Health and Wealth: Beginning your Journey
- November 21, 2024
Establishing good financial behaviors and implementing a structured routine early on will help you on your path to financial security.
Steps to take at the start of your journey:
Set Financial Goals:
Establishing both short and long-term goals will help set the pace for future planning. Consider the following:
- What do you hope to accomplish in the next 5, 10 or 20 years?
- What hurdles stand in the way of you achieving those goals?
- Is the pace you set for yourself achievable?
Create a Budget:
When creating a budget, consider your current income and expenditures along with any outstanding debt you may have. Reserving a portion of your income towards an emergency fund will ensure that you are prepared for any unforeseen expenses.
Establish a Savings Account:
Establishing a savings account early on will provide you with the financial leverage to afford future purchases such as a car or home.
Protect Your Income:
Just as you would insure your car or home, insuring your income will provide you with added security that if an unforeseen accident or illness occurs, your current budget and emergency fund will not be disrupted, leaving you with the confidence that your financial goals will stay on track.
Beginning this journey with a structured routine in place will ensure you are on a course towards a secured financial future.
Sources & Disclosure
The information contained herein is general in nature, has been obtained from various sources believed to be reliable and is subject to changes in the Internal Revenue Code, as well as other areas of law. This material is for informational purposes only and should not be construed as a solicitation of any particular insurance product or insurance carrier. Insurance is sold through Oppenheimer Life Agency, Ltd. (OLA), an indirect wholly owned subsidiary of Oppenheimer Holdings. Before purchasing a policy of insurance, please review both the insurance carrier and the insurance policy carefully before investing. A strategic alliance exists between OLA and various outside providers whereby products and services may be utilized. Such providers may receive compensation as a result of the strategic alliance. However, the firms are completely independent of each other. This material is not a recommendation as defined in Regulation Best Interest adopted by the Securities and Exchange Commission. It is provided to you after you have received Form CRS, Regulation Best Interest disclosure and other materials. Oppenheimer & Co. Inc. Transacts Business on all Principal Exchanges and Member SIPC. 3827401.1