What About Financial Planning?
My easy answer is if you have it, that is financial planning, life will work out for you. If you ignore it then things could get a little dicey.
Let’s say you are happy worker A with a good job and five years go by. You’ve been spending that nice income and have run up a couple of credit cards and things are beginning tighten up.
Meanwhile happy worker B has made a plan. The plan says he saves 10% and doesn’t use credit except for the big things like a house and maybe a car. Now five years go by and B has a nest egg of maybe $20,000 or more.
Who has more choices in life? What will happen after 10 years?
Is all lost for the now unhappy worker A? Not at all, A just has to dig out of that hole and he may need some help seeing his options.
On the other hand, happy worker B might want to look into ways he can maximize the savings he has put aside. If he didn’t have a financial planner before he might want to find one now (River Bend Financial Group has done a good job for me).
A friend who was much like unhappy worker A after 10 years: recently woke up to that fact. He had some assets but had let his business taxes get behind and piled in some debt and had some fairly serious problems. He went to a financial planner and is now on the way back thanks to the help he has gotten.
There are many other resources out there. Dave Ramsey is popular right now, he has a daily radio show, a cable show on The Fox Business Channel, a web site, and books. If you are looking for self help you might pick up Dave’s book: Total Money Makeover.
My friends it is your life. Nobody will do this stuff for you – there is help, but in the end you make of your life everything that is good and bad about it. Take this responsibility, it is yours whether you recognize it or not. If you take it you are half way home and headed the right way.
If you’d like to learn more about making your life successful go to www.TheRealMikeGriffin.com and listen free to “The Science of Getting Rich.”