John Labunski Dallas - financial planning

 Financial Planning: A company that doesn't plan its finances? Inconceivably! A state that does not have its budget under control? Irresponsible! A private individual who does not have a long-term financial plan? The normal case!

 But why actually?

 Whether you buy a new car or save for retirement often just depends on how much money you have in your wallet at the moment.

 Unfortunately, this uncontrolled handling of one's own finances almost always ends in money worries sooner or later .

 This not only reduces the quality of life, but can also lead to mental illnesses such as depression .

 The thought of consciously dealing with your own finances has a deterrent effect on most people .

 Sure, long-term financial planning sounds difficult and complicated at first.

 You don't have to be a mathematician or a financial advisor to master your finances .

 With a little time and a calculator , anyone can create their own personal financial plan.

 Whether you are just starting your career or have already worked for 20 years:

 The best time to start financial planning is always now .

 It also doesn't matter how much money you make .

 Whether mini-jobber or multi-millionaire:

 A financial plan is always useful.

 But it is also clear:

 The lower the income, the more you benefit from good financial planning.

 Especially for larger purchases, such as a car or a residential property, many people have to resort to loans.

 At that point at the latest, detailed private financial planning is absolutely necessary .

 But if you only take care of a precise analysis of your finances in the short term, you have to expect to be negatively surprised.

 So it's particularly annoying when you realize that you can't actually afford your dream car or dream house.

 However, anyone who has long since started planning their finances for the long term is protected from such unpleasant surprises.

 How does private financial planning work?

 In private financial planning, the same methods are used as those used by companies or public budgets.

 A private household is financed primarily by income, which can be composed of income from work, capital income or transfer income.

 In addition, there are savings or any existing assets.

 This individual financial situation is the basis of private financial planning .

 With private financial planning, yours comes first

 ·         Financial,

·         family and

·         personal starting position

·         Recorded.

 For this purpose, a private balance sheet, a private profit and loss account and a private liquidity calculation are drawn up.

 In addition to the starting position, your personal goals are also part of the financial planning.

 A financial plan gives you answers to questions like:

 Which of my goals are achievable?

 What do I have to change in order to achieve my goals?

 Without financial planning, it is more risky

 At the same time, good financial planning should also take future risks into account.

 This includes short-term loss of earnings due to unemployment as well as potentially life-threatening events such as liability claims or disability.

 Financial planning is not only there to examine the current financial situation.

 It should also take into account future developments and changes .

 Comprehensive financial planning therefore includes long-term planning for stages in life such as training, career and retirement.

 Especially in times of increasing poverty in old age , it is important not only to keep an eye on the short-term future.

 Those who take care of long-term planning of their finances in good time not only save themselves a lot of worries, but above all ensure that they can enjoy their retirement with dignity .

 In addition to professional aspects, financial planning also plays an important role in leisure activities.

 With a financial plan, you can calculate a leisure budget that you can use as you please.

 Gone are the days when spontaneous purchases were associated with a bad conscience and the question of whether you could actually afford it. With a clear leisure budget, you can enjoy your free time carefree.

 Conclusion: Private financial planning is essential

 The thought of private financial planning may seem daunting at first glance.

 In fact, there are so many benefits to a long-term financial plan that it would be irresponsible not to delve into them.

 A lack of knowledge is not an insurmountable obstacle.

 If you need help or tips to get started, you can easily find them on relevant websites, in specialist literature or in professional advisory services.

 A private financial plan helps you to plan your life, your career and your free time.

 It offers important decision-making support and ensures that you always have control over your finances.

 Above all, long-term financial planning can protect you from financial risks such as over-indebtedness and poverty in old age .

 At the same time, it ensures that you are better prepared against the effects of unforeseen events, such as unexpected back payments, unemployment or disability.

  

Posted by: John Labunski Dallas

John Labunski - worst accumulation plan of your life

When it comes to financial planning, we often talk about goals and needs, financial or life, that you want to achieve with your wealth.

I am convinced that there is one that unites all of them, a kind of minimum result that every investor must aspire to: keep their money safe from inflation. Even if we come from years of low inflation this has not disappeared, and recently it is reviving new glories.

Inflation erodes the purchasing power of our money over time, it is the certainty of accruing a constant loss year over year.

Also in finance we often hear about PAC, an acronym for Capital Accumulation Plan. It means investing a sum of money constantly over time and with a predefined frequency. For example, it is rightly considered the main tool for those who want to build a wealth starting from a small monthly savings. Give up on petty expenses today to afford a bigger expense in the future.

Have they ever proposed you a CAP? Have you ever signed up for one?

Even if you don't know it, you probably have one: the worst accumulation plan of yours. It is an accumulation plan of which we are unaware underwriters.

The name of the worst pac of your life is called a checking account.

Think about it: the monetary fruit of our work ends up in a current account and often, removed what we spend, there it lies and accumulates, in fact. Here, this is the worst accumulation plan of your life. Because? The first danger of the money that remains in the account is, pardon the banality, to spend it. Don't get me wrong, you save up to spend a day and each of us has the right to have an adequate quality of life. Experience, however, leads me to say that often seeing the money immediately available pushes us to unnecessary expenses, precluding more important objectives. The big goal, personal or professional, can sometimes be precluded by a series of unnecessary expenses incurred in the past. The second worst cap danger of your life is the 0 rate. In fact, below zero! No return on the current account balance,

What to do? My advice is to start with a serious analysis of your financial flows and your planned expenses for the future. From here you can get a concrete idea of ​​how much it is worth accumulating in the current account and how much to allocate to efficient tools aimed at generating value and maintaining the purchasing power of your money over time.

 

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