From your first paycheck to retirement, the path of life is full of choices, shifting priorities and happy moments and unexpected events. Being prepared for all of life’s possibilities requires having a sound financial strategy that can be adjusted to accommodate your life’s ever evolving path.
Accumulating wealth for financial security is a goal that requires planning and discipline. The longer you wait, the harder it will be to accumulate the money you will need to meet your financial goals. Most experts say you should save at least 15% of your earnings consistently throughout your earning years.
To get started, consider these fundamental steps:
- Create a budget that includes saving money regularly and consistently
- Define your short, mid and long-term goals
- Prepare for the unexpected and have a plan in place
- Secure protection alongside wealth creation
- Have legal documents and health care proxies documented early
- Establish responsible financial habits
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