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Your Online Guide » Guide to Finance » Certificate In Financial Planning

[S1005]Stimulus Plan Will Work
by Wayne Miller, Way
The first question that may come to mind is when the right time to start planning for your retirement might be. The answer is that if you are asking the question, it is the right time. You really cannot start planning too soon. If you could start putting money back for retirement as early as right out of high school, that would be just that much more time you have to build up a really comfortable retirement nest egg that will serve you well when you need it in your golden years.

But most of us start thinking about retirement in our adult years and usually in association with some big life event such as getting married or having a baby. So we have one word of advice if you have been thinking about beginning a retirement plan. That advice is stop thinking about it and take action. If you make the subject a focus for you and your spouse to look at, you both will be glad you got off the dime and got moving on a plan.

Often the trouble with making a retirement plan is you do not know where to start. Too many people just wait for their employers to introduce a 401K plan and they just dump some money in there and count on Social Security to be there in a few decades. Then they call it a day and call that a retirement plan.

You and I both know that your security in your golden years is too important to not take more seriously than that. So set aside some time each week for both of you to sit down and start thinking about how to create a retirement fund and how to plan to build a retirement plan that you can grow into. The first step always begins with you.

If you do not know where to start, then admit that and set about to do some reading to get ideas. You are doing that right now by reading this article. But get out there on the internet and find some of the great books out there on retirement planning and take some time and read them. You will start out ignorant and end up an expert in retirement planning.

Keep plenty of notes during the discussion and learning phases so you have a road map of ideas to build into a plan for building a retirement fund. Once you have a simple plan, its time to talk to a financial advisor. If you trust your bank, go talk to them and see what they can do for you. Or you can seek out a friend or someone in your community who you know will be able to steer you toward how to build a retirement fund that is structured properly to protect your retirement money from taxes and be there for you when you need it when you are old and grey.

Now it is time to kick it up to the next level. Once you have a plan and perhaps are seeing it start to take off, start learning about investments. There are lots of places you can see your retirement funds go that will give you a nice yield that can make that fund grow more quickly do to shrewd investing. You can divert money to real estate, the stock market, mutual funds or other well know investments. Diversify where you put your money so no one financial reversal can whip out your retirement funding.

Above all stay on top of your retirement fund and your retirement plan. Review it together frequently to see if your retirement goals are still the same and your investments and pans for building our retirement fund line up with that plan. By making retirement planning as big a part of your thinking as planning your family or your career, you will give it serious attention over the years. And the result will be a strong financial plan that will give you good resources to enjoy a happy and worry free retirement life.

On the whole, advertising in Phoenix is as good as that in any large metropolitan area, but too often it can lack impact because it may not have resulted from sound planning. A marketing plan, in reality, is a map. And if you don't know you are going, any road will take you there.

As an Arizona-based public relations, marketing and advertising agency, we have an opportunity to visit with several small-business CEOs during the course of an average month, and find that they are quite aware of what is going on in their marketplace; aware of its opportunities and challenges and aware, at least in general terms, of the movements and actions of their key competitors.

What seems to be lacking – and my friends at other strategic marketing agencies concur -- is a comprehensive, systematic plan to combat the negative factors while effectively harnessing the positive things it is in their power to bring to bear on the situation. Most seem to rate high in analysis and low in execution. In most cases, I detect the presence of that storied paralysis by analysis syndrome.

Where does one start?

As the sage said, "One starts at the beginning." Ask yourself and key staff, if one is available to you, some basic questions, and don't stop until you are satisfied with the answers. Topping the list should be seemingly obvious questions like, "What is it we actually sell, and whom should we be focusing on as best prospects?"

Next, questions like, "What do we do -- and have -- that is better than our competitors?" and, "What needs attention and improvement" should be posed. As for those positive points, you must conduct a thorough self-examination of just what it is you are -- or should be -- doing to exploit your advantages.

Most public relations agencies stress the fact that no such examination should be conducted or concluded without homing in on your marketing message. Is it clear and well presented, as well as suitably and attractively illustrated? Is your branding dominant and does it project an image to which your key prospects are likely to respond? Or (God forbid) is it kind of scattered and indistinct?

Facing your fears

Be prepared for various worst case scenarios (ref: Murphy's Law), or as one of my cowgirl friends says, "S____ happens!" Those of us who have been in business for a long time know that, sooner or later, disaster can -- and will -- strike. As the saying goes, it's not a case of if -- but when.

Marketing consultants see it all the time: Your biggest client decides to go elsewhere; your star salesperson quits and takes two or three key accounts in the process; business slumps for an extended spell; expenses soar and -- what do you know? -- negative cash flow comes calling, along with some of your major creditors.

Advertising gurus seem to agree that the important thing in your planning is to have a plan of action that can head off such a tragedy or, at the very least, kicks into gear in order to turn the tide in the event they do. The best remedies usually involve a combination of expense cutting and business promotion, but inasmuch as ineffective or slow-acting promotion is absolutely unaffordable at such a time, that alternative plan had better be ready to roll out -- now!

10 keys to an effective plan

• Form a vision of what you plan to achieve.
• Develop a plan to make your vision a reality.
• Judge whether an opportunity is one to seize or let pass within the context of understanding whether or not it fits into your goals (you can't act on every good idea).
• Make sure your plan gives you a framework for making decisions.
• Get accustomed to making choices.
• Understand that the "perfect solution" is never going to come along (looking for perfection is merely a way to avoid making choices.
• Get out of your comfort zone (change is always uncomfortable).
• Make a real commitment to progress.
• Get used to saying "yes," get used to saying "no," and do both with commitment and conviction.
• Recognize opportunities, and, then grab on (if you don't "pull the trigger," you can't hit the target)

Article Source : Financial Services New York

About Author
Both Wayne Miller & Allan Starr are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Wayne Miller has sinced written about articles on various topics from Parenting, Finances and Financial Planning. Wayne Miller has written two e-books and has traded serious money inside different stock and commodity markets. One is called The US Financial Crisis of 2007-2008 and the other e-book is called Opportunity of a Lifetime.. Wayne Miller's top article generates over 9900 views. to your Favourites.

Allan Starr has sinced written about articles on various topics from Business Marketing, Internet Marketing and Marketing. Allan Starr founded Marketing Partners in 1976. The Phoenix-based firm provides local, regional, national and international strategic marketing, advertising, public relations and sales promotion services for a diverse client list. He also has been a natio. Allan Starr's top article generates over 3600 views. to your Favourites.
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