Peaceful Financial Bliss for Your Posterity and Yourself

Planning for the future means planning your future finances. If you don’t have a solid plan for your financial future, it is assured that you and your loved ones will suffer. To prevent that and provide a peaceful future for your posterity and yourself, you need to start planning early. Below are some things you should certainly consider to create a blissful financial outlook.

Mortgage Serenity

Depending on where you live, circumstances are quite variable.  If you aren’t already a homeowner, one thing you should certainly plan for is eventually obtaining a mortgage on a house. Having a safe place to raise your family that’s set apart from the world leads to more serenity and positivity for the whole family.  While you may be used to renting, renting is a bad deal. You are paying for something you will never own. A house is also a far better place to raise a family than an apartment. Start planning for obtaining a mortgage early. You will need enough income to make the monthly mortgage payments and enough saved to make the down payment of 20 percent. With a smaller down payment, you will be forced to take on the added burden of mortgage insurance.

Meditate About Expenses

Planning for your long term finances also means planning for the different expenses related to your children. There will be a lot. However, don’t fret, take it all one step at a time.  Meditate upon where to allocate your funds.  This will help mitigate any financial situation. Raising a child to the age of 18 may end up costing $300,000. However, the expenses won’t end there. Your children will certainly need to go to college. That could cost $20,000 to $40,000 per child. If you have daughters, you may also be forced to pay for their weddings. Your daughter may want you to find the perfect venue for her wedding, and that will cost a significant amount as well.

Preparing Your Tax Returns

Finances can cause lots of stress and worry for families.  Practicing the art of financial intuition can help lead to success. Planning your finances also requires preparing tax returns each year. Don’t attempt to do your own tax returns unless you are very well versed on the rules and what deductions, exemptions and other tax breaks you should take. Professionals, like those at Wiesner & Frackowiak, LC, know that lowering your tax debt is always a good thing. Not taking the right tax breaks could mean paying thousands of dollars in taxes you weren’t actually required to.

Ponder Your Long-Term Future

Lastly, you will need to plan for your eventual retirement. Don’t expect Social Security to pay for your retirement especially if you are in a younger generation. Instead, you must obtain a long term retirement plan like a 401(k) plan, a pension, an IRA, a Roth IRA or a number other choices. Begin saving for your retirement with your first big paycheck.  Create a peaceful situation for your future life.  Reincarnate yourself into a great situation you can ponder to keep your financial hopes up.

Planning for the long term future for you and your family requires planning out your future finances. If you have a solid plan, you should be able to live more at ease knowing that you and your family will be provided for in the future.

Views: 90

Comment

You need to be a member of OMTimes Writer's Community to add comments!

Join OMTimes Writer's Community

Comment by Kathy Custren on May 14, 2016 at 5:52pm

Hi, Rachelle - for us to consider this submission, could you please rewrite it in line with our guidelines about using the inclusive third-person? Instead of the many "your" references, it may be best to address the "we/our" persons who may be in the audience reading the important messages being communicated. 

Another item missing is your 60-word bio paragraph at the end, please. Please message me once these changes are made so it may be reviewed once more. Thank you very much ~ Blessings! 

OM Times Magazine is a Holistic Green eZine with a Spiritual Self-growth Perspective for the Conscious Community.

Members


Forum

Are comebacks allowed?

Started by Anne Mari Ramsdal 5 hours ago. 0 Replies

New to Community - Help with Magazine & Course publishing process

Started by Leanne, The Barefoot Medium. Last reply by Crystal Presence Jan 9. 1 Reply

10 Spots Left This Year!

Started by Leigh Burton. Last reply by Crystal Presence Nov 23, 2018. 1 Reply

Credibility and Reputation

Join our group of authors on Goodreads: http://ow.ly/tUyAM


Google+
Alterative Medicine Blogs - BlogCatalog Blog Directory
Blogarama - Spirituality Blogs
Follow me on Blogarama

Help Support Us In Our Work and Keep OM-Times Magazine Free For All!!!




Where to find us

Google+

Contextual Links

Free Web Directory - Add Your Link

The Little Web Directory
web-ref.org

mondotimes

Find Local News Worldwide

mediaowners

Who Owns The American Media

Follow Me on Pinterest
Merchant Processing Service
web directories
Submit Your Site To The Web's Top 50 Search Engines for Free!
PullDirectory.com - Add free links and articles.

Ciford Web Directory

alarmg4s
SubmissionMonster.com

© 2019   Created by Omtimes Media.   Powered by

Badges  |  Report an Issue  |  Terms of Service

Omtimes writer's community