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The Journey of a Lifetime
Imagine you were planning to walk from Orlando to New York. Imagine also, that at the beginning of the journey, your calculations were just a little bit off. You headed out in the right general direction, but you were a few degrees off dead center.
Imagine next, that you made it a part of the process to stop from time to time to check your heading. At the first checkpoint, you found that you ended up a few degrees off the mark. A little disappointing, but easy enough to fix.
Now imagine that stopping periodically to check your heading was not a part of the process. You knew it was going to be a long, demanding journey, and you’d have plenty of time to think about that later. You just kept your head down and set about getting the hard stuff done everyday.
After a long while, when you felt you must be approaching the end of the trip, you realized that you never took the time to stop and check your heading. But, it’d probably be O.K. You knew you were moving in the right basic direction, and you were definitely working hard everyday. Anyway, by the time you finally decided to stop and figure out where you were, you discovered that you'd landed in Chicago, not New York.
Ouch! Nothing against Chicago, but you were headed someplace completely different. You now have an entirely new journey to begin. A journey that you might not have the time, strength or resources to attempt.
Or, you can settle for something that you really didn't want, and live with it.
When contemplating your financial future, be sensible. Try to keep it smart, simple and effective. Work to create a real world plan which reflects your goals and desires.
The following is an outline of a healthy approach to addressing your personal finances. And it’s important to view this as an ongoing process, not a one-time event.
1.) Take inventory. Gather up all your statements, polices etc., in order to get a clear picture of where you stand right now; and
2.) Determine your major financial commitments, desires and goals (college education(s), weddings, dream house, etc.)
3.) Develop a personalized course of action, and implement it; and
4.) Revisit your plan regularly to make sure your staying on track.
No one can foresee the future. It’s tough to say where the stock market will be in 20 minutes, no less 20 years. Control what you can. Plan. Keep more of what’s yours already by utilizing the strategies we’ve outlined. Don’t ever sacrifice quality. Stay informed.
Adopting these common sense ideas can help improve your chances of successfully reaching the goals set for you and your family.
Don’t leave your financial future up to chance. Don’t wing it, and hope that hard work and a little luck will see you through. Don’t end up in Chicago if you really want to be someplace else.
If your financial strategy is broken, it won’t fix itself. You must address it yourself, or hire a qualified pro. And the sooner you do so, the better.
When it comes to building a financial future, time may be your best ally. Use it wisely.
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