Do you have a summer vacation coming up? How much time will you spend planning that trip or excursion? According to surveys over the past five years, Americans spend more time planning for travel than they do planning for retirement.
We tend to focus on what’s coming up sooner rather than events in the future. But there is more to it than that. A study done at Princeton’s Center for the Study of Brain reveals that two different areas of the brain compete when a person is faced with immediate rewards or long-term goals. Based on images of the brain during such decisions there was activity in different parts of the brain when participants made these choices.
For many of us, retirement is a far-off event and we might be putting money away on a regular basis through investments, but have a “set-and-forget” mindset about it. Travel plans, on the other hand, are in the immediate future so we naturally focus on them more frequently and allot more time for those plans. The same holds true for other big purchases such as a new home or car which are more immediate . Again the investment is short-term and thus seems to be more important.
You might contact a travel advisor to plan your next trip, so doesn’t it make sense to contact a Certified Financial Planner (CFP) to help you with your investment plans? When we think of the priority of retirement and savings these are important but distant. Help is available.
Ask Les Merritt for help to create a customized plan to fit your needs. Families and businesses have been coming to Les for more than three decades. As a CPA (Certified Public Accountant) and a CFP, he is in a unique position to advise you and your family. He can construct the right financial plan that will fit your economic circumstances. Mid-summer is a great time to review where you are and make plans for the rest of the year. Call (919) 269-8553 today to set an appointment. Get set for retirement with a financial plan or review your current one today.