Putting Wealth on Autopilot Through Financial Advisory
From Idaho to New York, many Americans prefer to spend time buying a new car or planning for an upcoming vacation and make the crucial mistake of overlooking the very thing that will allow for an increase in said purchases and activities in the near future: financial planning.
Rather than revert back to your days of procrastination as a middle schooler in Idaho or elsewhere, make the responsible decision to act now and work with a financial advisor. By so doing, you'll be placing wealth on autopilot and preparing for future relaxation with friends and family — all while continually adding to your personal net worth.
Speak with any financial advisor about your future and it'll be made perfectly clear to you what needs to happen right from the get-go: savings automation. Whatever it is that you're saving for — Disney vacation, college education, farmhouse wedding in Idaho, house downpayment or retirement — can be put on autopilot. An old financial adage says, "Pay yourself first." Even famous American financial author David Bach, in his best-selling book, "The Automatic Millionaire," speaks highly of the practice. In the book, Bach speaks of how, gradually, automatic deductions build wealth over a lifetime.
The general premise of such an ideology is summarized best by AWealthOfCommonSense.com, who says, "Not only does this take the decision-making process out of your hands, you end up treating your monthly savings like a bill payment. You know it will get taken out automatically so you know you can't spend that money."
Furthermore, it's imperative to automate bills — seriously, all bills. Monthly utilities for cold Winter months in Idaho, gym memberships, car payments, student loans and credit card fees all fall under the canopying category of "routine bills" and can be deducted from your paycheck as soon as it's submitted through direct deposit. In addition, any financial advisor will tell you that, when this sort of practice is followed, budgeting ceases to be an issue.
Lastly, place all retirement savings on autopilot, as well. Upon doing so, 401(k) and IRA accounts are strengthened and you set yourself up to dollar-cost average into the market. Another benefit of allowing automation to handle retirement is that there's little to no temptation to time the market just right with monetary investments. When the market is excelling, your periodic investment will purchase fewer shares than usual, and when the market struggles, the inverse will occur.
Yes, it's true that the internet can act as a type of digital financial advisor, yet for the best of counsel, seek guidance from a local or national wealth management firm. Presently, the thought may make you cringe, but soon — as you enjoy making money deep into retirement — you'll be glad you made the effort.
Rather than revert back to your days of procrastination as a middle schooler in Idaho or elsewhere, make the responsible decision to act now and work with a financial advisor. By so doing, you'll be placing wealth on autopilot and preparing for future relaxation with friends and family — all while continually adding to your personal net worth.
Speak with any financial advisor about your future and it'll be made perfectly clear to you what needs to happen right from the get-go: savings automation. Whatever it is that you're saving for — Disney vacation, college education, farmhouse wedding in Idaho, house downpayment or retirement — can be put on autopilot. An old financial adage says, "Pay yourself first." Even famous American financial author David Bach, in his best-selling book, "The Automatic Millionaire," speaks highly of the practice. In the book, Bach speaks of how, gradually, automatic deductions build wealth over a lifetime.
The general premise of such an ideology is summarized best by AWealthOfCommonSense.com, who says, "Not only does this take the decision-making process out of your hands, you end up treating your monthly savings like a bill payment. You know it will get taken out automatically so you know you can't spend that money."
Furthermore, it's imperative to automate bills — seriously, all bills. Monthly utilities for cold Winter months in Idaho, gym memberships, car payments, student loans and credit card fees all fall under the canopying category of "routine bills" and can be deducted from your paycheck as soon as it's submitted through direct deposit. In addition, any financial advisor will tell you that, when this sort of practice is followed, budgeting ceases to be an issue.
Lastly, place all retirement savings on autopilot, as well. Upon doing so, 401(k) and IRA accounts are strengthened and you set yourself up to dollar-cost average into the market. Another benefit of allowing automation to handle retirement is that there's little to no temptation to time the market just right with monetary investments. When the market is excelling, your periodic investment will purchase fewer shares than usual, and when the market struggles, the inverse will occur.
Yes, it's true that the internet can act as a type of digital financial advisor, yet for the best of counsel, seek guidance from a local or national wealth management firm. Presently, the thought may make you cringe, but soon — as you enjoy making money deep into retirement — you'll be glad you made the effort.
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