• Lower your monthly payments
  • Reduce stress and live your life
  • Avoid personal bankruptcy court

5 Key Retirement Factors Your Financial Plan May Not Address

Planning for the future is extremely important if you want your life to go smoothly when you begin to grow old. It’s quite important that you make a financial plan immediately as soon as you can in order to live life fully and comfortably in the future. You might not believe it, but other factors greatly influence the effectiveness of your plan. And no, they’re not your math skills or how much you earn in your job or how much you think you’re going to earn in the future. Things that you probably take for granted such as yourself, your habits and your mindset is what will determine your wealth in the future. What you need is a financial plan.


You’re probably thinking that I’m not making any sense right now. But the truth is, it’s the small things that ultimately determine where you will be in the future. The small things may not look like anything at first, but they’re actually going to be the one’s you’re going to wish you would have changed back when you were young. Things that your financial plan will show you to help you improve.

Let’s analyse some of these “small things” and see how fixing them can improve your chances of a successful retirement. Your financial plan will be the key to help you identify any areas where your finances need improvement.

Start Working On Your Assets That Aren’t Associated With Your Portfolio

This is one of the first and most important rules for your financial plan and that’s why it’s at the top of the list.

We have many material possessions, and is probably the reason why we have houses. Our houses are there to protect us and our family, to keep us cosy despite harsh weather conditions, and it’s there so we can store our possessions there. The problem is that most of these material possessions are just cluttering up our houses and most of us refuse to see that. Many of these material possessions can be immediately turned into cash and that cash can be used to invest in different things that can make your money multiply by tenfold. It’s important to note that a lot of those things can actually be an old bike or an old car you don’t use anymore, that rusty screwdriver collection in the attic or those old antique books you’ve been keeping for Christmas. Try selling these for a profit. Someone’s bound to buy these things and when they do, you’re left with a pile of cash that can go places.

Start Working On… Yourself

You may or may not know it, but in reality, YOU are your biggest asset. You are your own asset and what truly matters is what you’ve accomplished, what you can do in the future and what skills you currently have. Think about it: it doesn’t matter what type of job that you can get if YOU’RE not there to do it. Your best investment is yourself. So start maximizing that investment by expanding your horizon, learning more skills and budgeting your money assets better. 

Your Biggest Asset Is… Still You

Health is wealth. That’s probably one of the truest sayings in the world. If you’re sick and down all the time, you’re probably not going to be able to earn as much as you could if you were energetic and healthy.

  • Be sure to always take care of your body any way you can.
  • Exercise when you get the time.
  • Eat right.
  • Sleep early.

These are just some of the things you can do for yourself. It may not seem like much, but without good health, there’s not much you can really do.

Start Working On Your… Habits?

As mentioned earlier, the little things you do often determine the big things in the future. If you behave recklessly and splurge all of your money on shopping, then you’re bound to be on a one-way course to failure. It’s the little habits that matter the most. Money doesn’t grow on trees. You have to make ways to earn money. Discipline is the key. If you’re undisciplined and cannot control yourself most of the time, a good place to start would be with your habits. Do your best to start practicing good discipline. It’ll pay off more than you could ever dream to even think about.

Invest In… Your Family?

You may not know it, but your family is one of the biggest investments you could ever have. Apart from the inheritances you could gain from them, their love and care, their support and emotional care are the truly important things you can gain from them. Studies have shown that a person who was supported dutifully by their parents was more likely to succeed in life when compared to a person whom has had a rocky relationship with their parents. Our families are the people that care and support for us, and it’s quite important that we support them back. By investing in time with them, we are strengthening not only a family bond, but a financial bond as well. When you are faced with a myriad of troubles with your money, a strong bond with your family is bound to help you get out of it.

Examine and imbibe your financial plan. Your retirement will arrive in time and you will be ready for it if you do.