Wednesday, October 16, 2013
- Avoid spending savings unwisely. Set up accounts for different purposes so you do not dip into your savings.
- Do not live day to day financially. Plan for the long term.
- Failure to evaluate your housing situation. Prepare yourself for what you need in terms of your housing situation.
- Not keeping track of your retirement. Make sure that your retirement is growing significantly.
- Not funding retirement. Cost of living increases make sure you are planning for that in your retirement.
- Failing to have sufficient insurance coverage. Make sure you have enough life insurance, home insurance, and health insurance.
- Not drafting a will. It is important to start thinking about where you want your estate to go and make your intentions known in a will so they can be carried out.
See Shirley Pulawski 7 Money Mistakes You Can't Make in Your 30s, Business Insider, Oct. 11, 2013.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.