When it comes to saving for retirement, I can’t emphasize enough how much you can benefit from starting early. I discussed this concept in one of my earliest blogs. It includes two graphs. One shows the benefit of starting to save for retirement at age 25 and stopping at age 45. The other shows what happens if you wait until age 45 to start saving and stop saving at age 65. The reason comes down to the value of compounding. The more years you give your money to grow, the more it can grow. If you have children or grandchildren who are part of the workforce, please share this article – or at least this message – with them. If they listen to it, they will thank you for it someday.
Are you a productive unicorn or a busy donkey? This article explains the differences – and I agree that it’s much better to be the former than the latter. Busy donkeys strive to fit more things into their days. Productive unicorns pause and cut their to-do list by 50%. In other words, focusing on productivity means taking a less-is-more approach. They also learn the difference between “urgent” and “important.” If you want to achieve peak productivity, you will stop focusing on looking and feeling busy. Instead, you will recognize the value of taking time for a break and recharging. This can help you achieve greater efficiency.
Many people do not have an emergency fund to cushion the impact of an unexpected financial blow. Ideally, you should hold at least three-to-six months of living expenses in your emergency fund. Some choose to put a year’s worth of expenses away. Many struggle to fund their emergency account. This article shares five tips to help you set additional funds aside. You may only have to change how you manage the resources you already have to do so. The fourth suggestion is one of my favorites: “Sell what you aren’t using.” My wife, Diana, has done this on several occasions as she purges items from our closets and other storage areas. It almost never hurts to “Reassess your credit card habits” as well. For example, our dryer broke down this week. We can fund the purchase of a replacement with unused credit card perks.
Not everyone aspires to be rich, but it can help to follow the habits of those who are. This list includes some great suggestions that can put more money in your wallet. Many of them can also improve your health and/or your quality of life. When I reviewed this list, I found that I practice many of these habits. Some of my favorites include:
- Never hate their job.
- Never neglect reading.
- Never sleep in.
- Never resist setting goals.
- Never skip the gym.
Many of these have become bigger parts of my life since I started Apprise. In fact, doing so was the best career decision I made.
When most of us think of estate planning, we focus on the distribution of our assets after we’re gone. If you have a large estate, you should also be concerned about trusts. You don’t want to overlook your views on life-sustaining care either. All these things matter. But we shouldn’t neglect the soft stuff. For example, consider the following:
- Attitudes toward guardianship – if you have minor children.
- Attitudes toward life during dementia.
- Attitudes toward end-of-life care. This can go beyond what could be provided by your will or advanced directives.
- Attitudes toward funerals, burials, etc.
- Attitudes toward the care of your pets. Please don’t forget about your furry friends.
- Attitudes about the disposition of personal possessions.