The young have the greatest advantage in preparing for their future. Few take advantage of the opportunities before them like how time and compounding interest work hand-in-hand. Many have never been taught proper money habits. They just follow the same pattern of their family and friends. For young professionals, the most significant benefit of their youth is the ability to rebound from financial mistakes quickly.
Even though it may seem like retirement is a lifetime away, one day they will wake up and discover that their golden years are just around the corner, and they will still have to work. Financial planning is not just for parents and grandparents. With some discipline, debts can be paid off, savings goals established, and a healthy, enjoyable retirement can be within reach. The team at TSG Insurance provides financial services that help you attain your goals and live life on your terms.
Secure Your Financial Future Now with the Help of TSG
Not sure where to start on your journey? The very first step is to relax. You can do this! Next, review these steps:
- Determine where you want to go with your financial future. Just like you planned your school and career goals, you have to know where you would like to wind up, so you know when you have reached that destination. A budget is a fantastic tool. Think of it as a roadmap. Instead of your money slipping through your fingers, you know where it is going and can direct the ultimate outcome.
- Stop living above your means. If you spend more than you make, you will quickly discover that you are one crisis away from losing it all. The stress can affect your personal relationships and even your fledgling career.
- Make it a point to save an emergency fund. A car may break down, or a washing machine springs a leak. Avoid taking out the plastic cash to pay for repairs when you have the funds in a liquid savings account.
- Stay out of debt. By avoiding racking up debt, you not only spare yourself unnecessary stress, but you also save money from the interest you would otherwise pay to the creditor.
- Fund your retirement now. As soon as you can, set up a 401k plan through your employer. You can put a percentage of your pre-tax tax income (gross income), and often your contributions are matched by your employer. You can also look into TFSAs in which you contribute after-tax money. Each type has its advantages. A professional at TSG Insurance can assist you with various financial planning vehicles to meet your goals.
For over 30 years, TSG has served Alberta citizens prepare for their financial future, as well as, supplied different insurance plans to protect their homes, automobiles, and lives. Speak with a TSG Insurance professional today. Our experienced brokers will be happy to discuss your coverage options.
Contact us for a free quote, and we will respond as quickly as possible. Also, please feel free to call us toll-free at 800-830-9423 to book an appointment at one of our convenient locations in Calgary, Brooks, Medicine Hat, Edmonton, or Bassano.