Michael T. Haas, a Senior Partner in Direct Invest USA Holdings, LLC., is an investment professional with years of experience. He has also built valuable financial security for himself and his loved ones through intelligent planning, which is in addition to the large sums of money that he has donated to causes he believes in.
If the financial security of someone like Michael T. Haas feels out of reach to you, it’s likely because you don’t have a plan. If used correctly, the following simple steps will help almost anyone as a basic financial security plan:
Save – Saving your money is one of the best things that you can do for your finances. Having a decent-sized savings can help you avoid debt, or it can be a fun goal for when you pay off existing debt. Make goals for your savings, like going on a vacation, to motivate you to put more into it. If you have a hard time saving, set up an automatic monthly transfer so that you don’t have to think about it.
Expect the Worst – Apart from your savings, you should have an emergency fund and basic insurance. Your emergency fund should contain enough to cover three months of living expenses.
Plan Your Retirement – Invest in a Roth IRA, a 401(k) or both. These accounts let you prepare to retire, and they’re vital because no one can work forever.
Remember that professionals like Michael T. Haas rarely reach the top without years of effort, many struggles and several revised plans. Financial security isn’t an overnight achievement, but if you keep trying, you can make it an assured one.