Posts Tagged ‘Financial stability’

In my last blog post I touched on some questions you need to think about while in your 30′s.  Here are some questions for you to ponder for those of you in your 40′s.  Discuss these with your financial advisor and make sure he/she is on your team to help you reach your goals! 

• Are you still passionate about your work or is it time to move on?
• Are you starting over in the wake of financial loss?
• Is your risk tolerance the same now with regard to your money and what it’s doing for you?
• Are you on track to financial independence?  Are you on the path to enough income to work less, and if so, at what age?
• What’s fresh in your life?  What feeds your soul?
• What life have you chosen thus far?

Wondering if your current financial advisor is worth their salt?  During your thirties, here are an example of questions that a good financial advisor should ask you to think about   It’s a good indicator on whether or not your advisor is an advocate for you or not.

• Are you buying a second home and selling your first home?
• What is your marital status now?
• What can you do about saving for your children’s college education
• Have you done any estate planning for guardianship of children, etc.?
• What kind of financial karma are you throwing around?
• Do you live a life of financial lack or abundance?

Be honest with yourself and your advisor to make sure you are moving towards or maintaining a life you love!

Stretched to the max every month and wondering how to come up with the cash to save?  Here’s a tip on getting started.

Save that raise, or at least part of it.  Whenever your employer ups your paycheck, no matter how meager the raise, take at least half that extra amount and use it to fund your long-term, mid-term, and long-term “buckets”.  Think of it this way: Even if you only get a 2% raise, if you save half of it for five years in a row, you’ve just increased your savings level by 5%.