GETTING YOUR FINANCIAL HOUSE IN ORDER
~ Advice from Certified
Financial Planners on How President Obama’s State of
the Union Proposals Could Impact People’s Pocketbook
~
January 2012
(Washington, D.C.) – For sheer
investment chaos, 2011 would be hard to beat. Markets
soaring every time European ministers seemed to be getting
along, markets plummeting with each political standoff,
both here and abroad. When market irrationality prevails,
what is the consumer to do? For many consumers, this
uncertain economy has left them wondering how to manage
their finances.
During tough economic times,
a collective freak-out happens, so it's a good idea
to turn off the TV and look through the short-term to
long-term objectives. Stick to objective advice and
planning as a way to keep emotions in check.
A day after President Obama
delivered his State of the Union address, the national
Consumer Advocate for the Certified Financial Planner
Board of Standards and local Certified Financial Planners
answered questions about how his proposals may impact
personal finances, what people need to know moving forward
in this economy, and other current issues surrounding
consumers and their finances.
Certified Financial Planners
recommend getting your own personal house in order by
using a 12 for 2012 approach to personal finance. This
program of twelve steps for a yearlong journey to financial
confidence. All of these steps are necessary and connected
to one another, in order to get your finances in shape.
Some of the steps include:
-
Establish realistic goals, short and long term;
-
Establishing priorities and understanding basic
financial concepts;
-
Building a balance sheet and budget;
-
Planning for retirement;
-
Tax planning; and
-
Deciding if you need help.
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