Monday, May 27, 2019

Financial Mistakes You Can Make Now In Your Family



Whether you will live well or not at old age depends on your attitude and things you do right from your day one at work or your business. There are some mistakes you must never make if you do not want to live in poverty and penury in your 70s and 80s.

Don't make the following mistakes if you don't want to be a liability to your children in retirement at old age.

1. Failure to Plan for Retirement
Most people forget the fact that they will retire one day or can no longer go out for businesses. Though you may not be sacked, age will definitely catch up with you one day. As you plan your financial programs, it is highly important that you prepare for retirement.
No matter how tedious or enjoyable your job or you business is you will have to retire one day. Plan. Think ahead.

2. No Vision, No Goal 
Failure to have vision today will deny you possibility of living in distinction tomorrow. What is your vision? If you don't have a goal you will live like a goat.

3. Desire to Please your Extended Family to the Detriment of your Future
According to Bill Cosby he said " I don't know the key to success but the key to failure is in trying to please everybody." Don't dip your hands into your savings or investment because you want to please people around you. If you seek to please everybody, you will displease your future. Have a financial plan and stick to it. Give your future a meaning by having a meaningful plan and objective. without any external interference.

4. Failure to Learn from other People's Mistakes
Others fail in other for you to not fall into the same error, by learning from their pitfalls. Learn from mistakes of people around you who retired due to age yet still nurse the wounds of their mistakes while in active service. Learn from the regret of others so you don't become a laughing stock

5. Living Beyond your Means
If you must have something to fall back on tomorrow, you must not live beyond your means today. Dont spend beyond your status; dont spend beyond your means, buy what you can adequately pay for .Do not destroy your future because of today's pleasure.

6. Too many Children 
Most people tend to have too many children believing that God will takke care of them. Compare your salary to the financial demand of education in the country. Plan your family apply your wisdom 



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