What ARE You Saving and Investing For?

We hear it everywhere--save for retirement, save for college, save for . . . what?  So often we go through the process of putting money in 401(k) plans, 403(b) plans, or IRAs that the activity becomes rote.  At the end of the day, we forget to ask ourselves the key question:  What am I going to do with this money I'm saving?

Many people never ask themselves this question.  However, the simplest answer for most is: I am saving this moey so that when I am no longer working, I will be able to have the lifestyle I want. 

Great.  Now what does that mean?  Do you want to stay where you currently live?  Do you want to travel?  Leave money to other family members or charity?  All in all, how much wll that cost? 

Ask yourself these questions, then figure out your current expenses.  Will the way you want to live be more or less expensive?  By how much?  And how much will you need to pay for it all?  

It is our job to help people figure out exactly what it is they are saving and planning for.  If you don't have all the answers today, that's perfectly fine.  But if you want to begin a conversation about how to figure out what your goals are or how to get there, sign up for a "Where am I?" assessment or call us for more information at 646-630-0980.