An Excerpt from Money for Retirement
Planning, like eating right or exercising, is a habit we must often force ourselves into. It's not always easy, it's rarely convenient, and quite often it's downright painful, but they don't call it "financial planning" for nothing. Look at me; I've made a career out of planning for the future, and not a day goes by that I don't learn something new or find my job fascinating. Numbers are often intimidating; I know that. I get that. But these aren't random figures in some junior high math book or factoids in a trivia puzzle. These are your numbers; this is your life we're talking about here. Isn't it time you took hold of the reins and started steering your finances in the same direction as the rest of your life? To do that, it will take careful, prolonged, and very specific planning. We're not talking rocket science here, though if you have trouble balancing your checkbook it might feel like it at first! Still, time must be taken and attention must be paid to the particulars of your financial past, present, and future. This includes sitting down and staring at your whole financial picture square in the face. Knowing where you are now is the best place to start preparing for where you want to be in the future. It can be hard at first, I know. Financial statements pile up, and aren't that easy to read to begin with. In this case, it's important to start somewhere, so why not start where you are? If you're using one bank now for all of your financial services - checking, savings, money market, 401(k), automatic bill pay, CDs, etc. - learn everything you can about this institution. Study its Website, swing by the nearest branch office on your way home one day and grab all those fancy brochures you've been meaning to read for years. Then read them! You'll be amazed at how quickly you pick up certain terms, rates, deadlines, fees, etc. You may even be surprised you went so long without doing it in the first place. And, frankly, that's my hope. Financial planning for your retirement is like exercise; it can be difficult at first, but will eventually become a habit. Exercising is a habit more of us should get into, and one that those of us who are already into typically enjoy. It's rough at first, sure, and maybe we still have some pounds to lose or we make excuses for exercising more than we actually do it, but when we do exercise, when we do practice that habit, we feel pretty good, don't we? Same with eating right, another habit I compare to planning for your financial future. We all know the difference we feel after eating a pizza for dinner and bowl of ice cream for dessert as opposed to how we feel when we dine on, say, a broiled chicken breast and fresh broccoli. Maybe we don't feel as full, but we sure feel a whole lot better, right? It is my hope that planning your finances becomes like that for you; tough at first, but well worth the effort down the line and, hopefully, just as addictive as jogging or going to the gym!