Everything goes better when there is a thoughtful plan in place. Whether single, married, and with children, you should build a financial plan that best fits your lifestyle now and in the future.
Before you set your financial goals, you need to understand your values and preferred lifestyle. It will help to define each goal clearly and in their respective timeframe.
Retirement savings is another form of investing, but with better tax advantages. You should begin saving for retirement as early as possible. An employer-sponsored 401K is one of the best benefits available to employees.
Tax planning should be a significant part of your financial plan, depending on the assets you own. Don’t ignore the impact of taxes on your financial planning because it can be very costly.
Generational wealth is about taking care of the next generation. You want to do the right thing but communicate with them about your plans and values when appropriate.