Car Buying
College Planning
Computer Safety
Discount Health Plans
Final Expense Insurance
Consumer Tips
Home Buying
Home Insurance
Identity Theft
Prescriptions
Shopping
Travel
Getting Started
Debt Roll-Up
Credit Reports
Credit Scores
Credit Repair
Growing Wealth
Time Value of Money
Controlling Risk
Tax Planning
A Balanced Plan
Enlisted Pay
Officer Pay
Finding a Job
Relief Act
Thrift Savings Plan
VA Education
VA Home Loans
VA Health Care
VA Pension Benefits
VGLIGrowing Wealth
Constructing Your Plan
You've set your goals, made your budget, and started the debt roll-up strategy. Now it's time to formalize your financial plan. Each goal may require a different financial vehicle to help you to achieve it. The vehicles may vary greatly depending upon whether the goal is long or short term. Money for short term needs should be kept in low risk, highly liquid accounts. To help understand the basics of various investments, these are some of the concepts with which you should become familiar:
- The Time Value of Money
- Rule of 72
- Controlling Risk
- Tax Considerations
- Putting It All Together
Your Financial Plan
- Your financial plan must be comprehensive and cover a variety of areas, such as:
- Investing
- Buying a home
- Risk management (insurance)
- College expenses
- Taxes
- Saving for retirement
- Estate planning
- Once you've laid out your plan and the vehicles to fund your goals, try to put as much of the implementation as possible on auto-pilot. This means using payroll deductions, pay allotments, or automatic payments from your checking account.
