April 25, 2008, Newsletter Issue #95: How to Create a Financial Plan
Tip of the Week
Just like any other major event in your life; you should set plans and goals for your financial future, especially for your retirement income. A Financial Plan is a written summary of your goals as well as a step-by-step method for achieving them. Many people dream about their retirement future, but neglect to take the time to map out their financial path to their golden years. By creating a Financial Plan, you have a greater chance of reaching your financial destination. Here are some things to include in your financial plan: · Assess all of your financial income and put it in writing. Organize all of your financial documents so that you have a clear view of how much you are making. · Determine whether or not your income level is satisfactory. If not, you will need to plan for changes. · Plan ahead for the future and determine how much you will need to attain your future goals. · Determine your realistic financial goals. · Devise a workable strategy to achieve your goals.
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