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For example, for younger folks, if you have more than just one child,For Smart Financial Planning – Know Thyself And Thy Situation, the odds are good that at least one of them is going to need braces,converse all star; both of ours did at $5,000 a pop,sac longchamp pliage. If you don’t have a full dental plan,converse pas cher, then you need to put money aside which,longchamp pas cher, in some years,sac longchamp pas cher, might force you to make tough choices about how to allocate your monthly or annual savings allotment. With the increasing chance you will need long term care at some point, be aware that long term care is expensive,prix converse, believe me,longchamp pas cher, and this planning must be started early,sac longchamp pas cher.
The problem is that if you don’t set aside money for things we know are going to happen, we are forced to either borrow (via credit cards or credit lines), or try to finance them out of cash flow or cash in our precious investments,sac longchamp. And if the latter happens,converse pas cher, dollars to doughnuts your investments will be worth less than when you bought them at the very time you must, must,sac longchamp pas cher, must sell,For Smart Financial Planning – Know Thyself And Thy Situation.
The same goes for things which only “may” happen,longchamp pas cher, and with these events we all-too-often procrastinate or tell ourselves “It won’t happen to me” stories,converse all star. Phooey,converse pas cher…
You’d be surprised how many people are invested 100% in equities and mutual funds,converse homme, with no cash, no excess cash flow,longchamp pas cher. This virtually guarantees that they will have to sell assets at some point,converse all star, which can be a disastrous when you consider that a bad stock market can often last for 6 or 7 years,sac longchamp 42727
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When you’re making a savings, investment and asset protection plan,sac longchamp pas cher, try looking ahead at least five years,longchamp sac, asking yourself what you know you’re going to have to spend during that period, and whether you have the excess cash flow to manage those expenses.
But there’s more – What about insurance coverage for those emergencies and catastrophes that can happen to the best of us,converse pas cher.
Other important aspects of Know Thyself are your work and life habits,chaussures converse femme. Are you a procrastinator,boutique longchamp? Are you disorganized? Do you have a short attention span? Do you have high stress periods where you can’t concentrate on anything but your work? Do you go comatose when things go badly with investments?
If you answered yes to one or more of those questions,sac longchamp, you shouldn’t be managing your own portfolio. But if you are managing your own portfolio,sac longchamp, it should be a super simple portfolio that allows you to invest and rebalance without too much brain work,converse pas cher homme.
At the end of the day,longchamp pas cher, knowing yourself keeps you from making financial plans that,converse all star, because of your character or situation, are likely to fail.
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Begin today, please, for your loved ones’ sake.