Forget Retirement, Your Not Ready to Retire

As an individuals age and start living in the adult world, retirement and retirement planning become more and more of a topic. The company you work for will ask how much money you want to put towards a retirement plan, investment firms will want business, and more ideas on how to retire rich will pop up on every corner you turn. The only issues is that, retiring rich is good, if and only if the individual understands where they spend their money today.

In the pursuit of a comfortable retirement, many individuals dream of accumulating vast wealth through strategic investments. The allure of retiring with millions is insanely appealing, it’s essential to recognize that the journey to financial security begins with mastering the basics of money. Before one can thrive in the world of investments, understanding and controlling the flow of money is essential. If you cannot control your money while you are making it, how will you control it when you don’t?

The Base of Financial Health

Effective budgeting and money tracking serve as the bedrock for financial health. It is the one thing that builds a successful financial plan. Imagine constructing a bridge on wobbly feet. The thing would crumble the minute a car drove over it. Similar to this, trying to build wealth without a solid foundation is an uncertain situation.

Yes, one can invest into their company without tracking their money, but what if that same individual could invest twice as much when they actually know where they money goes. It is possible.

The Need to Track Spending Habits

To fully gain control of you financial future, it is imperative to track you spending habits. Budgeting is one sure tool that will will unveil these habits. Without it, there is a sure guarantee that money is flying out the door on little unnecessary expenses that people never look at. 25 bucks here, 15 bucks there, all add up at the end of the month. If an individual never tracks their money, these expenses add up huge and can prevent one from retiring with a hefty bank account.

If You Don’t Know Where Money Goes

How will you ever know where the money goes during retirement? Or better yet, how will you ever truly invest for the future to the best of your ability? The key here is to build solid habits around money. Tracking money is a habit one needs to learn how to do early on in their life and engrave it so deeply in their routines that it becomes habit.

Not only will this habit help you once you retire, it will also ensure a deep pockets retirement. The moment one knows where their money goes, is the point where they can easily adjust, cut expenses and put more money in their pockets for retirement. They won’t have to rely solely on their 401k, but have other investments as well.

Now You Know

I am a huge fan of people thinking toward their future, planning for their future and I believe knowing where you money goes is the very first step that is over looked. If you can learn the basics of tracking your money, you will be further ahead than if you don’t. Even if you can only save 5 extra dollars a month, that is a start. It won’t happen all at once and you won’t be come a millionaire over night, but knowing your money and where it goes is the only way to secure the future you want.

The only next step is to dream big and then chase those dreams. Set goals around your money and make it happen. Having some extra cash in your hands by learning how to track your money will surly get you there at a faster pace.

If you need a hand to figure out how to track your money….

Hit me up and I will get you on the right track. Helping people is where my heart lights up every single time.

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