Prosperity Points for Financial Football

on September 1, 2017

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Everyone loves college football just about as much as they hate organizing their finances. However, the two activities have more in common than you might think. They require a good offense, a solid defense, and some effective special teams.

To play financial offense, you have to be proactive with your money. These steps include creating a budget, organizing your portfolio, and funding your retirement. Complete some tax planning to be sure you are maximizing tax savings opportunities.

To play financial defense, protect yourself from risks. Own enough life insurance, and look into other appropriate policies like disability and long-term care. Create an estate plan of legal documents and a simple list where all your assets can be found.

Finally, create a strong special team. Work with knowledgeable professionals who can help you implement your financial plan. Only do business with financial professionals who are willing to hold a fiduciary relationship with you, acting in your best interest.

Although creating a financial plan isn’t as much fun as the Saturday afternoon game, the results can last longer than your lifetime. And if you start today, you will have an initial plan done before the bowl season!

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