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Too many people rely on luck or chance to meet their financial goals.
As if being in the right place at the right time or getting lucky with a hot investment was the missing ingredient to cashing in on the pot of gold at the end of their financial rainbow.
To be sure, it helps when the stars align in your favor. And if a lucky charm in your pocket makes you feel better, I am all for it.
But if you are serious about your financial well-being it’s going to take a lot more than a lucky roll of the dice to help you meet your goals.
Below are five ways you can stack the odds in your favor and reduce the role of luck in your financial life. Hint: The last one will surprise you.
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Many of my clients use dividends as part of their long-term retirement income plan. Dividends provide consistent, recurring income that often rises with inflation.
Even clients who are still in the “accumulation phase” of their investment plan can benefit from owning stocks and mutual funds that pay dividends.
Click here to see how.
When I turned 50 I had an ambitious bucket list. Most of the items on my list were things that I wanted to do “some day”. I quickly realized that “some day” may never come, and that if I ever wanted to check any of my bucket list items off the list that I had better get started.
In fact, some of the most important things on my bucket list were simple, day-to-day things that I was at risk of missing out on if I didn’t make them a priority in my life.
Below is a short video that suggests a different way to look at your bucket list.
A New Way to Look at Your Bucket List
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Most New Year’s resolutions are abandoned or forgotten by the end of the month.
If you need confirmation of this fact, just count the cars are in the parking lot at your local YMCA this Saturday and compare that to the number of cars you see a month from now.
Odds are parking at your local Y or gym will be a lot better in a few weeks.
Rather than tell you to save more, spend less or to get your finances in order (a wishy-washy goal list in the first place) let me suggest a short list of specific action items to check off your financial to do list before the year is over.
But why wait? If you apply yourself, you can probably cross these items off your list in the next couple months.
Five things to check off your financial to do list in 2019:
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Today I’m featuring a guest post by Jeannie Burlowski, author of the book LAUNCH: How to Get Your Kids Through College Debt-Free and Into Jobs They Love Afterward. You can see over 50 reviews of LAUNCH here.
Are you parenting a student of any age who’ll be in college next fall? If so, one of your most important tasks this year will be to fill out the Free Application for Federal Student Aid (FAFSA) as soon after October 1st as possible. This applies to every student and every parent—no exceptions.
Are you convinced that for you, filling out the FAFSA will be a waste of time—because you make far too much money to qualify for any college aid? Check out this article on 7 Reasons to Fill Out FAFSA Even if You’re Rich.
And then get out your smartphone.
As of October 1st, 2018, you can fill out the FAFSA on your phone.
For years, students and parents filling out the FAFSA were required to complete the form using desktop computers. In 2018, though, a new, mobile-friendly version of FAFSA was released.
Here, 8 things you’ll need to know before you fill out the FAFSA on your phone.