Long Term Financial (LTF) Strategy
LTF Strategy Course 101 :
Ask yourself below questions -
1. Do I have a structured LTF Strategy for my Finances?
2. Do I manage my LTF funds?
3. Can I manage LTF Funds with minimal knowledge?
- Yes, I have 401K or Kids College Fund or IRA or other invested assets
- No, never thought about this
- I don't care as I am young
- I pay SSN & Medicare which I am suppose to get back at my retirement age, Isn't that enough!!!
- Any other lame excuse
2. Do I manage my LTF funds?
- Yes, I know stuff and I actively manage it well (if you fall in this category then you may want to check out "Strategy" section...)
- Not really, just allocate funds to some Mutual Fund or Index Fund cause someone told me so
- Ummm, not sure how to do it as I do not understand, I just follow what others say or use the default choices
3. Can I manage LTF Funds with minimal knowledge?
- Yes, you can! You don't need to be a rocket scientist or have a finance degree to understand, all you need is a basic financial understanding with a simple technique described in this section.
Why do I need a Long Term Financial (LTF) Strategy?
- Secure your life savings from getting eroded by inflation and market financial crisis
- Secure retirement life (401K, Traditional IRA, etc.)
- Pass wealth to future generations (Roth IRA)
- Secure kids financial future (College Saving Funds - 529 Plan) or save for medical expenses (HSA)
- Most importantly use legal TAX shelters provided by uncle Sam to lower your taxes either in present or in future
Sounds Interesting!!!