Derin Dolen's Financial Planning Tips For a Lifetime

Derin Dolen's Financial Planning Tips For a Lifetime

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  Financial Planning Tipsfor a Lifetime Derin Dolen
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  Are You Preparedfor Your Financial Future? Pinpoint your specific problem areas Highlight steps to turn things around
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  Bad Saving Habits Morethan half (54 percent) of Americans have not been able to save any of their income in the past year 70 percent of workers plan to work for pay in their retirement How long will your savings last? What can you do to fix the problem if your savings are nowhere near what they need to be?
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  Solid Saving Habits ThinkSMALL and Do It REGULARLY Thinking small can bring big rewards Pay Yourself First Have a “Don’t Touch” Account • The only wrong thing to do is to do nothing about protecting your financial future.
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  Credit Card Debt Howcan I avoid the credit card debt squeeze? If I’m already there, how do I push my way out?
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  Tactics for TacklingCredit Card Debt Avoid the credit card squeeze… Limit the number of credit cards you use Pay the total amount due to avoid paying interest rates Work your way out… Stop using your credit cards Talk to a financial planner Work with your creditors
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  Plan for YourFinances Parenting College Jobs/Career Home ownership Unexpected crisis/disaster Caring for sick or elderly parents Retirement Estate Planning
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  Home Ownership Right timeto buy? Financing Monthly mortgage payments Real estate attorney Future marketability Home-owners insurance
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  Parenting and FinanceOverview Teach your children about money Manager your finances so your kids will have every opportunity to become productive, responsible adults You will have to plan for the contingencies that come with parenting
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  Parenting and Financefor Children of Various Ages For 5-8 year olds: Start an allowance, comparison shop For 9-12 year olds: Money to supplement their allowance For teens: Money management skills For college students: Staying within a budget
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  College Financial Aid Scholarships andsponsorships Part-time jobs Delayed admission
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  Career 401K plans Automatic deposit Retirementplans Disability and life insurance Health insurance Unemployment insurance
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  Unexpected Crisis/Disaster Divorce Do youmake enough to support yourself? Which assets do you want? Can you afford to keep the family house? Are you better off selling and dividing up the proceeds? Fires Floods Earthquakes Prolonged health issue Death of a spouse
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  Caring for aSick or Elderly Parent “The Sandwich Generation” is caught in the middle between raising and educating their kids and tending to the needs of aging parents Learn about your parents ailments to make a realistic budget assessment Know and understand your parents financial situation and their wishes
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  Retirement Start early Take fulladvantage of every retirement option Invest the maximum allowed in an IRA
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  Estate Planning Be sureyou have a will Formulate a strategy
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  Financial Planning Mantras Hopefor the best. Expect the worst. Think small and do it regularly.
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  Thank you!