5 Steps To Planning for Financial Longevity
posted on Nov 6, 2020 | 544 likes
How financially prepared are you for a long life?
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People are doing everything the doctor says in order to live longer, but not many people are financially prepared for the long journey of life ahead.
In general, people tend to underestimate how long they may live, It’s a challenge for many to recognize that sometimes, we must plan for a retirement that is longer than our actual working career!
That makes it necessary to have a financial plan in place to support the lifestyle that you desire – long term.
Regardless of your age, establishing sound financial habits will make your money last longer and allow you to enjoy life the way you want.
The following steps will help you establish a foundation of financial longevity and provide you with a sense of security as the years pass.
- Save and then save some more.
A good way to prepare for any stage of life is to start saving money as soon as you can. There are various avenues people take to begin their saving.
You can start with a traditional savings account, so you can have money that's easily accessible or setup an investment account with trusted financial partners like Page Financials to have controlled access to the money.
Begin tracking your spending now to identify ways in which you can save more.
- Establish a relationship with a Financial Advisor (FA).
Trying to navigate investing alone can be a challenge and a lot to take on.
We highly encourage meeting with an FA who can guide you to the right investment strategies for your situation.
A financial advisor can help you understand investing options and reach your goals. If you’re a Page customer, an FA is available to you for FREE for planning and investing support.
Even if you are not a Page customer, we can help you get started with your long-term investment plan for FREE.
- Live within your means.
Without mincing words, the goal is to spend less than the amount of money you bring in each month.
Creating the habit of living within your means will allow you the flexibility and longevity with your finances in the future.
- Continue doing what you love.
If you’re living longer this generally means you’re healthy and can continue to do what you love.
Every year you work, even part-time, is another year of adding to your savings, increasing your opportunity for financial stability.
Also it’s hard to ignore the health benefits of keeping an active mind and body.
Conclusion
Life will continue to throw difficult situations and challenges your way. One way to help weather these storms is by having financial stability, which can translate to longevity if the right decisions or plans are followed. It’s never too early to begin thinking long term. Start the journey today.
If you have any questions regarding our quick loans, competitive investment offering, or using our payment solution to enjoy zero charge on transfers and bill payments.
Visit our website at https://pagefinancials.com or call 01-700PAGE (7143) or send an email to customer@pagefinancials.com to speak with us.
Follow Page Financials on Facebook, Instagram, Twitter, and LinkedIn to get daily updates on how to live a financially sound and productive life in your career and personal life.