Jameson Van Houten of the Stonegate Financial Group knows that it is never too late to start learning and implementing good financial planning habits. Though it is recommended that individuals start planning for the future as soon as possible, there are many things that people can do today that will lead to a brighter tomorrow.
1. Maximize your benefits.
If your employer offers a 401(k) savings plan, you’re lucky! Consider taking full advantage of this by maximizing the amount of money that is placed into this account. Many employers will even match what you put into your savings, making it an even better resource for retirement funds.
2. Keep some cash reserves on hand and build them up.
Ideally, the financial planners at Stonegate Financial Group share that individuals should try to have three to six months of their normal income saved up in a rainy-day fund. This can really come in handy if unexpected expenses pop up, or if a person loses their job, etc. This money can be saved as cash, so that it is liquid and does not accrue any penalties.