Smart Money Action Plan
By Saghir Aslam
Rawalpindi, Pakistan
(The following information is provided solely to educate the Muslim community about investing and financial planning. It is hoped that the ummah will benefit from this effort through greater financial empowerment, enabling the community to live with dignity and fulfil their moral obligations towards charitable activities).
If I asked you to name your most valuable asset going into retirement, my guess is that you would say your home or your savings. I disagree. Your spirit _ your attitude _is the key component in creating your intimate retirement. And it makes me so sad _and frustrated _that many of you are focused on beating yourself up over mistakes you have made or regrets for what you might have done differently years ago.
That must stop. Right now.
It is a waste of time to focus on what you don’t have, or could have done better. What is in your control is making the most of what you have today, and taking steps to create the future that you want and deserve. If you’re able to face the future that you want and deserve. If you’re able to face the future without fear _if you can face it with the strength and conviction that you can handle whatever comes your way _well, your future will indeed be bright. Being able to envision better things ahead is what makes the so-called golden years truly golden.
To give yourself a life where you are not constantly stressed about money requires making key moves today. Not waiting. Not hoping. Not giving up.
If you are ready to start, I am ready to help. Here are 10 steps you can take, right to make your ultimate retirement a reality.
So many of you tell me that you wish you could make more progress towards your financial goals _ paying down debt, building up savings _but that you simply don’t have the money to make it happen. You are so sure there is no way you can create your ultimate retirement.
Again, I disagree. I think you may be able to spread less today to pay for the tomorrow you want.
What I see is that many households allow their spending to veer off to fulfilling wants more than needs. Every time you are considering a new purchase _be it furniture, a cellphone, a computer or a remodeled bathroom _ask yourself if you are paying the only expensive option available.
Your goals should be to spend as little as possible to fulfill your needs. Live below your means but within your needs.
When you live below your means but within your needs, you also set yourself up for a less expensive retirement. If you lower your expenses today, you will have fewer expenses to pay for in retirement.
(Saghir A. Aslam only explains strategies and formulas that he has been using. He is merely providing information, and NO ADVICE is given. Mr Aslam does not endorse or recommend any broker, brokerage firm, or any investment at all, nor does he suggest that anyone will earn a profit when or if they purchase stocks, bonds or any other investments. All stocks or investment vehicles mentioned are for illustrative purposes only. Mr Aslam is not an attorney, accountant, real estate broker, stockbroker, investment advisor, or certified financial planner. Mr Aslam does not have anything for sale.)
