Recipe for financial success: Easy as Pumpkin Pie

While it is possible, financial success does not have to be measured with Fanch French cake: millions in savings, destructive spending, complex investment statements, and expensive guidelines. The key to financial peace is like a simple and humble, but completely satisfying Pumpkin Pie recipe. You just need a few key ingredients handled with a certain level of care.

Share this article with friends and family who you think could benefit from planning! It’s really easy as pie.

Recipe and tips for financial success

Know what to try to cook

Have you ever tried to cook a recipe that you didn’t like or saw a before photo? It’s very difficult. It’s very hard to create something when you don’t really know what’s going on.

Financial planning is no different. You need to see with purpose the future you want to live.

Also, your future doesn’t need to look like anyone else’s. Seriously, do you want to know the secret? My family doesn’t really like pumpkin, so I made a lemon meringue. Your financial goals don’t have to look like anyone else’s; The important part is having a goal and purpose that makes you happy.

Make sure you have all the ingredients and tools

Following a recipe is a lot easier if you know what ingredients and tools you need and have all those things on hand.

The ingredients and tools needed for financial success include:

• Income (and spending less than income)
• Your values
• Sufficient storage
• Investing money
• Protecting Yourself From Accidents
• Others know it

We have recipes: The Boldlin Retirement Planner is a complete recipe book for financial success. We will take you step by step for the future you want.

Read the entire recipe before starting

One lesson I remember from learning to cook as a kid? Read the recipe to the end before starting.

Following any recipe requires a sequence of steps that may or may not make sense without understanding the end goal. Also, if you take the shortening too early while baking, it may lead to a bad dish. Do not press the butter, and you will keep a thick and greasy crust. Remove the pie from the oven too Earl, y and the custard is an oozy concoction.

This is exactly what happens with your financial life. You want to make sure you have access to all the necessary ingredients and understand how to mix them together in the right proportions, in the right order, and with the right strategies to achieve the financial success you desire. You need a financial plan for the rest of your life.

Use Boldn’s retirement planner to create and maintain your financial plan.

Your Budget: The pie crust or foundation of financial success

How much you earn, how much you spend, and how much you can actually save is the foundation of financial success. It’s bankruptcy or the bottom line of your financial pie.

You need to feel in control of your daily and monthly income and be on track to meet your long-term financial goals.

Keeping a budget for today and planning for future spending needs is essential to your financial success and the keys to peace of mind.

Invest: Bake your money

So, if we can continue the analogy, investing is like baking your own pie. Your pie will be a mess if you don’t put it in the oven and wait for it to do its thing. Baking a pie has a kind of magic. You put the Ooey Gooey mester in the hot device and leave it alone while it turns into a stacking cust with an oily skin that, if you are a pie lover, is completely satisfying.

Also, you don’t want to be checking the oven all the time and making changes while your pie is baking; You should set it and forget about it.

You can use the same strategy for your investments. Ideally, you stick your savings in sensible investments and simply wait for the money to compound. Since the time frame is long enough, ignore the highs and lows and let the markets do their thing, especially if you keep your investment strategy simple. Many experts recommend a portfolio of index funds that you buy and hold for the long haul.

NOTE: Pumpkin pie is one part of the Thanksgiving feast. Also, depending on your investment goals and financial needs, index funds can be one type of asset in your entire portfolio. Here are some resources to help you figure out what pans you need and the best baking times and temperatures for financial success:

Best asset allocation in different years

Is the Buket Retirement Strategy Right for You?

Distribution of sample goods

Manage credit: In order to achieve financial success, you will want to make the right recipe space

What is the credit analogy for the Pumpkin Pie recipe? Credits can be a substitution you have to make if you don’t have all the necessary ingredients when you start a recipe.

Sometimes repurposing recipes produces good results (Chinese five spice instead of cinnamon) and sometimes disaster (salt instead of sugar). The same is true of debt.

Bringing in credit that helps you get ahead in life: Some college loans, home equity loans, and some car loans can contribute to your financial success (especially loans, which can be long-term investments).

However, some debt can penalize your financial life and make it difficult to date.

Manage risk

A few years ago, a few days before Thanksgiving, our oven had a habit. It will start, then shut down randomly. We called the repair people, they were booked. We checked what could possibly be wrong and ordered parts from Amazon, they didn’t arrive on time. In the end, we were fired with it and just managed to get the turkey and all sides cooked by turning the oven and turning it off every 10 minutes or so.

But, boy, I wish we had a double oven – a spare.

For financial success, you’ll want to have backup plans in place for things that might go wrong: Inflation, long-term care, and long-term care for the market and rising stocks. However, you won’t be able to think and plan for all the possibilities, so here are a few more tips:

• Be quiet and flexible
• Have enough money to cover the unexpected
• Carry the right insurance
• Check out 21 things that could go wrong for your financial future

Don’t forget the whipped cream: Preactize what’s important to you

Budgeting, investing, debt and risk can all be very stressful. However, money is not the only burden. In fact, money can buy happiness, especially when you use it to achieve what is important to you.

You want to organize your money so that you can live according to your values ​​and what makes you happy. After all, I don’t know anyone who really likes pumpkin pie without whipped cream (or ice cream). Your financial health also needs ice cream.

Share with the people who matter to you

What’s the real point of baking a pie and cooking an entire Thanksgiving feast? Sharing with the people who matter to you.

There is one thing that some people regret about their death, and that is not spending enough time with their loved ones. So, whether it’s sitting down together at the same table or a holiday phone call, prioritize the people who matter to you and how you spend your time.

A true plan for financial success is planning to use your time more than how to spend and allocate your money.