Guiding consumers since 2009

Financial planning is formula for success in life

By Staff Writer

Not taking good care of financial planning is as irresponsible as taking a haphazard attitude to family planning. The risk of a dramatic effect on one’s life is equal in either one of these mistakes.

The common factor in every article I’ve ever written is effective financial planning. I am passionate about trying to help people achieve their due rewards. I am relentless in my efforts to protect as many people as possible from ending up poorly equipped in their retirement years. In my 43 years of experience in this industry I have seen too many unfortunate cases that could easily have been avoided if people had their priorities right from the beginning.

What is the point in working so incredibly hard all your life if you cannot enjoy your retirement?

My formula for success applies to everyone. If you are in your 20s, add 30 years. If you are in your 30s, add 20 years, if you are in your 40s, add 10 years and so on.

Whatever your age, step out of it and take a mental photograph of yourself at age 50. Take a long, hard look at that photo and ask as many questions as you can.

“What will I look like at that time?

“What will my family look like?”

“How many children will I have?”

“Where do I want to live and what car do I want to drive?”

“What if I am divorced?”

“Will I own my own business?”

Because we are all different, we have different concerns about our later years believe me age 50 is not that far away.

Without ambition it is difficult to function properly. It is the glue that keeps life’s initiative on track and our purpose intact.

Once you have finished looking at your photograph and have a clear understanding of what your ambitions are, where you want to be and what your broad surroundings look like, take positive action and start along the path that will enable you to achieve your ambitions.

To achieve your goals, you will have to be disciplined and stop to check your compass at least once a year to ensure that you have not deviated from your original path. You will also need a co- pilot a financial advisor who will read the radar screen accurately and who will take over the controls and steer you through the storms you might encounter along the way.

Both of you need to ensure that your relationship is completely open, absolutely trustworthy and long term.

Your financial advisor must have the knowledge, experience and interest to make sure that you arrive at your financial destiny well on time.

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