Highlights of today's show:
- Steve Stewart joins us again
- Long term things you can do with money
- Pay for things you want to do with cash
- Time to enjoy your money
- How do you accomplish your goals?
Steve Stewart again joins us to discuss setting your financial goals in 2012. In part I, we discussed the things you need to do before you can set your goals. Today we discuss what are some things to aim towards in 2012.
After getting your debt paid off and having an emergency fund, now you get to enjoy your money! What are some things you have wanted to do but could not because of monthly payments? Things such as vacations, home remodels, and buying newer cars fall into this catagory.
In addition, now is the time to start saving for your retirement. Steve has done an excellent video on the importance of saving early for retirement titled "tree-tirement". But where do we save for retirement? The two most common ways are through 401(K)'s and IRA's
Finally, it is one thing to talk about your dreams and goals, but it is another to actually go out and do them. So how do we accomplish our dreams? You must do these things:
1. Write them down so you can be reminded of them everyday.
2. Make them specific and measureable.
3. Figure out your "Why." Why do you want to accomplish these goals?
4. Map out how you will accomplish them. How much do you need to cut from your budget to make this happen? How much do you need to save? How will you save the money?
5. Look at the long term reward and not the short term pain.
If you would like some help making your 2012 a winning year financially, I am offering my two hour financial checkup coaching package for only $99 in the month of January.
If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. Email me at JWFinancialcoaching@gmail.com - Please put “podcast” in the subject line and keep your questions brief so they are readable on air.