Financial Planning

If you’ve already got savings and investment plans in place for all of your important life goals—retirement, house, kids’ college, and such--pat yourself on the back for taking charge of your financial future. But don’t rest on your laurels. Strong financial plans need to be adapted regularly if they’re going to continue to fit your needs through the years. Winston Churchill said, “To improve is to change; to be perfect is to change often.”

Spiritual counselors have been saying it forever: a wedding is not a marriage. That’s why scores of fiancés turn to trusted religious leaders to discuss their values before getting married; indeed, it’s required in some faiths.

According to a 2014 Gallup Poll, the average age for an American to retire is 62, though baby boomers, at least, don’t expect to call it a workday until 66. That same poll, however, also reported that people under 30 are most likely to plan on retiring before they turn 55—speculating that, perhaps, hope springs eternal among young people.

Building an emergency fund should take precedence over other big financial goals—even retirement and college savings. Why? Because when a crisis hits, people without emergency funds may resort to raiding their retirement or college savings (which can mean taxes and/or penalties), or dig themselves into debt.

Retirement Savings It can be a little tricky to figure out the best way to handle retirement savings during a job switch. Before you make your move, check your 401(k) policy or ask the Human Resources department to find out whether your employer’s matching contributions to your retirement plan are fully vested.