Saving for a Sunny Day
Did you experience it? Did you feel it? It’s been storming like crazy out west, in between breaks of warm sunshine, and it’s hard to believe that winter is passed, and spring is right around the corner! Were you already prepared for the upcoming warm seasons? Were you caught off guard by the unseasonal weather? How prepared is your family and your business when the unexpected occurs?
When I was young I remember my Mom teaching me the importance of saving for a rainy day. She will laughingly relate the story of when we took family road trips in the car. She would give my sister and I a roll of nickels and every time we asked “Are we there yet?” or “How much longer?” we would have to pay a nickel. Without fail, I always had most of my nickels at the end of the trip. If only it was that easy today to keep our money. Saving today is a strategy.
There are those that will tell you that putting a percent of your earned money in a savings account is a discipline that will pay off in time. There was a time in our economy when that might have made some sense, when markets were on a continual upswing. However, in the last 5 years, most will tell you that putting money into a savings account ,which pays a rate of return lower than the rate of inflation, means you are actually going backwards with the value of your dollar. Even if your funds are in an IRA savings account they are not safe from this phenomenon.
Investing is another way of saying saving. When we use this term there are many more options available to us such as investing in real estate, businesses, stocks, bonds. Each of these has its own list of pros and cons and requires some learning so you are able to make the best decision for you about how it will fit into your plan for building wealth.
So how are you saving for a rainy day? And, are you saving for a sunny day? Do you allow yourself to dream of vacations … and then actually take them? For many there is so much more month at the end of their money that saving has become a concept that is far off in the “someday”. Having an expert provide a financial forecast for your business and family is the best way to prepare for the unexpected and secure your future. Take action now by replying to this email with your questions. You may simply want to know how, or who to go to, or where to put the money you want to save. Hit reply and let’s get a dialogue going to we can address that for you. To find a solution for the unexpected rainy day and for help to ensure a brighter future, get in touch with me today. Rainy days and sunny days are an inevitable part of life; we can help you to be best prepared to weather them.