Your Money At Work: October

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A Charted Road Map, Not Hope,
Is Your Guide to Financial Goals

By Karen Stawicki

Writing personal financial advice for readers making, saving and investing money is a little like booking a cruise. Just as a lack of a systematic, detailed approach by a travel agent can ruin a vacation, the same by a financial adviser can definitely spoil your retirement. What I will share with you in the months to come just may be the ticket you are looking for.
    As a human observer and financial adviser for 25 years, it’s apparent to me that most people base their financial planning on hope. They hope they live a long time, never become disabled, never are sued and that the market never crashes.
    But how much control do people really have over life’s twists and turns? Precautionary behavior includes eating right, avoiding oncoming traffic, diversifying portfolios to minimize the risk and do unto others _ but, really, isn’t it all up to destiny?  Everyone needs to design and execute a financial plan that functions well under all circumstances, not one based on hope.
    Where to start? Take a look at the rules banks, lending institutions and investment companies play by to make money. Are you following those rules? Are you allowed to play the same game?

Continued...

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