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Flying by the Seat of Your Pants

Teresa Arrigo | Financial Advisor

Teresa Arrigo, RICP®

Flying by the seat of your pants? That won’t work in a toilet paper shortage OR in reaching your goals!

This morning, I picked up my grocery order and ran home to put everything away before heading to work. As I was restocking the kids’ bathroom, I noticed our collection of toilet paper and giggled a little at how “wealthy” we were with all that toilet paper. Then, a thought popped into my mind. A couple of months ago, Facebook was flooded with comments related to people’s varying levels of panic over toilet paper shortages. For those who didn’t maintain a stash like we did, this was a time that generated some serious stress… I mean, we ALL need TP! 

Now, you are probably thinking what does stocking up on toilet paper have to do with anything? Well, if you take this same concept and apply it to your spending habits, it can have a lasting impact. Do you fly by the seat of your pants when it comes to your finances? Are you praying the dollars stretch each pay period, or do you take time to manage your expenses and spending in advance to prepare for your goals? 

The Plan is Preparation

We need to shift our view on savings. Many of us see savings as a deterrent to our current wants. The reality is that you are always deciding between current consumption or future consumption of your finances. You can choose to consume your entire paycheck every time, but if you choose to delay some of that consumption for a time, you can reap the rewards of a phenomenal retirement.

When people were posting all over Facebook about the TP shortages, there were tons of hilarious alternatives discussed. But, here’s the thing… when we are talking about our retirement, there is no alternative to advance planning. There are no stimulus packages for retirement or scholarship programs. The only alternative to planning and saving for retirement is to keep working in some capacity or give up our ideal retirement dream for what we can actually afford. We are pouring our hearts into a career and giving it so much of our time right now. Do we really want to reach retirement age only to have to keep working? 

Take the Reins

We don’t have to do that. If we’ll take some steps now to take control, we can make sure that retirement is what we want it to be. Whether you would like to visit Paris, Arkansas or Paris, France, you deserve the opportunity to do that. For some, this means taking time to make sure that current savings are on track to meet future goals. For some, this means creating a strategy to eliminate debt and free up funds to save toward goals. 

Whatever you need to accomplish to get to your retirement destination, our team can provide the education and tools to help you succeed. We have been helping people identify their goals and create strategies that help them work toward their goals for years. We would love the opportunity to help you determine what your unique ideas for retirement are and help you create some strategies to work toward achieving them. 

Are you ready to stop flying by the seat of your pants to make some progress?  Click here to reach someone on our team!

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

Written By:

Teresa Arrigo | Financial Advisor

Teresa Arrigo, RICP®

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