We’re all striving to maintain a comfortable lifestyle. The difference is how each of us defines “comfortable.” Perhaps you’re paying for your child’s wedding, investing in a second home, buying a boat, or want to do some traveling. And chances are, you have more than one of these goals and are realizing how difficult it is to save for all of them.
Investing can be a financial juggling act, and you don’t want to drop anything that’s important.
Two words: don’t panic
We know it can be overwhelming to try to balance your goals – which makes it that much easier to put off saving for them. But we also know that putting an investment strategy in place can help you save for your goals.
The first step is identifying your specific goals. That way, you have a better idea of how much you need and when you need it; and we can’t stress enough: The earlier you start planning and investing, the greater your potential returns may be.
Although you can say the philosophy is based on investing for the long-term, you will also want some liquid assets for your necessities, such as shelter and food. Supporting your lifestyle is not a need in isolation of others; by looking at the big picture, you can help to ensure that you’re saving for both your basic and lifestyle needs.
Also Read Forbes richest families