Review Time 6!
It’s time to take a break and review. Taking the time to review and assess our situation is always a worthwhile investment of our time.
Lots to review
We have covered a significant amount of material since our last review. Do you recall when I mentioned that developing your financial plan would be one of the most challenging things you'll do in life? Now you know why! You should have most everything you need to develop your plan at this point. Remember that we must figure out “YOUR Number” first and work backward. That is a challenging thing to do and you likely will need help from a financial professional. Take your time with this decision! That’s why I’ve been taking it slow and trying to provide you with all the information you need to make an informed decision. I hope that after this review, you are able to complete your financial template with YOUR NUMBER!
I’m not going to go into a lot of detail in this post. Each of the previous posts, going back to the last review, is quite detailed, so I would recommend reviewing them for any needed details you may have missed. Of course, rereading the previous posts is always a good investment of your time. Let me take them one by one:
Remember D-Day. Remember the sacrifices of those who went before us that allow us the freedom and opportunity we enjoy today. Remember that freedom is never free and is paid for by those who gave the ultimate sacrifice.
Remember your father and mother and the lessons they taught you. Yes, I know that not everyone had a good upbringing. My challenge to you, in either case, is to use this as a learning opportunity and ensure your investment in the next generation is a good one. Investing in the next generation is literally the most rewarding thing you can do.
Reading is an excellent way to learn and a great use of your time. Remember that not all readers are leaders, but all leaders are readers. Think about that the next time you decide to spend some time mindlessly scrolling your phone. You know I’m right!
Part of determining your financial future is to define what it means to you and your family. No need to keep up with the Joneses. That will never work and is a recipe for failure and frustration. Your financial future is unique to you and no one else. Besides, the Jones family may not be the model of financial stability you think they are!
What’s “YOUR Number?” One of the most significant decisions you will ever make.
Free stuff is not necessarily free.
Remember the 5-second rule. A few seconds can change your life—for the better or for the worse.
Factfulness: Understanding the facts is essential. Just because we think we know something does not always make it accurate. Know the facts so you can make your best decision.
The power of habit: Good habits lead to good outcomes. Bad habits? Probably not so much.
It’s been said that it takes 10,000 hours of doing something to become an expert. Are you an expert in anything? Do you want to be? Maybe you don’t want to be an expert, but I’m confident you want to be better at some things than you are now, so you now know what you have to do.
Social Security and Medicare. Yes, you need to understand them. The sooner the better.
Taxes are an important part of your financial journey, so it’s best to learn about how they affect you.
What the government does indeed impacts each of us.
Many factors determine our financial future. We covered a lot. I mean A LOT!
That’s all for this week!
Review Time 6!
Afterburner Success Partners
http://absuccesspartners.com/
What’s in it for me?
We all want financial security, don’t we? Rather than leave it to chance, let’s get on a path so we can know for certain! And that’s what’s in it for you this week! (Note I’ve pretty much been using this same “What’s in it for me” theme for a number of weeks now. I’m not lazy, I just want to ensure you realize that your financial future is determined by you and what you do now. Yes, today!)
Call to Action
Review the previous posts on How much you need to retire, as well as posts on templates, if necessary. Hopefully, you have begun to think about how you want your final financial template to look and are getting a general idea of what “Your Number” should be. That’s a lot, but now is a great time to ensure you’re up to speed so you can benefit from all these posts. Again, repeating the same call to action. Because it’s that important.
Recommended Resources
Any and all of the previous posts, note links, and recommended resources can help you. That’s why I listed them. Use them!.
Up Next
How much do I need to retire, or what’s MY NUMBER part 6.
Notes
Please note that as an Amazon Affiliate, I may earn a small commission on the sale of any of these recommended resources.
None this week.