Accountancy Resources
Investing in your future is more than simply putting some money aside each paycheck and hoping it grows in a savings account or in a mutual fund or a 401(k). While the financial aspect of investing is paramount, it really flows best out of a holistic approach towards life, health, family, career, and future goals. Each of these aspects of life determines the true value of your financial investing and will help determine the quality of life you want to build towards.
They are interlocking, affecting one another, congruent, and in need of proper balance so the overall value of your financial investments benefit. This piece is simply about developing financial priorities that will inevitably bring about results many dream about yet let go unfulfilled. Also, there is no way anyone can be perfectly measured in all of the following, but it is possible to continue maturing in these areas so as to reap the real rewards of life and harvest the goals you have set forth and to do so with greater joy than just what money provides. Though, money is hugely essential as a heavy beam undergirding a floor would be.
Following are the 5 essentials of life that will help you make the most out of your financial investments. Investing in yourself and your family will bring about a financial reward that had you not done so.
We get one life, so it is easy to be duped into thinking it is about us as the sun rotates around us. The truth is, it is about us, but not in a selfish way. Investing in our lives means valuing that which is most important and pursuing it vigorously so the return we are seeking is realized. To break it down into bite-sized portions, if new sow into others, we will reap a great reward. Being involved in your community on some level will reap rewards as well, but you are to first sow into your family, thinking not only about their immediate needs but those of their future. This means, in part, investing in the right life insurance. There are so many available types of life insurance policies and providers that it may be tough choosing the right one.
There are other life insurances, and we will look at a few more in the remaining sections of this piece. But know that the right insurance will save you money, but, as importantly, save the loved one who remains money.
Obviously, no one needs to tell you to eat well and exercise. But doing so can save you lots of money in medical expenses and more. This money can be used to increase your savings and investment dollars to help it grow that much more quickly so you may realize your financial goals at a much faster rate. Health insurance has been a big topic in the news for a number of years now and will only get bigger as Obamacare is fully integrated into society. One way or another it is important to have health insurance whether it is provided through work, government, or purchased independently. To be underinsured or uninsured can wreak havoc on your investment plans. If you get sick and are unable to work, or get injured and are unable to work, then savings and investments may be affected, which could either slow or reverse your investment goals. Following are a few insurance options for health and injury:
Besides quality time with your family, special outings with loved ones, and mutual family traditions, important future events like saving for college, ortho-care, summer camp, and more, for your family is all a part of your monthly investment goals. Allowing your money to grow to cover these expenses is essential to long-term financial sustainability. The following insurances are oriented towards the family:
Unless you are content to be in the same job your entire life, you may not need to invest much in your career, and this will slow and hamper your ability to invest more aggressively to meet your financial goals. Still, if you want to grow your career in a very competitive marketplace it is essential you consider getting a higher academic degree, going back to school for a supplementary degree or certificate, working longer hours, or starting your own business. It also means taking advantage of your companies 401(k) or investment and stock options that are available.
Many of the insurances above will help protect your future goals. As well, the money you invest must have a purpose and not just be randomly portioned out to various investment opportunities just because they may look good. An investment counselor, CPA, or Certified Financial Planner will help you make sense of your goals in terms of investing and help create a path towards building wealth. You may want to start a business, retire young, buy a beach home, a boat, or give large portions of money to charity. Perhaps you want to accomplish all of these over the next few years. Investing in your future requires careful planning, and your portfolio must be revised from time to time as life issues change, such as additions to the family, a change in jobs or income, or down- or up-turn in the economy.
Your holistic approach towards life and investing is often predicated on those seemingly modestly important things. However, these insurances will help protect you and your family in case of an emergency, but also your investments and long-term financial goals.
Name
Website
Message