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Financial Planning for Life

February 10, 2016 | By More

Saving for your retirement Financial planning over your lifetime is key to a stable financial life.

The importance of financial planning over your lifetime is key to a stable financial life.

Once a person becomes employed, goals need to be established for financial success. Saving a portion of your income from each paycheck should be a priority in order to have an emergency fund. It is also very important to save for retirement in either a 401k or IRA on a periodic basis.

Discipline is key to savings over a lifetime. Read various articles and publications, which are easily accessible, to help you achieve your financial goals.

We should ask ourselves why money is important to us. This will guide you on every financial decision going forward. Once those decisions are identified, you can make financial decisions based on your values.

Three major financial planning goals that are important to most of us are:

  • Fully fund retirement accounts each year
  • If you have children fund their education accounts every year
  • Save for an affordable house if you do not presently have one

To accomplish financial goals, it is important to know your net worth. Budgeting is a tool for awareness to help with financial behavior change. Paying off debt is crucial in having a stable financial life.

Invest for a lifetime not for a short time and hire a financial planner.

Contributed by Gordon L. Amgott – MBA Finance Certified Public Bookkeeper
Gordon L. Amgott Financial Services is located in North Dighton, Massachusetts. For more information or to contact Gordon L. Amgott, visit http://www.amgottfinancial.com

Article information should not be used exclusively to make legal, financial or tax decisions. Because laws and rules can change frequently, topics may not always be updated to reflect these changes or may not apply to your unique situation. It’s prudent to seek out the advice of a professional for your specific needs.

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Category: Personal Finance

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