Action. That is the need of the hour.
The financial challenges we deal with are very different from prior generations. Chances are these challenges are not likely to trend in a positive direction – at least in the near future, unless there is a dramatic catalyst that impacts the economic scenario in a meaningful way. Can we put our heads in the sand and count on that happening?
As a result, it is really up to us to make changes in our financial modus operandi to get to the goal line. How?
The report contains a list of 10 behaviors that differentiate those who are more likely be to ready (On Track) from those who are not.
Reasons 9, 4, and 6 are the ones with the highest percentages for the On Track people.
What these three reasons signify is discipline in managing financial needs, coupled with an understanding of their risk tolerance with asset allocation.
Recognizing that everyone’s economic situation is unique we have to interpret and apply the information in this report in a way in which it can help with our own long term retirement planning.
How do we do this effectively?
Something to think about, and act on.