Making A Financial Plan For The Future Essay

1109 Words Apr 25th, 2016 null Page
Can anyone really financially plan all the way up until retirement? That’s a question I thought I knew everything I needed to know when it came to finances, I’ve been paying my own bills, saving money, and not having massive amounts of credit card debt since I’ve been 18. I’m really glad I thought wrong, I would have never thought so much went into planning not only for the now but also planning for the future. After taking this class I realized that I really only knew the basics, I got to learn so much more about financial planning, investing in stocks, and even retirement and estate planning. When I first heard the words financial planning I just thought of the basics, not spending all your money, saving money back and not digging yourself into a financial grave by getting in debt up to your eyeballs. Thankfully, making a financial plan is a lot easier than I thought, it does take a little time, but after you sit down and write down your goals are it becomes a lot easier. A good rule of thumb when determining your goals are to use the abbreviation “S.M.A.R.T which stands for Specific, Measureable, Action-oriented, Realistic and Time Based” (Kapoor et al. 9). Using the SMART abbreviation, you can then apply it to your specific needs. It’s important to keep in mind that your financial plan will need to be up to date so you can always go back and edit and revise your plan so that it reflects your current financial situation. One final thing I learned about making a financial…

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