"Simple 6"

Researchers say 'Simple 6' steps will lead to financial well being.  This was the title of a article in the paper...and I like "simple" and the number 6 is doable!

Some very basic habits and you are on your way to financial well being.  I wish someone had told me this when I was trying to figure out my finances for the very first time in college...I may be retired by now! lol

1.  Talk money with your partner

2.  Get advice from employers (what is available for auto savings)

3.  work out what you'll need

4.  work out what you'll need

5.  forecast what you'll have

6.  save more and owe less

"The biggest difference a person can make in his or her life - after your health - is to learn how to look after yourself financially...it means building the financial reserves to cope with life's challenges and increase your ability to retire comfortably."

Households that tend to be financially savvy are married, have children, own their own home, no bankruptcies, not divorces, all within 10 years of retirement!  Hey!!!!!!! I am married, I have children, I own my own home, I have been bankrupt and I have never divorced!!!!!!!!!  So why am I still working???

Well...I didn't start my retirement account as soon as I started working...in fact it took me almost 10 years to start one...geez...The biggest obstacle in Americans saving for retirement...it is tooooo far in the future if you're young...and as paraphrased in the article...our conventional spending patterns are not aligned with what we earn.  Buying lunch out every day is normal. (OK, we take our lunch to work, score one for us) The credit card boom of the last 20 years helped create that mindset.  (we do have a credit card but never carry a balance, score 2 for us) I wish I had started saving regularly when I got my first job...even if in the poor days I had put $20, 25, 50 away each paycheck I would be retired by now.  It isn't always the amount as the consistency of habit.  It is a balance to enjoy your earnings only after you have deposited your savings...life by a simple 6...it is not too late for us it just might take us a little longer.