Life can become so cluttered that we find ourselves directionless. Unless we’re willing to stop, we will wind up somewhere, but where? Here I will share with you some guidelines to help regain control.
- First, take a moment to think about who and what is most important to you. The decisions you make or don’t make will have consequences.
- Do you take time each day to address your health and physical fitness?
- Financially, do you know your income and outflow? If your outflow is greater than your income, we must address that first.
- Have you protected those you love? What happens to your family if your are no longer here? What happens to your family if you can’t work? Can you protect them for pennies on the dollar? Do you have children. If so, who will be their guardian if something happens to you and your spouse?
- Do you have any emergency assets should you lose your job? How long could you survive as a family?
- Non-Retirement Assets: Once we’ve navigated the above areas, this is we build freedom. Think about creating other sources of income and assets or real value.
- Retirement Assets: Much of our focus today seems to be here. While it is important for some, it is also the most restrictive. It is also the area where many people fly blind. What do you have? What risks are you taking? How much are you paying? Is there better alternatives.
The earlier you start on these, the better. When should you start? NOW!