Quotes About Planning

Take free money. No matter how in debt you are, if your employer offers a matching contribution on a 401(k) or other retirement vehicle, you must sign up and contribute enough to get the maximum company match each year. Think of it as a bonus.

Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.

So many financial dreams are thwarted by the failure to act upon good intentions.

Never, ever invest money that you will need prior to three to five years - minimum.

If you're not staying on top of your money, you are putting your financial well-being at risk.

The less money you owe, the less income you'll need and the less you'll have to save for tomorrow.

If you wait until your children are high school seniors to spring it on them that there's not a whole lot of money for school, they won't have too many options.

you have less than $100,000 in a Roth IRA:

Money you spend today is money that will not be able to grow and help you reach your most important future goals

Making smart choices in your 50s and 60s will give you the gift of not having to worry about finances in your 70s, 80s, and 90s.

Before you start to save one penny for a child's future college costs, I insist that you have the following financial priorities taken care of: You do not have credit card debt. You have an eight-month emergency savings fund. You have a term life insurance policy. You are saving for retirement; aiming to set aside 15% of your gross salary. Until all of that is in place you are not to think about saving for college.

by the time your child is a senior in high school you will want to have the bulk of your account in conservative investments; it is too risky to have your money invested in stocks when you know you will need that money in one to five years.

There are no loans for retirement.

Take a spin through your monthly spending and challenge yourself to cut your nonessential costs by at least 20%—something I recommend whether you are 35 or 75.

Retirement saving must take precedence over paying for college.

If you have been following my advice for years, you are well aware that I think a Roth IRA is the best retirement account you can have.

STEP 1. Save in a 401(k) plan if your employer offers a matching contribution. Contribute enough to qualify for the maximum company match.

STEP 2. Contribute to a Roth IRA.

STEP 3. Increase your 401(k) contributions.

STEP 4. Save in a taxable account.

No matter who you are and what you have in this life, every single one of you needs the following three documents: A will A revocable living trust with an incapacity clause An advance directive and durable power of attorney for health care

Saving is for a short-term goal that you hope to reach within five years or so. Investing is for the long term.

If a child, a spouse, a life partner, or a parent depends on you and your income, you need life insurance.

Accelerating your mortgage payments is something to be considered only if you are in good financial shape. That means: • You have an eight-month emergency savings fund. • You do not have any credit card debt. • You own your car outright, and you are saving for when you will need to purchase another car.