Although we live in a complex world, this doesn’t mean we have to accept nor invite complications. In fact, very often a simple solution is the best solution. So what are some possible non-complex approaches to complicated finances?
Advisor Tony Isola, CFP, has a few ideas for you to consider:
- Automate your retirement contributions and eliminate the default status of doing nothing;
- Try to stay married (divorce is a great destroyer of wealth);
- Buy experiences and not things, and de-clutter your life while increasing happiness;
- Do not spend $250K for a four-year private college education for your children;
- Exercise and eat right; this will save you a boatload of cash on health care in the long run;
- Bank at a credit union;
- Do not invest a dime on an investment “tip;”
- Don’t be cheap when finding an accountant;
- Check your investment portfolio annually, not every day;
- Don’t cheat people because karma is a bi*ch; and
- Get disability insurance.
Sir Isaac Newton chimed in on the subject as well: “Nature is pleased with simplicity and nature is no dummy.”