The Productive Distraction of Retirement Financial Planning

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Here are three useful thoughts to start each day:
1. You are never too young to start retirement financial planning.
2. Retirement financial planning is never complete because we cannot be sure of what the future holds.
3. A 401(K) and every IRA are sacred and untouchable forms of capital.

The transition from newspapers to breakfast shows and from there to Internet-on-the-hoof has left financial content largely untouched. We are snowed under tons of stock news we cannot use. We readily confess to being party to useless ranting over acts of our Fed.

Recrimination will add to net worth only if you are a celebrity financial analyst. The rest of us must either act or forget after we read or hear a nugget of financial advice. There are three axes on which you can act today. Each of these routes stays open regardless of what goes on in the world. None of them is highly leveraged. However, their tardy progress is factually measurable. They make for reliable habits in uncertain times.

A. Think of ways to increase your income

• Can you work towards a promotion?
• Should you look for another job?
• How about a second vocation in leisure time?

B. Find ideas to conserve cash.

• Take another look at your energy and food bills
• Refinance debt to improve present value
• Cajole your doctor into cheaper prescriptions.

C. Be better prepared to deal with risks

• What if fire destroys your home?
• Which medical conditions does your health insurance not cover?
• Are your asset values for real?

Make a new start with us. Focus on things which are within your control. Make definitive improvement, no matter how small. Prepare for adversity. Join our forum and post your specific requirements. We wait to hear from you.

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