Jean’s Journal June 5, 2017
KISS Keep it simple stupid!
Why did I start with this acronym? It starts with an observation of human nature. We are all creatures of habit – really. I think of the habit my dearly departed Navy father taught me by example – get up, make your bed and get to it every day. As an early riser, and the daughter of a Navy guy with German heritage, how could I not be the morning person I am today? Other keys to habit forming are all about money. I just saw a promotion from the incredibly successful Dave Ramsey. He preaches some pretty common sense approaches for money management but as a financial planner – I see it every day.
How we approach money and how we handle the loose change in our pocket – impacts our long term success. Big and small decisions and good habits formed as children and cemented as adults, improve the odds of financial success. Good habits implemented in our 20’s on savings, spending and living beneath one’s means. Watch your debt and pay down consistently as well as not spending without intent. I think many of us have made the “impulse purchase” and new temptations to spend with Amazon Prime make it very difficult. Put down the phone and don’t buy the latest gimmick or “new thing”! When we sleep on a purchase for 24 hours – I think all of us will spend less and likely save more.
Good habits built into retirement savings:
So why am I pontificating the rewards of good habits? There are few great nuggets in this article on handling your withdrawals and spending needs in retirement. Retirement Withdrawals
Good habits for retirement spenders:
As we enter the robot revolution in our lives, think about the habits of good money management as well as health management – both will likely bring you dividends for many years to come.
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