The concept of retirement is a young ideal in the history of mankind. Throughout most of human history, people continued working or remained with their family as they aged. It wasn't that long ago that the Golden Years of life were characterized by part-time jobs and taking up residence with grown children.
Everyone should have financial goals to ensure that their money is spent wisely now, and invested wisely for the future as well. Setting financial goals is, generally speaking, a generic practice, with basic principles that are applicable across demographic boundaries. The following tips will help anyone establish solid financial goals.
Establish SMART Goals
The vast majority of individuals go through life without paying much attention to the flow of their finances. Most people know how much they make and ensure that their bills are paid, but how do you look at your budget? Do you know how much you spend on certain activities, such as entertainment, groceries, and gas?
Some people just love handling their finances. The Wall Street Journal and Barrons are their favorite bedside reading, and they wouldn't dream of turning in for the night without one last glance at how the stock market finished the day.
As a child, if you ever went on a road trip with your family, you may remember your parents buying a map and plotting out a route to reach your destination. When you think about reaching your financial goals, remember that your journey to accomplish your goals is much like the road trip as a child.
At Financial Asset Management Corporation (FAM), we understand that with the evolution of the Internet and social media, the way our clients consume information and communicate is changing. To accommodate your preferred methods of communication and research, we are excited to present new business tools to service and provide valuable information to our clients and friends.