AD | Partnership
Talking about the future will either come really easy to you or quite simply scare you. Some people are just so sure of where life is going to lead them that they have a plan in place. But for many people, that just isn’t the case. It is all well and good living in the present moment, but sometimes you need to take a moment to think about your future self and where you want to be.
You might also need to think about protecting yourself for the future and there are a lot of considerations to make. So maybe it is time to get serious and think about your future, plan for it, and put things in place. I wanted to share with you some of the things that you might want to consider to help you do that.
What might happen when we are no longer around
The truth is, this is a consideration that many of us won’t want to be thinking about, but we are all aware that life is short. So you do need to think about this at some point and put things in place. The first thing you could consider is life insurance. This is a protection that will give you peace of mind that things like your mortgage will be taken care of when you are not around. You can get life insurance without a medical exam and it can give you such peace of mind when it is done and in place. It’s not guaranteed you’ll qualify for a no medical exam but it’s likely!
You should also consider things like getting a will in place and a long-term plan for assets. As you get older you might want to have a plan for your care in the future, or you might downsize or move into assisted living. Knowing what you will want will help you plan, finance, and feel comforted that decisions have been made.
Our hopes and dreams
Have you thought about what you want for yourself in the future recently? Do you plan on getting married and having a family of your own? Or perhaps be living in a different country or have travelled in some way? These are all things to start thinking about, and actually, it’s quite an exciting thing to do.
Having hopes and dreams for the future allows you to set yourself goals on how you are going to achieve them. A great tip is to make a note of them somewhere, and regularly remind yourself of where you hope to be one day.
Your career can either be a subject you love to think about or it might be just a job that pays the bills. It all depends on how things are going for you right now. But your career is what will take you places in the future, even if it is just a means to an end to earning an income to live.
So sometimes it’s worth looking at your career path and seeing where you want it to take you. Does it mean training for a new job entirely? Or does it mean progressing from where you are now and moving up the ladder? Spend some time thinking about this as a lot of the time, actions will need to be taken now to get you there.
The finance side of things
Money is one of those hard subjects, but it’s important we know where we want to be in the future and our finances and the decisions we make now can all help towards it. This is when it’s worth considering what savings you have or start saving any small amount you can.
You may be wondering how much money to save and how to do it. But research online or even speaking to your bank will be able to highlight a simple instant access regular saver, which is a great place to start. Over time, those small amounts will really mount up.
What can you do right now to plan for the future?
There are a lot of things that you can do right now that will make a difference in your future. Some of the above suggestions are all about putting things in place or thinking about goals, but there are things you can actually start doing now that will make a big difference to your future. Here are some of the things to consider:
- Clear down debts – Debt is something that many of us have. Whether it is a credit card debt, a mortgage, or overdrafts, work hard now to try and pay them off. Small overpayments on mortgage payments can help you save interest in the future. Just check your mortgage terms to see if you can do it. Overpayments on minimum payments for debts like credit cards can also help to save you money. It means that once the debts are gone you can focus on savings.
- Protect yourself – Think about insurance policies. Life insurance, critical illness covers, and insurance for your home can help to give you protection for the future.
- Save a little – Small weekly amounts can all add up when put into a savings account. It is a great way to help
- Discuss things with your family – This means speaking to your partner, wife, or husband. Your children and even parents if needed. It helps to ensure that everyone knows what your plans are for the future.
- Create a budget – Make sure you create a budget for your finances. This helps to see what situation you are in, and then you can make changes and save where possible.
I hope this helps you consider your plans for the future.