Marin Mommies presents another great guest article by Marin mom and financial planner Katy Song, CFP®.
Is the freedom that money buys worth the sacrifices you make to reach this freedom?
“What is important in life is life, and not the result of life.”—Johann Wolfgang von Goethe
Setting financial goals and creating your financial plan is all about determining your destination. And if life is about the journey, not the destination, then sacrificing today for tomorrow is a big contradiction. So, how can you live the journey you want and still reach your financial goals?
Step 1: Clarify your family’s goals first (financial and non-financial). For example: have six months’ worth of expenses in cash at all time as an Emergency Fund, travel as a family twice per year, be present and grow as a person each day, contribute to society, and retire by age 60.