Preparing for retirement requires a financial plan that considers a variety of factors. According to the Financial Planning Association of Minnesota, "financial planning is a process and not a product." Your financial plan is a long-term approach to managing finances to achieve a dream or goal for the future. At the same time, a financial plan must consider a variety of barriers that could challenge your ability to reach those goals. These barriers are variable and change in every stage of life.
There's no greater joy for a parent than being able to send a child to college. Helping your children earn a higher degree sets them up for a more positive future, with greater chances of landing jobs and advancing in career fields.
There is no greater joy in the summer than taking a vacation. Travel solo or take the family with you; summer is the best time to bring everyone together on a whirlwind trip. However, taking a trip this summer vacation should not mean suffering financially for the rest of the year. Before you hit the road or fly the friendly skies, do your research so you can spend smarter, not just more, this year on your summer vacation.