Are you a Federal Employee? Do you realize how important a financial plan really is at every stage of your life?
Having a financial plan is probably the most important part of managing your financial life. Having a sound, flexible financial plan today is more important than it has ever been. Resources are limited and the needs of families are increasing without the financial resources to support them.
More and more Americans are unemployed or underemployed than ever before in recent times. Military service personnel have returned from two wars and unfortunately for many there are no jobs waiting to welcome them home and to thank them for their service to the nation. A student of mine told me that financial plans are like ether if you don’t have a job. He said what is the need to discuss plans if you don’t have money?
His assertion was about half and half. You don’t need money to plan, but you do need a plan if you expect to acquire anything whether it is money or building a spaceship. Neither endeavor just sort of happens for most individuals. Some individuals are born into financial stability and even with that they must have a plan to keep the financial stability that is a part of their birth. For those of use who aren’t as lucky, the planning is even more important.
Plans are needed for every aspect of our lives to be successful. Not everybody will actually put pen to paper and actualize formal plans. In order to see where you are going and where you need to go to make your plans a reality, I would suggest putting pen to paper or fingers to keyboard to chart your path, layout your plans. Plans are made to change that is why good plans have a degree of flexibility. Just as life changes, the best laid plans also change.
There are so many things we have to keep up with today and although automation makes it easier, we still need to organize our goals and objectives. We need to set goals that are specific. We need to determine exactly what it is we wish to achieve. We also need to set goals that we can both measure and manage. Don’t worry about the kind of goals someone else is setting. Your goal setting should be unique and tailor-made for you. Check to make sure you can reach the goals you set by ensuring they are realistic with sensible time horizons. Make sure your goals are SMART.
If you have to change and/or amend your goals as circumstances change, go right ahead. After all, they are your goals. They are your goals for the future. Thinking about and actualizing a financial plan or just a plan for your life that includes all aspects of your life is the best investment you can make in yourself.
To my student, I applaud him because he was thinking and he is very concerned about securing a stable financial future for himself. I know that because he is a student who has now secured a rather handsome internship with the Federal Government. He now has a job and he is discussing plans for his future because he now also has some MONEY.
P. S. Always Remember to Share What You Know.