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Visualize a plan

October 18th, 2017 at 11:50 am

I think people wonder what they are saving for. Recently more and more friends keep saying the same thing. They don't know what they want out of life. Unhappy and not sure how to change it.

I tell them they need to sit with their partners and visualize a plan. They should write a list about what they want. Some can be short term, some can be long term.

I think people get bogged down in the tiny details and comparing themselves to others. It starts with "oh I don't have any money to save for retirement. Or it's too little." To it's impossible to save for a house, car, etc.

The first step is to sit down and write/think what's important. College for kids? Retirement? Paying off the house? Clearing credit card debt? No car payment.

Then you can look at each goal and make a plan. I will save 1% to retirement and up it every year. I will save $100/month to college. I will keep making car payments into a car fund.

Sometimes I think it's so overwhelming getting started that people throw up their hands and give up rather than just asking what is important? From that answer you can always sketch a more detailed plan.

5 Responses to “Visualize a plan”

  1. Bluebird Says:

    I agree, I think people who aren't already saving are overwhelmed and don't know where to start. How do you eat an elephant....

  2. rob62521 Says:

    You are so right. It is important to have a plan. I have a relative who has done everything by the seat of his pants. He worked in a great job and could have had a pension, but instead decided he would rely on Social Security when he retired, although the pension would have been far more. But he wanted the extra money in his paycheck. But he didn't save it. He blew it. They bought a house and instead of paying it off before they retired (they had a great deal and could have made extra payments) they still owe on it. He retired as did she and they still owe on it and he discovered that Social Security doesn't go as far. So, he works a part time job, but instead of paying down he house, he uses it to buy stuff and go out to eat. His wife cannot live at home anymore and needs nursing home care, but he isn't sure where they will get the money. So now he whines all the time about wishing he had saved more, wishing he had bought long term health insurance, and hints he wants money.

  3. Dido Says:


    There's no incentive to save unless you understand what the short-term sacrifice buys you in the long run. You need a clear vision of the future benefits to motivate yourself!

  4. Amber Says:

    Totally agree with you. For me writing down my goals/dreams are very important

  5. LivingAlmostLarge Says:

    But even short term goals like saving for a car or home repair seems out of reach for people. I hear a lot oh we have to do the bathroom or kitchen or some home repair but they don't save up to do it. Instead until it's really needed like a water leak or something drastic happens then they do it and wonder where the money will come from. We aren't even talking college or retirement. And the number of people I see who have no college savings for their kids is astonishing, especially considering how much money they make.

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