You’ve got the great job, your salary keeps rising, and with it, so do your financial responsibilities. Most of your net worth is locked away in your 401k and a home. You need help to make sure you are making the right moves to secure your financial future, but Financial Advisors only want to talk if you have extra money to invest. Pathlight has a new way to help you. Let’s talk about how we can be your trusted guide along your path.
If you are still holding various forms of debt (student loans, credit cards, auto loans), examine the potential of debt consolidation to reduce monthly payments and interest costs. Once payments are reduced, continue to pay the original amount to knock down debt even faster.
If you have the ability begin to build liquid cash assets in a rainy-day fund. Assets like 401k balances and home equity are illiquid assets, which means you can’t access them if you need money now. You need to build flexibility into your financial life.
College costs continue to increase every year, so if kids are in your future, consider setting aside small amounts for a college fund before your first born comes.
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Simply making money doesn't mean you are securing your financial future. Most people spend too little time on their financial plan and live paycheck to paycheck. Make the right decisions today and reward yourself later in life.SEE INFOGRAPHIC