That is my fancy term for save more, spend less and investly wisely. Doesn’t “wealth management” sound more motivating? Every time I pass by MiniStop and get tempted to buy another cheesecake ice cream, I silently say “wealth management” to myself and then walk away. Same case when were eating out last Saturday. Simply saying “wealth management” made that all-meat pizza seem less appetizing.
Here are our specific steps to get closer to our 2012 goal.
1. Review our Finances. We made the following files
– Statement of Assets, Liabilities and Net Worth
– Summary of Constant and Variable Cash Flow
– Mutual Fund and UITF performance trackers
2. Organize our financial documents. Should something happen to one of us (knock on wood!), this expandable folder will make it easier for the bereaved spouse to move on.
3. Go back to budgetting. I am proud to say that Franco and I are very good at staying on budget.
4. Learn more about financial planning
– Read books – check! I highly recommend these two books.
– Subscribe to financial planning blogs. I did not just put them on my favorites. I subscribed to the blogs via email so I won’t miss a post.
– Attend a seminar. This is still a question mark. I think we know the basics already. What we need would be guidance on how to invest. Enter specific step # 5. Continue reading “Our 2012 Family Goal: Wealth Management”