Whether you are less than a decade away from retirement or at the beginning of your career, it’s important to have a saving mindset. How can you make sure you are retirement ready?
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Other Retirement Facts:
Are there ways to shift your thinking toward good savings? Most of us aren’t geared toward savings by default. What can you do to better save for the future? What are your goals–be it for retirement, buying a house, providing for a family, or whatever your next financial goals might be?
Phil recently met with a client in his 20s who is already looking to what his goals are for both the near future and retirement. He wants to know what kind of financial plan he should make and what kind of financial stuff he should know. Even though this client’s friends may tease him or question why he’s getting started at such an early age, his decision to save will pay off in the long-run. What does that look like to start saving from an early age? What kind of plan does it take to reach your goals?
Whether you started saving from a young age or you’re playing catch-up now, don’t feel like it’s too late to get started. Better to start now than not at all. Implementing a plan (and perhaps even a budget) will help you better achieve your financial goals.
Listen to the entire episode or click on the timestamps below to skip ahead to a particular segment.
0:25 – What’s one of the latest coronavirus-related hot ticket items?
1:24 – What can younger clients keep in mind when saving for retirement?
3:15 – Most of us don’t have a good savings mindset.
7:26 – We have to pay our future selves.
10:54 – Ramp up the discipline.
Thanks for listening! We’ll be back with another episode next week.
A Quotable Moment:
“Don’t let your income determine your spending. If you’re doing it that way, you’ll never save and you’ll never earn enough.“