| Financial stability takes so many things in today's | | | | Not only do have to save for retirement in any |
| society. I was talking to my mother the other day | | | | number of plans that are available. It is essential that |
| about their retirement funds. She and my father are | | | | you live within your means. Using credit cards to |
| both in their 70s. They are one of many couples that | | | | purchase things that you could not afford is stupid. |
| lived in a day where you just put your time (30 plus | | | | Paying interest on consumer debt is like throwing |
| years) in with a company, you retired and collected a | | | | money away. Avoiding consumer debt will get you |
| pension. That is how they did it. My dad retired at 57 | | | | will on your way to being financially stable and having |
| (something that is practically unheard of now) | | | | credit card debt can lead to years of unnecessary |
| because he had 30 years in with the state and he | | | | interest payments. |
| could begin collecting his pension. | | | | Having enough insurance to cover medical expenses, |
| The company I work for also has a pension, but | | | | planning and saving for retirement and avoiding |
| they just announced that this is the last years for it, | | | | consumer debt are three things that will help you gain |
| but our 401K contributions will be matched through | | | | financial security. Another thing you will need is an |
| the first 6%. This is still more than the average | | | | emergency fund. The job market is very unstable |
| business gives these days. Our health insurance | | | | right now. More companies than ever before are |
| changes this year and I am finding that it does not | | | | eliminating positions and downsizing and unfortunately, |
| pay as much as our previous insurance. The bottom | | | | this is also something that you have to be prepared |
| line is if you don't take the time to plan for your | | | | for. The best way you can do this is with an |
| financial stability, you are going to find yourself with | | | | emergency fund. You need an account that is liquid |
| financial issues that you may not be able to recover | | | | that contains 6 to 8 months of expenses. |
| from. | | | | This may seem like a lot, but not having anyone one |
| You have to make sure you have enough insurance | | | | of the previous accounts and needing it can lead to a |
| and now you may want to consider a flexible | | | | temporary financial hardship or in a worst case |
| spending account for amounts that are not covered | | | | scenario, can lead to financial ruin. You will not |
| by your insurance. This is actually money you save | | | | become financially stable overnight, but with |
| yourself, but it is before tax dollars that you can use | | | | persistence you will see your account balances |
| to cover medical expenses not covered by insurance | | | | increase. |
| and things, such as; vitamins and cold medicine. | | | | |