When most people seek out financial advice they are not confident on who to turn to

You remember that feeling when you were a freshmen in high school and walked into a larger campus that uneasy feeling, or maybe you can go back to your freshman year in college and the overwhelming sense of how the campus is laid out or where to go and what to do while you attended college your freshman year. It was normal to feel this way as the unknown makes you feel that way since you were facing some changes in your high school or undergraduate studies. Everyone feels this way with the uncomfortable feeling.

Navigating the financial landscape can bring back those feelings. It could feel like a flashback, “Who do I talk to?” “Who can I ask?” “How do I make sense of this all?” It’s okay to feel this way, we weren’t taught solid financial fundamentals unless you majored in finance. This wasn’t taught in our elementary school years nor in our high school years.

Try to create a strategic plan before you start searching

Going online and searching for advice can become overwhelming as you might find yourself spinning in an unlimited amount of online sites. You don’t have to create a very sophisticated plan, but coming up with a simple search and answers to make them more relevant to your concerns will help. Consider the following questions when trying to come up with your plan:

1. Know when you want to retire. Know your ideal age and your oldest working age resort for scenarios.
2. Have an idea of your expected Social Security income or a pension you are expected to receive, know when you can begin to take income from these sources.
3. Know how much income you want to retire with, Know how much you need to retire with.
4. Know your budgets, Know how much it will allow you to save each month.
5. Know who your beneficiaries are and keep them updated along the way in case you pre-decease before you benefit from your plan.
6. Know your amount of wealth, it's a good idea to have an inventory of all your assets.

Sit down with your significant other

Do not leave your significant other out of this plan. They may have something to add that you forgot about, their ideas and strategies could be surprisingly helpful. Consider them and keep them in mind.

Know where to search online

When searching online keep in mind the credibility of the sources. There is lots of information out there, find and compare the information online to make sure they coincide with each other.

Make sure you come to your own conclusion

With the information, you read it is important for you to make sure you understand what you come across and forming your own conclusion will help you find an answer or a way to navigate through these rough financial waters.

Consider the following to help you mend your search for answers to your financial concerns:

1. Know how much risk your willing to take on, know what your risk boundaries are to reach your goals.
2. Have an idea or come up with a strategy to save toward your goals.
3. When you come across avenues or financial products develop your own beliefs about them, do not take their word for it.
4. Develop a way to measure your progress to measure your goals.

Going through your high school years and if you decided to go through college this feeling should be familiar to you. Do not let the financial landscape intimidate you. Before I jumped in the financial services industry as a profession I took time to read, research, and teach my self about the different types of financial vehicles, strategies, products, and resources. I highly recommend you go through your own stage of learning and gaining knowledge in this critical area as this information can help you when you decide to find a financial advisor who could sit down with you and help you navigate a customized plan for your financial situation. Arming your self with information and knowledge will help make you feel more comfortable around your current financial environment so that in the future you will come out strong for your retirement and for your families sake.

If you are in the greater Austin area I help individuals and families with their financial concerns. There is never an obligation. It is my passion for helping individuals and families is a priority and I act as a fiduciary toward your goals and dreams. Feel free to contact me for a free consultation.

Rene Gonzales

Senior Representative
c. 512-568-7203
e. [email protected]
www.Primerica.com/ReneGonzales
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