Planning for your financial future is often that thing that you know you need to do, but procrastinate the process. Many people feel fear of not being able to meet the retirement they want. Here are 4 reasons to start planning today:
- Each year you delay financial planning, the more difficult it becomes to meet the goals that you have set.
- Often times people take risk in their portfolios because they feel that they need to make up for lost time. If you build a plan you may learn that you don’t need to take on as much risk as you thought to reach your goals. The benefit is that when we fall into a recession you won’t emerge with that same feeling, but rather a feeling of reassurance that you are on track.
- Employers can make modifications to retirement plans; sometimes raising their match rates. If you create and maintain a financial plan it will set a review process that will make sure that you are not leaving match compensation on the table.
- Everyone thinks about how they can build wealth and achieve their goals. Very seldom do people think of the common risks that can derail a sound accumulation plan. Whether it be premature death, disability, or long term care needs, proper financial planning can help prepare for unwanted events that change everything.
Hiring a planner can help alleviate the burden of making sure you have accounted for everything. It can also help you smooth out the process as they can provide helpful insights that you may not have considered.
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Always remember that while this is an investor education piece, this does not trigger or relate to trading activity on your account with Financial Future Services. This article is for informational purposes only and not intended as a recommendation. Each investors circumstances are different and a full review of you situation is necessary for a recommendation. Any and all third-party posts or responses to this blog do not reflect the views of the firm and have not been reviewed by the firm for completeness or accuracy.