February 13, 2013
Subject: Retirement Readiness NOW
Start a Spending Plan
A spending plan gives you control. Your plan will clearly show how much money you have coming in, what you’re spending it on and where you can make trade-offs to come up with extra cash. It’s also your first step in meeting larger financial goals. With a spending plan in place you will be better able to find the money you’ll need to reach them.
The FINRA Investor Education Foundation developed this 6 step action plan to help you develop a spending plan.
Retirement Readiness NOW is not just about saving money and not just something you do just before retiring. Money is very important, but that’s not all. There’s a lot more to planning for your future than putting aside income out of each paycheck for retirement.
What else is there?
Happiness, both today and in your future years, is based on your total well-being. So, when planning for your future, you also need to consider your total retirement well-being that encompasses the following:
Networking - What are you doing today that will allow you to be engaged, challenged and fulfilled in retirement?
Overall Health - What are you doing to stay healthy so that you can enjoy your retirement years?
Wealth - How well are you managing your income and investing for your future so that you will be able to support your desired lifestyle in retirement?