Do your homework
Imagine your child coming to you with an acceptance letter from the school of their dreams. How will you ensure that they can continue to focus on school rather than how to pay for it?
More than just facts and figures
Retirement means different things to different people. No matter how you envision your retirement, the best way to make it a reality is to develop a plan and stick to it. Ensuring you have enough income and assets to live comfortably will allow you to retire from your job, not your way of life.
Increasing your savings
Do not delay – The longer you wait to begin monthly savings, the larger amount you will have to set aside each month. Pay yourself first – An automatic savings plan helps you put saving out of mind by ensuring that you will contribute regularly toward your purchase. Consider related costs – Are there any additional costs that may be related to your major purchase (e.g., the closing costs associated with the down payment for a house or visa/passport fees for a vacation abroad)?