Is your financial vision 2020? You’ll never know unless you do the financial version of an eye test by performing a financial health checkup. Figure out your current financial situation and define what’s going to change or remain the same in 2020. Match that against your short, mid and long term goals to see what you need to modify to improve your financial vision.
Financial advice comes in so many shapes and sizes that it can be overwhelming. The simplest way to get control of your finances is to spend less than you make. It’s that simple!
Consistently spending less than you earn will ensure your financial success a lot faster than any other financial advice you can get.
The Compass Catholic blog has more ideas about keeping it simple!
Financial planning can be difficult if you don’t have the knowledge and skill set to do it well. Making informed objective decisions is hard to do when you are emotionally involved with the outcome.
Join us for a discussion about why using a financial planner will benefit you in the long term and how to find a financial planner who is a good fit for you.
The Compass Catholic Blog has more on this topic.
Do you know where your parents keep all the information you would need in case of an emergency? Here are 10 questions to ask your parents just in case you (or other family members) ever need it:
- Where do you keep your important information, in case I need to find it in an emergency?
- Where can I find a list of your key contacts?
- How are your accounts registered?
- Do you have an up to date will?
- Have you Designated a Power of Attorney?
- Do you have a Health Care Proxy?
- Do you have a living will or an advance health care directive?
- How can I access your electronic assets in an emergency?
- How do you want to disposition your personal Items?
- Have you documented your final wishes?
The Compass Catholic blog has more details about what to ask and why it’s so important to know where this information is kept.
When people retire, many times the goal is to simply stop working. As our lifespan increases, retirement can be a time of great fulfillment if you plan well. Not planning for retirement may result in a dead end feeling when you no longer have a reason to get out of bed every morning.
Finding a passion to use your talents and skills in serving others can result in a fulfilling lifestyle and a feeling of accomplishment during this season of life.
The retirement years can be one third of your adult life. What are your plans for loving retirement? The Compass Catholic blog has more about planning for happy, fulfilling retirement years.
One step in planning is to be financially prepared. Check out our retirement calculators to review your financial readiness.
Sooner or later almost everyone faces a financial crisis. A job loss, illness, birth of a special needs child, or damage from a hurricane or winter storm can all wreak havoc on your financial stability. Plan for the unplanned by having a crisis budget. A crisis budget will help you survive economic setbacks with minimum impact to your financial stability.
This podcast shares how to create a crisis budget and when to put it into action, and be sure to check out the Compass Catholic blog on crisis budgets.
We can get so used to doing things in the same old ways that’s hard to make a change. Any change can be difficult, but if you are successful with small changes, they can help you to succeed with large changes. Taking time to make small mindset changes can lead you to a path of financial freedom, just by concentrating on doing things differently and thinking about things differently.
Tune in for suggested mindset changes that can help you on the path to those significant changes. The Compass Catholic blog has more on this idea.
We all have a tendency to think that SOMEDAY we will be happy, content and financially stable. But if we don’t start today, we’ll never get there.
Join us for 10 easy steps you can take today to improve your monthly finances: track your spending; review monthly payments; determine if you still need to pay PMI on your mortgage; earn more; review insurance; discern wants vs needs; question every purchase; set spending priorities; stop shopping as entertainment; quit comparing yourself with others.
Listen in and check out our blog to learn more about ways to start improving your monthly budget today.
John Kennedy, CFP and fiduciary, offers advice on saving for retirement. Check out this link and look at page 13 for the intersection of your age and salary. Multiply your salary by the number in the intersection to see how much you should have saved for retirement at your current age.
John also comments on his personal experience with the Compass Catholic Navigating Your Finances God’s Wayand Set Your House in OrderBible studies. Not only did it help him in his financial planner role, it also helped him and his wife communicate about their personal finances.
Read the Compass Catholic Blog for more benefits of using a financial planner.
If you don’t have the knowledge and skill set, do-it-yourself financial planning can turn into a huge disaster. It’s hard to make objective financial decisions when you are emotionally involved with the outcome. Join us for a discussion about why using a financial planner will benefit you in the long term. We will also share the questions to ask a financial planner before you decide to work with them.
The Compass Catholic Blog has more on this topic.