Are you planning for the future?
Sometime last month, I was having a conversation with one of my best friends about retirement, 401k, IRA accounts, saving in general and career options. Afterwards, I started to think, are we doing enough now to prepare for our future?
I get sudden little panic attacks when I think of this, haha. I’m 25 years old, with a mediocre job trying to figure out what I am passionate enough about to pursue into creating a career. Meanwhile debating on going back to school, while paying off all credit cards and student loan debt, oh and I also have to worry about having money for when I’m a grandma to survive while the economy declines? Yeah, a shit load of things to think of huh. Oh, let's not forget the idiocracy that we have to deal with on a daily basis.
So, in light of all of this, I decided to create a list for myself that you guys may like to also use for yourselves. A sort of check list to go by.
- Create a savings account. If you’re one of those people who do not believe in 401k’s or IRA’s, create a savings account that will accrue interest throughout the years. Set money aside even if it's $100 a month or $50 a month for your retirement or future plans in general.
- If you are unsure of what to do with your life (career wise), get into something. Anything. Take a course in something that interests you. You can try to make some extra income off a hobby, or start a blog. Just do something. Create something that is fully yours and that you have full control over. Eventually, along the way, you will find what you are meant to achieve.
- Clean. When I say clean, I mean clean. Your house, room, closet, car, whatever. Anything and everything. Get rid of what is old and try to think of long term things. Ask yourselves: Do I really need this? Will I ever wear this again? Do I really like this small table or am I just being a hoarder? Get rid of it. Sell it online. Throw the money into something useful that will benefit you in the long term. Or just simply give the item away.
- Take a look at your bills. Cut down as many of them as you can. Sometimes we pay for unnecessary things and we do not even notice we do not need them until we actually go through it. For example, if you have Kodi, you don’t need cable guys. Just the Wi-Fi. Saves you about $150 a month right there.
- Read books that will feed your mind. Pretty self-explanatory.
- Pay your school loans off. Or personal loans. I've found that if you make a second payment a month after the initial payment, you will see your loans go down a lot more because you’re paying the loan instead of just the interest. This also applies to credit cards.
- If you have a mediocre job, look for something higher paying. It’s pretty tough now finding a new job, but search and apply anyway. It never hurts to send your resume to a few places.
- Travel. Sometimes the best knowledge will be gained on a trip, an experience or an adventure. Go somewhere new. When you’re old, one of the most valuable things will be your memories. What you do today will be a part of who you are in the future.
What else do you guys think is important to do now for the future?