I appreciate your reminder that financial security is both a mindset and a practical reality. It makes me wonder—how much of our sense of security comes from financial literacy versus actual wealth?
I believe that with a better understanding of our money - and related decisions - it would lead to more comfort and confidence. And a sense of security.
So many people I talk to don't have a clear understanding of where they stand today, much less the direction they're headed.
It was hard for me to think of retirement back when I was in my 20's and 30's. I was single until I married at age 40. Up to that point I was just trying to survive on my own. I was/am fortunate that I lived close to family. However, there was an independent streak in me that wanted to prove I could do it on my own. I did ok. Again, I was blessed that my parents taught us the value of money (in word and deed). I was very blessed to marry a man who is also very fiscally responsible. Things didn't really start hitting home for me with retirement until my mother died a year after I was married. Dad lived a couple decades after her. We had to deal with caring for an elderly parent with Alzheimer's. You are so right. There are so many factors involved. It would be wonderful if we could figure out that "magic" number. Reality/life just ain't that way.
Thanks, Suzie. It's so hard to imagine ourselves and our lives in the future...
I've heard it said that saving for retirement is like taking your money and essentially giving it to a stranger because there's such a disconnect between our lives today and our lives years from now.
And yes, there are many factors that change and evolve along the way...
I see a lot of ads online for services offering to bring people to that magic number. I never know how they can figure it out.
For me, I'm in Belgium, I know I'll have a tiny pension from various jobs, and I'm putting money away toward a pension fund. Now that I'm working freelance/independent, I'm putting money on a separate pension fund for independents.
Other than that, I just hope I get to make money for as long as possible, if I'm able.
Financial security for me is being able to cover all my fixed spending and then having a bit left for investing/learning/fun, etc.
If I can put a number on this today, I'm not sure I can project as far as 15 or 20 years.
I'm a financial advisor specializing in helping women prepare for and successfully transition into their retirement years.
I spend a lot of my time working with my clients to plan for an uncertain future.
As much value as their is in financial planning, it's ultimately just a "best guess" about the future.
The real trick with financial planning is to be flexible and adaptable to new information and situations that will inevitably pop-up along each person's journey through life
I appreciate your reminder that financial security is both a mindset and a practical reality. It makes me wonder—how much of our sense of security comes from financial literacy versus actual wealth?
You raise a good point, Ellen...
I believe that with a better understanding of our money - and related decisions - it would lead to more comfort and confidence. And a sense of security.
So many people I talk to don't have a clear understanding of where they stand today, much less the direction they're headed.
Tools like https://accountable.money/ can do a lot to help 😉
Thanks for your comment!
Thanks Russ, I completely agree! Is helping people with their budget a significant part of your work or do you spend more time on the bigger picture?
I do help some folks with getting a better understanding of their cash flow, but it's probably on 20% of my clients
It was hard for me to think of retirement back when I was in my 20's and 30's. I was single until I married at age 40. Up to that point I was just trying to survive on my own. I was/am fortunate that I lived close to family. However, there was an independent streak in me that wanted to prove I could do it on my own. I did ok. Again, I was blessed that my parents taught us the value of money (in word and deed). I was very blessed to marry a man who is also very fiscally responsible. Things didn't really start hitting home for me with retirement until my mother died a year after I was married. Dad lived a couple decades after her. We had to deal with caring for an elderly parent with Alzheimer's. You are so right. There are so many factors involved. It would be wonderful if we could figure out that "magic" number. Reality/life just ain't that way.
Thanks, Suzie. It's so hard to imagine ourselves and our lives in the future...
I've heard it said that saving for retirement is like taking your money and essentially giving it to a stranger because there's such a disconnect between our lives today and our lives years from now.
And yes, there are many factors that change and evolve along the way...
I see a lot of ads online for services offering to bring people to that magic number. I never know how they can figure it out.
For me, I'm in Belgium, I know I'll have a tiny pension from various jobs, and I'm putting money away toward a pension fund. Now that I'm working freelance/independent, I'm putting money on a separate pension fund for independents.
Other than that, I just hope I get to make money for as long as possible, if I'm able.
Financial security for me is being able to cover all my fixed spending and then having a bit left for investing/learning/fun, etc.
If I can put a number on this today, I'm not sure I can project as far as 15 or 20 years.
I'm a financial advisor specializing in helping women prepare for and successfully transition into their retirement years.
I spend a lot of my time working with my clients to plan for an uncertain future.
As much value as their is in financial planning, it's ultimately just a "best guess" about the future.
The real trick with financial planning is to be flexible and adaptable to new information and situations that will inevitably pop-up along each person's journey through life