Posted on 08/11/2022 10:47:18 AM PDT by allen592
Handling your finances can be a tricky balancing between short-term needs and wants and long-term goals. After all, there’s much to take into account, ranging from this week’s groceries to your retirement fund. Unfortunately, you never know what unexpected events are right around the corner, waiting to cause you headaches and heartache. To ensure security for your future and the future of your family then, financial planning is critical to making educated choices regarding your money.
neil boortz had a suggestive plan, concsrningeither a five dollar or ten dollar bill.
with either bill, you do not spend it, and put away each time you have one of the bills.
at the end of a month, or a year, see how much you have savedd.
I recommend 70% at least in equities. But that means diversification is even more of a must.
Also, purchase lottery tickets ;-)
Missed one:
8) earn a billion dollars.
Here are some things a retired and married Christian man did to reach financial security:
1. Live below your means. This requires sacrifice and deferred gratification.
2. Fully pay your monthly (cash back) credit card balance.
3. If you have a mortgage, pay above your monthly required payment.
3. Give to the needy and support the gospel.
4. Invest part of every pay for the long term (401/IRA). When you're young, 500S&P fund with low expenses (Vanguard).
5. Contribute to your children higher Ed via affordable online accredited colleges/universities.
Sounds a lot like Dave Ramsey recipe.
Listen to his show and you’ll know what to do.
Or read “The Richest Man of Babylon” - a superb and simple guide to becoming financially secure.
The first requirement is that you must really, really want to become rich or well off - ie you have to gladly accept that at the beginning you have to make some sacrifices.
As Ramsey puts it “you have to live like no other else, so later you can live like no other else.
You may have forgotten two:
Don’t commit or spend more than you are making.
Expect that possibly by the time you can afford something, you will need the worth somewhere else and you probably can’t afford both. There is no this is the way we did it in the past. Choices.
wy69
Financial planning and living on a budget.
I had a solid financial plan then the democrats stole the election!!
.
How To Build A Solid Financial Plan In 1 Step.
Talk to Pelosi
spend less than you make. pretty simple.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.