10 ACTIONS TO ACHIEVE FINANCIAL SECURITY

Having financial security means different things to each of us. For some, it could mean knowing you can choose the best care option for your family without worrying about compromising anything else. For others, it might mean sleeping better at night because you've saved enough in emergency funds to handle any unexpected home repairs. Or it could be as simple as building an "F*** You" account so you can walk away from a job that doesn’t appreciate you and find one that does. And for most of us, it simply means knowing that, no matter what happens to me, my loved ones will be well taken care of.

It takes preparation to get there! Below are ten suggestions to get started.

1. Establish Key Legal Documents

Complete a Will, Living Will, and designate Power of Attorney to protect your assets and ensure your wishes are followed.

2. Assign Beneficiaries to Key Accounts

Designate beneficiaries for retirement accounts, annuity contracts, life insurance, and brokerage accounts to streamline asset transfer.

3. Maximize Employer Retirement Contributions

Contribute to a 401(k) (or similar employer-sponsored plan) to take full advantage of any employer matching.

4. Build an Emergency Fund

Maintain 3 to 6 months' living expenses in a readily accessible account to cover unforeseen costs.

5. Utilize a Health Savings Account (HSA)

If you have a high-deductible health plan (HDHP), contribute to an HSA and consider investing those funds to maximize tax benefits.

6. Invest in a Roth IRA (or Roth 401k)

Open and contribute to a Roth IRA (or Roth 401k) while your income is below the AGI limit to lock in tax-free growth.

7. Spend Less Than You Earn

Practicing disciplined spending will pay dividends over time—your future self will thank you.

8. Invest Early and Harness Compound Growth

Start investing as soon as possible. Remember the Rule of 72: an investment growing at 10% per year on average will double in approximately 7.2 years (72 ÷ 10).

9. Secure Life Insurance for Asset Protection

Protect your loved ones and your assets by securing appropriate life insurance coverage.

10. Partner with a Financial Planner

Work with a financial planner to set clear goals, optimize your wealth strategy, and build a sustainable financial future.