Knowing how to manage your money and make it last is essential in any financial plan. And while putting cash aside might seem ‘pretty easy,’ there are necessary steps for managing your own (without sabotaging your retirement funds).
Whether your goal is to save for your next trip, buying a new home, or even “just to have cash on hand,” you can still live the life you want today while ensuring your income for tomorrow.
In this episode, I discuss why financial planning doesn’t have to be ‘all or nothing’ in your budgeting – and how the right strategy protects your portfolio for decades to come.
Show Highlights Include:
- How the ‘Diderot Effect’ steals from your savings and what you can do to successfully manage cash flow in the future. (1:20)
- How to accurately define your money goals and where the 70/30 rule plays a part in your cash-saving strategies today. (4:25)
- How to avoid ‘tunnel vision’ while saving for the next big thing and still live the life you want (without ignoring any bills or lingering debt in the process). (9:50)
- Why your financial plan is like designing a car and the investments you need for protecting your lifestyle and preserving your income (without facing engine failure down the road). (16:02)
To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/ or call us at 805-409-8150.