Life and style, Money, US personal finance
Bernadette Joy says everyone should have their own vision worth saving for – and stay on budget
‘The dreaded B-word’: how to start budgeting
Before she said a word about paying off debt or investing, financial educator Bernadette Joy would ask her clients to draw a picture of themselves in retirement. “Where are you? Who are you with? What are you doing?” she would ask.
No one drew themselves on a megayacht or private plane, Joy said. Instead, she saw depictions of nature and time spent with family.
Create a detailed vision of your dream retirement so you have a clear goal to work toward.
Calculate your investment target by multiplying your yearly expenses by 25.
If you have access to a 401(k), contribute as much as you can – unless you have credit card debt!
Keep a budget and live below your means.
Continue reading… The Guardian
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