Discipline and Routines

How many times have we told ourselves on Monday we are going to make a life changing action that is going to better ourselves?  Only by the end of the week, month or sometimes even that day, we’ve failed to continue this change. The same can be said for us planning for retirement.  
We all started investing into our future, but then some life altering event happens that forces us to change these plans.  Here is an example of what I’m referring to.  Lets say you started to save $25 a paycheck.  You’ve accumulated over $5,000 for your retirement.   Now your A/C unit breaks down and you need a new one.  So the easiest thing to do is take money from your retirement to pay for the A/C unit vs cutting expenses that are not necessitates instead of staying the course of your retirement planning.  Here is another option when it comes to retirement and savings. 
Some times that is the only route is pulling from your retirement.  But any good agent should would tell you saving for retirement should include planning for life.  Meaning when you need to dip into your savings for life events it shouldn’t cost you any of your retirement.  Perhaps instead of putting $25 a way per check for retirement you only put a way $15 for retirement and $10 into your savings.  
The key to make your money work for you is being discipline in your routines for savings.   So the $10 you put away in your savings account should only be used for certain events.  I suggest making a list of what that should be, so you don’t waste your savings on a vacation, a dress etc, but for things you need like repairs to your home, down payment for a home, items like that.  So when events happens that you need funds for you have it, and now you don’t have to dip into your retirement.  
Please feel free to reach out and being planning for your retirement, or ask us for a second opinion to make sure you are on the right path for financial freedom.
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