Planning for the future is important to all of us, yet few of us have any guidance in developing a concrete plan to help us reach our ideal financial future. This does not have to be as complicated as many of us would like to make it. Instead, I believe we can Take a simple, no-nonsense approach to building stability in our financial lives using common long-held principles on how to work on creating a foundation that establishes true security, equity, and wealth accumulation.
Building a Foundation
As with building anything (whether it be a house, business building, fortress, etc.) , financial stability starts with the foundation. If the structure does not have a good solid foundation in place, although it may seem sound and handle regular daily activity, when something goes wrong it will collapse in upon itself. Financial stability is no different, and you should start thinking of it in just that way. You can invest and accumulate wealth, but if an unexpected event occurs, and it eventually will, you may find your plan falling apart and your money dissipated on expenditures rather than your desired goals and dreams.
There are four key areas in the foundation that you should focus on, and we will cover each of these in detail. They are: proper budgeting & debt elimination, building & maintaining an emergency fund, having an estate plan by creating a will, and purchasing the correct insurance to protect your assets. By breaking down these four pieces of a good foundation and working on them, you will start to put together the building blocks that can withstand almost any hardships that attack it.
Copyright 2008 Steven Kay
About Steven Kay: Steven Kay is a media consultant, and a talk show host and producer, whose recent projects include “Life Business and Money”, “The TALK 650 Morning Show”, "Wealth911.com Radio", "Small Business Today Radio", "Everything Talk Radio Network", "BBB Straight Talk", "Global Evolution", "Business Builders Radio", “Retirement Wealth Talk Radio”, "Houston Real Estate Today", "The Other Side", "The Weekly Landing", and "PEP Talk". He is also currently an on-air personality with KSBJ-FM in Houston. His company Steven Kay Media LLC is an independent media buying agency and consultation firm that specializes in talk radio advertising and marketing, as well as producing and hosting talk shows. They work with entrepreneurs, service professionals, and small to mid-sized businesses to create affordable and effective campaigns utilizing broadcast media. You may contact Steven Kay directly at 713-STEVEN-K (713-783-8365).