Shape Your Future - Goals to Get You Started

October 14, 2019

Practical matters

Consider all things nitty-gritty. What are your family’s immediate and long-term financial needs?

  • Aim to save 10% to 15% toward retirement each year.
  • Take advantage of tax-deferred or tax-efficient accounts.
  • Pay bills in full, on time whenever you can.
  • Pay off any high-interest debt.
  • Save for college.
  • Maintain a “what if” fund to bridge any gaps in cases of emergency or opportunity.

Living the dream

Get ahead of the game – careful consideration now can help you reach your future goals.

  • Aim for you and your spouse to retire early and still delay Social Security until full retirement age.
  • Develop a budget and track income and expenses. Spend less than you earn.
  • Build credit by leveraging good debt for large purchases like a home or advanced education.
  • Save for something fun, perhaps a family trip to Cinque Terre.

Family first

Reflect on your loved ones. Do you have the right strategies in place to ensure they’re taken care of?

  • Buy the appropriate amount of insurance, including long-term care.
  • Create a will, power of attorney and other important legacy documents. Before you need them.
  • Discuss mid- and long-range plans with your partner/spouse and family, as well as your financial advisor.

Plan for more

Go above and beyond to make the most of the goals you have in place.

  • Reassess your risk tolerance and make adjustments to your financial plan.
  • Consider your options with any retirement funds still lingering with an old employer.
  • Set – and regularly review – your goals and progress with your financial advisor.
  • Establish buy/sell criteria with your advisor, so you can make decisions about cutting losses or reinvesting in a rational manner.
  • Take advantage of employer benefits like health savings accounts, flexible spending accounts and retirement plan matches.
  • Understand the investments you own and how they work together.

Think big – your goals should help drive your purpose and decisions in each season of life. Speak to a trusted advisor as you assess any life changes and new opportunities.

All expressions of opinion reflect the judgment of Raymond James & Associates, Inc., and are subject to change.

November 23, 2022

Investing and Politics – Are They Connected?

November 9, 2022

7 Ways Women Can Dominate Finances

Making Life a Richer Experience