be an issue of having the money to pay the bills, but instead, it can equal to a lack of time, too much confusion, or a bum paperwork filing system. Losing one bill from the mailbox can set you back four weeks and make it even harder to get caught back up. If you are caught in the middle of this situation then it is time to ask yourself: “What do I have to lose?”
Financial advisers are not just here to plan savings portfolios. They are ddvisors; they give advice when you need it most. Even if you have no interest in the stock market, a CD, or a money market account, you can still benefit from some professional advice. Advisors can bring you back to a world of understanding your own finances. To some this can seem impossible, but nothing is impossible. If you have lost your days, can’t keep the payments on track, and you are just fed up, then it’s your time for a fresh start.
Ask friends and family about a local adviser who has a good reputation. Get a reference and set that appointment. Make plans for the kids that night and dive into the meeting head-first. This is the time to learn. Spend a few days in advance making a list of questions that you have. Call the adviser to be sure of the correct paperwork, if any, that you may need for the consultation. Be prepared and you’ll be amazed at how quickly your finances will become clear to you. The process will be enlightening and you will find your way toward financial understanding. This alone can reduce a large amount of daily stress.
Once you have your questions answered and the adviser begins setting up your initial plan, things will unfold quickly. An advisor will show you the easiest method for due-date-alerts, the easiest payment methods such as scheduled (automatic) payments, scheduling using convenient methods such as your cell phone or home computer, the easiest way to save for a special events, and how to take stress out of long range saving. From weekly payments, to pre-payment options, to loan simplification; you will have the control in your hands and this will give you the power to do more than you ever thought possible.