We're several months into the new year, and many are still focused on their fitness goals and resolutions. Have you made a similar commitment to your long-term financial goals?
Statistics show that we have a greater chance of achieving our fitness goals when we work out with a group of individuals with health obstacles and fitness goals similar to our own. A 2017 study published by American Osteopathic Association revealed that “those who exercise individually put in more effort but experienced no significant changes in their stress level and a limited improvement to the quality of life,” when compared to those working out in a group.
When there is someone else invested in your goal, there is someone else holding you accountable and supporting your efforts along the way. The same philosophy applies to developing and executing a financial plan, which is why it’s often most effective for an individual to engage in professional guidance.
The Power of Accountability and Financial Planning
A financial planning professional can help build a long-term financial plan suited to each stage of your life journey, and most importantly, they will hold you accountable if you begin to wander from your set plan.
Like your health, your financial well-being isn’t something you can wait until the last minute to address. You want to begin the financial planning process early on, well in advance of retirement so you’re ready to overcome whatever curve-balls life may throw your way. Begin preparing for retirement today and consider the following questions:
Who can you trust to hold you accountable and keep you on track to meet your long-term financial goals?
Who can you turn to for clarity when it comes to your unique financial situation? How do you know if you’re still on the right path when/if things change?
It’s never too early to start planning for retirement. Take the time to prioritize your financial well-being today so you're well-prepared when it's time to retire.
