What Are You Investing Into Your Future

5 Steps to help your Financial Future in 2021.

1. Take control of your consumer debt

Credit card debt is the silent killer of financial security. You will never get ahead when you are paying 20 to 30% interest on crap you bought years ago, and probably don’t even use anymore. Don’t put stuff on your credit cards unless you can pay it off every month. No, if and or buts. And if you feel like an impulse buys, try instead to put the money into paying down your debt instead or (gasp!) tossing some into savings.

2. Get all the free money you can

If someone offered you an easy way to get a raise at work would you turn it down? I’m going to assume you gave a big “HECK NO.” If you are ignoring your company’s 401(K) match, you are leaving free money on the table.

3. Set up an automatic savings plan (or increase your old one)

Make life easy on yourself by putting money away monthly and automatically. Whether to a savings account or in investments, the point is to get it saved. If you don’t see all that moolah burning a hole in your checking account, you’re less likely to spend it. Out of sight out of mind is much more likely to stay saved and grow for your future.

4. Get the right amount of insurance

How much insurance you and your family need will be different than what your friends need or what the random Joes down the block require. All those fun insurance policies – auto, home, life, health, long-term care – have many variables and costs. Work with your LA financial planner to get the right amount of insurance so you’re not overspending where you don’t need to.

5. Put a smart financial plan in place TODAY-

Getting your assets in gear and putting yourself on the road to financial independence takes planning. If you don’t know where you’re going, how will you know if you’re headed in the right direction? There is no one-size-fits-all perfect investment strategy or single ideal financial plan (or fabulous financial planner for that matter.) The important thing is that you have a plan that suits your individual circumstances so that you are constantly moving closer to your various financial goals. You can always make changes to your plan, and indeed this is to be expected, but you have to start with a plan in the first place.