Financial planning means freedom of choice – home station | KHTS FM 98.1 & AM 1220 – Santa Clarita Radio

Some people roll their eyes and nod off at the mere mention of financial planning. Admittedly, the nuts and bolts of practice can come across as dry and math-heavy. However, consumers should take a second look at long-term money management. Hiring a licensed planner can turn your lifestyle into one of exciting, rewarding choices and options. Plus, when you work with an experienced CFP (Certified Financial Planner), you don’t have to worry about number crunching. Still, you have the opportunity to review alternatives, contribute raw data, and discuss opportunities before putting a plan into action.

What are the advantages? In addition to being able to retire early, careful money management provides people with detailed strategies for starting a business on the side, doing charities, traveling to exotic locations, and covering some or all of a child’s college education. Here are just a few lifestyle upgrades you can get if you make smart plans well in advance.

Retire early

Wouldn’t it be nice to retire 65 years ago? Many hard-working adults think the same way, and invest hours and hours trying to save enough money for early retirement. But the trick is to come up with a detailed plan as early as possible and stick to it. For adults between 20 and 30, the power of compound interest is one of the best weapons they have on their side. This is because they regularly save smaller amounts and can use the power of time to build up a considerably large nest egg for retirement.

Paying a Child’s College Entrance Fee

Remember, creating a financial plan doesn’t mean you have to pay for everything up front. In many cases, borrowing as part of a comprehensive long-term plan makes sense, especially for big things like a college degree. If you want to cover some or all of your children’s schooling costs, affordable private parenting loans can help you achieve that goal. For example, parenting loans mean that you, not your children, are responsible for the repayment. For example, let’s say part of your goal is to get kids through graduation day without them expecting a heavy burden of educational debt. In this case, private parenting loans are an effective solution for many parents.

Own a company

Careful planning means that in addition to the nine-to-five job, you can set aside enough capital to eventually own a business on the side. This clever strategy opens up all possible possibilities for people who want to invest in rental property, set up their own service company or acquire a turnkey franchise. If the side business is successful, you may be able to say goodbye to your job and rely on the income from the new company.

travel

Middle-aged people and retirees often focus their financial goals on one thing: the opportunity to see the world and travel extensively when professional responsibilities wear off in later years. If you’re the type of person who equates retirement with global travel, start building enough cash now to help shape your plans. Even if you are savvy enough to travel efficiently on a budget, the places and frequencies of travel can add up after your career.

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