Again, I found an interesting article when surfing Ric Edelman’s site. It’s simple but hit the points. He talks about why we need planning. Why do you think we need? We won’t know what would happen next year, next month, or even next second (to make it extreme). So far we have been taught of the importance, but I even don’t know what to say when being asked.
Well, I read his article thoroughly and get inspiring answers. At least I can now say out loud. The reasons why I need planning are among these: to protect myself and my family against financial risk, to eliminate debt, because I’m going to live long, to afford the costs of raising my children, to pay for my future children’s college, to pay for a daughter’s wedding, to buy a car, to buy a home, to be able to retire and still spend the amount I want, to pay the cost of long-term care, and finally, to pass my wealth to next generation. Too many, aren’t they? Just more than enough to make me realize the importance of setting plans soon.
Read the article.