There is precious treasure and oil in the dwelling of the wise, but a foolish man swallows it up. – Proverbs 21:20
Where do you spend most of your time focused on? The past, the present or the future. I used to hear a phrase that I always liked, “She is so heavenly focused that she is no earthly good.” While we could all use a little more focused time on our future heavenly home, the future we are talking about today is a little closer than our trip over yonder.
With most of our clients, we usually try to discern if they are a Giver, a Spender, or a Saver. While the Givers and Spenders tend to look at the present (with a view towards the future), our Savers are most definitely focused on the future. They are concerned about being prepared down the road.
When it comes to savings, there are four key funds that we should be focused on- The Rainy-Day Fund, The Retirement Fund, The Recurring Expenses Fund, and The Really Really Want It Fund. We need a savings strategy to get money into each of these funds.
Continue reading “Are you SAVING for the Future?”
This should go without saying, but Grandma was right. We should all be saving for a rainy day. When I was in high school, I lived with my grandmother. For my senior project, I had to interview someone who had lived through the Great Depression in the 1930s. So I sat down with my grandmother at our kitchen table and helped her remember things that had happened to her 50 years prior.
“It’s the most wonderful time of the year…for the credit card companies. There is much jingle belling and hearts will be telling of credit galore. It’s the happiest season for more.” Ok, so I reworded the old classic Carole. But someone needs to say it, “don’t spend more than you can afford on Christmas- this year.” Reign it back in if you didn’t save well. 
I have been doing a lot of thinking lately about retirement. Unfortunately, I am one of those guys who didn’t listen real well in the Investment 101 class. Come to think of it, I am not sure I got invited to the Investment 101 class. I heard about it and even got some of my friends who shared some of their notes and highlights with me. Best I can remember, the curriculum is pretty simple: invest money early in your 40 year working life and that money grows over time and will hopefully grow enough to tide you over in your 20 years of retirement.
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