aside a set amount regularly in savings or other investments. The compounding
of earnings can be substantial. The longer your investment period, the greater
the beneficial effect of compounding. Click
here to calculate how fast your savings can grow.
in what you know. The better informed you are, the better your investment
decisions will be. If you don't want to learn about investments, consider
hiring a money manager and paying him or her to do your investing for you.
your investments. Have some of your money in an investment that is easily
converted to cash in case of emergencies. The old adage "don't put
all your eggs in one basket" is excellent investment advice.
an annual balance sheet (a list of all your assets minus all your debts)
to determine your net worth. A comparison of your annual balance sheets
will show you whether you're meeting your financial goals.
where you want to be financially by retirement age. Over 90% of Americans
must rely on the government or others for assistance during retirement.
With proper planning and diligence, you can be among those who can retire
in comfort. Click
here to calculate how much you need to save for retirement.
your plan regularly. Review your financial plan often and adjust investment
choices when necessary to keep your plan on track with your financial goals.
use credit to purchase consumption items. Wait until you can pay cash
for things which decrease in value. Borrowing money to purchase a home is
usually a sound idea. Using credit to purchase household furnishings is
off your credit card balance every month. Your credit card should be
used for convenience, not as a source of long-term financing. Credit card
interest rates are much too high.
your investments to maximize your after-tax return. The difference that
a 2% greater return can make in the growth of your investments is dramatic.
Click here to
calculate the monthly yield required to reach your savings goal.
your insurance agent do at least an annual review of your insurance needs
to determine that you are neither under- nor over-insured. Be sure to contact
your agent when you buy or sell any property.