Why do we all need financial goals for a successful retirement? We spend more time planning the family vacation than we do our financial future. That’s a bold statement that Chistopher Calandra, a Certified Financial Planner. I think this is a shocking statistic but unfortunately it is true. Are we so busy living our lives that we don’t step back and have a look at where we are heading?
Long term goals may be hard to get your head around. Once you stop and see the importance of setting some financial goals then you will be on your way to securing your financial future.
If we are lucky we may have been brought up in a household that valued saving money and putting it away for a rainy day. When we get that first payday most of us are dreaming of what we can buy. We can go out and buy that nice dress, pair of shoes or go out to a nightclub and let our hair down. There is nothing wrong with this as long as we have some financial goals to put some money aside.
Unfortunately not all of us are exposed to the idea of saving money and investing it to make it grow. We need to establish the importance of putting money aside on a regular basis, and the sooner we learn this, the better off our long term financial future will be.
We all secretly hope for that impossible inheritance
or that wonderful win on the lottery ticket we purchase faithfully. Stop and think for a moment of the stories we hear of people buying everything that opens and shuts and ending up with nothing for retirement. If we have not developed any habits about saving and investing money then all we can think about is how we will spend the windfall. We need to give regular attention to the value of saving money and learning about investing.
It is something we can all do and the more we practise the better we will get at preserving our future. This is the reason I am so excited to talk to Christopher Calandra from Elliot Wealth and learn more about the steps we can take to securing financial freedom.
The message is very simple
– the earlier we start the better. Even those of us that are getting closer to retirement can still put measures in place by seeking help and guidance before it is too late.
1:50 Introduce Christopher Calandra, CFP, Elliot Wealth Management Services
3:30 Planning late in life. The disconnect with Financial Planning
5:50 Where do you want to be in 30 years time?
8:15 Pay yourself first – you need an investing system
9:30 Can’t rely on the government
11:10 When should you start saving?
12:30 Understanding margin of error
14:30 More tips – how to keep track of your net worth
18:00 Have financial goals
20:50 Myths about the size of the nest egg
22:45 What is liquid net worth?
Connect with Christopher online
Have you listened to the last episode of Retire Well Retire Happy Podcast?
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