Your Future Self Will Thank You

By: David Smyth, March 1, 2018

I'm sure many of you are just now realizing we're half-way through the first quarter of 2018. Often we're first reminded of this in our professional occupations when we may have certain monthly or quarterly objectives we have to meet in terms of sales or project timelines. This time of the year can be stressful for those who are behind in tasks, and in the midst of the craziness, often people forget to take care of themselves - and their future selves. 
 
Even if you're time-stressed, one of the best ways to make sure your future self will look back and thank you is to set up automatic investments into your retirement accounts, such as your 401(k), IRA or Roth IRA. In addition, you can also auto-save in your non-retirement accounts for expenses that are even more exciting than not having to go to work anymore. 
 
We see people saving for their kids to get through college debt-free, as their parents may have done for them. For others, they're saving to relive a brief moment of their youth in a convertible or some other loud, roaring engine, and for some it's a lake house, or anyplace where it's warm and dry. We also see folks saving their non-retirement money so they can begin to live a different lifestyle before they retire. They want to be able to relax and travel now - and actually use those vacation days. These are just a few of the things we see people working towards. 
 
For those who are successful in these goals, the key thing that we see that makes this happen is automatic savings. When people treat their savings, no matter what they're working toward, like a utility bill or a car payment, it's much harder to spend that money on the myriad other things that pop up in daily life. Sitting in the dark or having the car repossessed simply aren't options, right? Neglecting your savings shouldn't be either. 
 
Often when we bring up automatic saving during client meetings, perfectly smart people who are saving automatically in their employee retirement plan will tell us they'll write a check from what's left over at the end of the month for those non-retirement goals. Now, there are a few of you who make enough money that you can miss four or five zeros and still write that check. But for the vast majority, writing a four or five-digit check is simply not going to happen because of all the "emergencies" that will happen throughout the weeks of each month. 
 
Just as some of you have started on Disney or cruise payment plans for your spring and summer getaways, and somehow we think this is normal, well, why not automate that payment to benefit your future self? The good news is, it doesn't take a lot of money and the paperwork involved is minimal - we need your signature and voided check, and our operations team takes care of the rest. We'll even make the transaction on whatever day you choose. 
 
If you'd like more information about automatic savings into any of your accounts, feel free to get in touch with Greg Wright, our operations director. He'll be happy to assist you with the initial steps and answer any additional questions you might have. 
 
Now, start dreaming of how proud you'll be of yourself in the future. 

Family Financial Partners | Growing Wealth, For Generations ™