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Master Your Money... Master Your Future

No matter how much money you make, the earlier and more completely you master the money in your life, the more likely you are to achieve what everyone wants, a financially comfortable today and a financially secure tomorrow.

Mastering money in our society is not a simple task, because we tend to have mixed feelings about money. Cultural clichés demonstrate our confusion: “Money is the root of all evil” goes hand and hand with “He who dies with the most toys wins.”

A further complication to sound financial decision-making is that it requires knowledge of investments, taxes, risk management, estate planning, pension benefits, and other areas—coupled with an understanding of how these elements interrelate.

Who Masters Money?

When it comes to mastering money, those successful at it are more likely to have put their financial goals in writing; they plan and they plan on paper. Planners have a destination that results in a more organized and concerted approach to financial problem solving. After all, when you don't know where you are going, any path will take you somewhere. With a financial destination, you can select the paths that will lead you to your goals.

Anyone who has taken a thorough look at the major areas of his or her financial life, insurance, investments, tax management, estate planning, and capital accumulation, needs planning if he or she is unsure about whether the pieces are working together to produce the best results. Some people work with financial service professionals, insurance agents, attorneys, and accountants. These specialized consultants will help you define your goals and ensure that your chosen destination becomes the focus of your financial strategy.

Charting Your Course

You may be tempted to think that once your financial strategy is worked out, the picture is complete. Your plan is really just the beginning, the foundation of a continuing process. Your needs and wants may change as time passes, and so might your financial goals. The economy will change, and tax laws are likely to change. It helps to think of planning as a continuous process, like navigating a sailboat. Staying on course does not require constant attention, but does require periodic monitoring and mid-course corrections according to changing conditions.

Once you have decided on the best course for your financial security, it is time to implement your plan. Careful attention and commitment to this important step will bring you and your family closer to a more comfortable today and a more secure tomorrow.

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