Re-discovering the Fundamentals of Financial Planning
To lose weight in the 80’s, we went on low-calorie diets. In the 90’s, we switched to low-fat diets, and now, in the 21st Century, we are completely convinced that it’s all about the low-carb diet. What ever happened to just eating healthy?
In Ноутбуки Hewlett Packard a culture where everyone is looking for shortcuts, it’s not often that you see something about fundamentals. Well, take note of the following three basics of financial planning, because it may just be what’s been missing from your ‘plate.’
1) Have a goal in mind! Savings are only as useful as your desire to apply them to a specific purpose. If your goal is a new home, great; if it’s to send the kids to Fordham, even better; and if it’s retirement, terrific. Once you have the “why,” you
must determine “how much,” and “when.” These two variables will determine how aggressive you must be, as well as how much of a present sacrifice you’ll need to make in Gorenje GIN 52260 IW order to reach your goal.
2) Spend less than you earn! If you’re a bit late in the game with this one, then the first order of business is to minimize your debt. The common American philosophy is to spend first, and save what’s left. Contrast this HANSA FCGW 64001010 with the Eastern tendency to invest first, and spend what’s left. Can you guess which approach is more likely to lead to wealth? Many people will admit that it is unreasonable to buy a 50” plasma television if the only way to pay for it is with Kaiser HC 60070 KW a monthly independence mo realestate installment plan. Why then don’t we Pulga homes apply the same philosophy to buying a 7 Megapixel camera home? When considering rent versus a mortgage, it is generally advantageous to have the mortgage. However, replacing the five-bedroom home with a nine-bedroom home before the five-bedroom has been paid off simply doesn’t fit the model.
3) Invest monthly, and start Красота наших волос now! $1,000 invested monthly is a heck of a lot easier than $12,000 at year’s end. Add to that the concept of dollar-cost averaging and more often than not, you’ll Вилючинск also earn more over time. Finally, because of compounding, the sooner you get started, even at a small amount, the less time it will take to get wherever it is you want to go—even if that includes a stop along the way for a low-carb tofurkey salad.
© 2004 Matthew S. Clement, All rights reserved.
Matthew S. Clement is a financial planner and investment advisor representative with Financial Network Investment Corporation, member SIPC. He provides holistic wealth management and retirement planning to individuals and businesses. He can be reached in New York at (845) Canon PowerShot A650 IS 942-8578, or by email: ClementM@FinancialNetwork.com.
Attitude Adjustment Needed
Life is a series of choices. Decisions control your life. Thoughts are major factors in success or failure. You must take stock of your thoughts and make attitude adjustments when necessary to change to the appropriate mood. You have permission to publish this article if the resource box is left intact.
We all need an attitude adjustment once in a while. When you are in a sour mood, you cannot do your best. You have the power to control your thoughts. There are different ways to look at anything. You can choose between positive, negative and indifferent thoughts. When you get started thinking in the wrong way, it can lead to disaster. Our thoughts control what we do and how well we do it.
When you do things in the same way, for a period of time, it becomes routine and you operate on automatic pilot. Your mind plays back how you did it before, and you do not think consciously. It is like typing. My conscious mind does not know where the keys are, homes palm desert but my fingers do!
Too much unconscious or concentrated conscious thinking can hypnotize you. That is why you Дмитрий Медведев need to take frequent brakes Videoman digital camera to reset your mind. You need both parts of your brain, but you should not go off and leave the wrong one in charge.
Both positive and negative thoughts serve a purpose,