The Key to Securing Your Financial Future? A Comprehensive Financial Plan

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2022-05
Authors
Anderson, Sarah
Major Professor
Fox, Jonathan
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Bartholomae, Suzanne
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In these unprecedent times where even there are even more unknown, it just proves how important it is to be financially prepared for what life decides to throw at us next. It is already very difficult to navigate and understand everything that goes into guaranteeing financial security in retirement. In this stage of life there is usually not much you can do if you come up short and don’t reach your financial goals. One of the most shocking statistics is the percentage of people who think they are adequately financially prepared for retirement versus if they are actually prepared to retire. I believe one of the best quotes regarding finance and retirement came from my mother, she said “You can borrow for almost everything in life: education, housing, transportation, but the one thing you cannot borrow for is retirement. Once you deplete your retirement savings, there isn't much you can do to help that situation”. Therefore, it was so important that the Gates family begin their financial plan at a young age. Trevor and Linda want to have a plan set in place so that they can live comfortably in retirement.
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2022