How to end your haphazard money management!

Below is a sneak peak into my next book TIME to REFINE.

Isn’t it cool when your life comes full circle? One project you are working on becomes something you can use somewhere else. Or someone you met in one of your many circles, can also be a huge benefit to another one of your circles. I strongly feel that all my hard work, my hustle, and the amazing connections I’ve had with other women is finally coming full circle. AND it feels incredible! Let me explain how my world has come full circle, and I finally feel I have so many things working with me and not against me. Things feel as if they are coming into place easily, which is so refreshing compared to the feeling of forcing things I experienced last year. 

Last year, I created our Strong Retirement Club for women to give them a different level of support, education, and community from the traditional financial planning role you always see. I’m finding one of the BIGGEST benefits for me with the club, is the knowledge I’ve learned and applied to the club. I can now use that knowledge with my one-on-one client sessions to better serve them. It helps all the women in the club and all my clients to execute their retirement goals and dreams so much more efficiently and effectively! For all the women who benefit from my new strategies, tips, and applications, they too finally feel like it all makes sense. They no longer are forcing things either. And they aren’t forcing things with their money or stuck worrying about things that are out of their control. We focus each components of your life and retirement that you can control and work on those instead of stressing over the markets, inflation, taxes, and long-term care costs. 

The first step for you to do the same is to identify all the variables or components of your retirement. Here is a basic list to help you get started:

  • Inflation

  • Taxes

  • Investment returns or losses

  • Income

  • Fixed Expenses

  • Variable Expenses

  • Withdrawal rates from your investments

  • Longevity

  • Long-term care costs

  • Required Minimum Distributions

  • Health

Next gain clarity over which variables you have no control over and which you have control over. Some components like investments, you don’t have control over, but you can help manage them. Taxes is another example of something you can’t control paying, but you can manage how much you pay. The one component you ALWAYS have control over is...your expenses. You can always, always, always, go back and change your expenses!

After seeing which items you can control or at least manage, let’s dive into which ones are working for you and which are working against you. What do I mean by this? Let’s talk a look at an example:

Inflation, taxes, and long-term care costs are all items working against you in retirement. Inflation reduces the purchasing power of your money every year. Taxes eat into your play money every year. Long-Term Care costs are very expensive and their prices go up by more than inflation every year. So what I do is look at these 3 variables working against you or risks, and see how we can protect against them or neutralize their risk against your plan. Sound good?

If I told you that I found 1 product or investment that would help protect against all of these, would you be interested? Heck yea, who wouldn’t want that?!

On the other hand, we have things working for us...don’t you love that? I do! Your income can work for you, good investment returns can work for you, and low expenses in retirement can do wonders for you. But I will also challenge you to think...can we enhance these items working for us?

Can you think of a time when you felt like you were forcing something? A relationship that should have ended? A house that just didn’t make sense for your family? A job you wanted to make work, but just didn’t in the end? The same can be said for you and your money. Do you ever feel like you are forcing things? If you are shaking your head, then your money is NOT being very effective or efficient. Your money should always be working FOR you NOT against you. I want your money working for you, so let’s talk and see how we can help make that happen! Get started with our MONEY BAGGAGE quiz to see where you stand with your money!

The answer is YES! If you want to learn more about my NEW retirement planning process, let’s talk. We focus on all of these goodies in our Strong Retirement Club and they will be featured in my NEW book: Refinement NOT Retirement, A Strong Woman’s Guide to Retiring on Her Own Terms. 

Join our BOOK LAUNCH team by clicking here: Time to Refine Book Launch!

Any opinions are those of the author and not necessarily those of RJFS or Raymond James.