A few months ago, we posted a vlog discussing our views on the subject of debt. We wanted to follow that up with a second video segment answering a related question from another reader: “What are your top three financial goals?” Go ahead and watch this vlog, and then share your response to the question in the comments section.
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We already have a “rainy day” emergency fund, and we already withhold and set aside, on a monthly basis, as much as our employers will match in our retirement funds.
A new goal we are working towards is setting aside some money in an education fund (college, or otherwise) for our son. Whether he decides to go to college, or start a business, or whatever…that will be useful to him.
That is a very kind thing to do for your son, Federica!
Ellie
No video shows up for me.
Just wanted to say that everyone should be working with a fiduciary financial planner at some point in their adult life. It’s one thing to have a plan, but an entirely different thing to know for sure if that plan is right and exactly how you will achieve the goal you need for later in life. You can read books about this but it’s not the same as sitting with a financial planner, mapping out your individual financial circumstances, and running numbers through predictive software to see where you’ll stand in the coming years and after retirement. Some planners do this service for free if you have enough invested with their company, but still it’s worth paying someone for their time. Certified financial planner, fiduciary only – and verify that. The rules changed about that recently and now every Tom, Dick, and Harry can advertise that they’re a financial planner, but not all work in YOUR best interest. If you have someone manage your 401K and you’re paying them more than 1% to do that, you’re being taken for a ride. Oh, and stay away from annuities. In 95% of the cases, they are money-making devices for the companies that sell them, not for you. In rare cases they are right for someone, but those cases are few and far between. Everyone wants to sell them to you though because they get the fees. Bottom line – whenever there’s money involved, someone is more than happy to take it from you. Be careful. Educate yourself.
Some people do have good fortune, find just the things they need when they need them, get jobs, have refunds, etc…..those are likely investments in giving paying returns. Its challenging to give but nice to get those timely returns. And I don’t need comments give without expecting a return, I have heard that. But everybody has needs from time to time they need help with.