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Four Strategies Towards a Brighter Financial Future

Oct 16, 2013

Posted by

Kris Miller

As a PREtirement and living trust expert and National Speaker, Kris Miller assists people in developing complete estate packages. Her practice focuses on helping seniors reduce their tax liabilities, Read more

Planning for the future is something many people are not really keen about. For many people, procrastination is their habit, always saying that they will start saving and planning tomorrow. The most unfortunate part is that the tomorrow comes and passes. Years and even decades pass without realization. The result is that retirement and even emergencies come and people are not prepared for these eventualities.

Situations such as young age and tough economic times blur the need to prepare for the future.  In such times, people are bound to live in the present and in the struggle to make ends meet.  The last thing in their minds is the tomorrow which will seemingly never come.

Emergencies and other needs that call for some planning are usually around the corner. Irrespective of being healthy or unwell; old or young, decent salary or no salary, you should start planning for the future right now.

Here are suggestions to use when planning for the future:

Acknowledge uncertainties

Unexpected things are bound to happen.  Although it is not healthy to dwell on the negatives, the acknowledgment that health issues, injuries and other setbacks may happen goes a long way in planning for the future.

Injuries happen every day and it is only advisable that you should have a plan that covers long-term disability.  One in seven people in long term healthcare facilities are under age 65, and findings from the Centers for Medicare and Medicaid Services that indicate a 22 percent rise in the number of under-65 nursing home residents over the past eight years.

Invest your money wisely

Very few people invest their money wisely.  Some have had no training or classes on long term investments.  They leave college and get involved in their careers and might even find a financial planner to take care of their financial lives.

The majority of people put their money at risk.  They often end up losing the principal because their investments may be wholly in the stock market and in variable annuities.  Find other investment options which have a lesser risk and better returns.

Keep Your Documents in Order

The Power of Attorney for financial and Power of Attorney for healthcare are two legal; documents that you should have irrespective of age and financial status. These are important and ensure that you have a competent and trustworthy person to make your decisions if you are incapacitated.

Other documents include a guardianship for young children, and long term care insurance to act as a hedge to your assets which are not used paying for your expenses. Long term care insurance also helps to maintain your quality of life and you can live at home with in-home care and not have to go to a nursing home.

Develop a Saving culture

The ideal time to start saving is as early as in the 20s and 30s. However, this is not always the case in the absence of a saving culture and as economic times become tough. Saving anything as little as a dollar puts an individual on the right path.

The earlier the saving habit is developed, the better the outcome. With the habit of saving a percentage of your income no matter the circumstances, savings definitely grow as income continues to increase.  It is always a good time to start building financial reserves.

Don’t Start Tomorrow – Begin Planning Today

Make sure that you are not caught off guard.  Map out and plan for your financial future beginning today to ensure you and the family are well taken care of.

Kris Miller, Estate Planning Expert and Safe Money Strategist, will guide you on how you can successfully prepare your retirement plan.  For more information on how Kris can help you, call (951) 926-4158 or email and see her #1 Best Selling book at