Why financial planning is important in America

Financial planning

Financial planning is important in any part of the world, however, in America, some people think that it is even more so. America is without a doubt one of the richest countries in the world however with an increased political uncertainty with healthcare services such as Obama-Care being removed, financial planning should be made for the future so that you can take care of yourself and your family.

Putting away around 25% of your earnings each month is a sensible and achievable reality that I believe everyone should strive for. If you can afford to do this then great, I would even recommend looking into a high-interest bank account, however, most of these lock your money away for a numerous amount of years! I think the best way to truly save money is to have a bank account that locks your money away and one that is easily accessible. This means that you can have that money tucked away for the future whilst also having some set aside for a rainy day.

With health care in America looking like it’s only going to get more expensive it is becoming more and more important to financially plan your future for yourselves and your family! It’s a horrible thought but imagine if something happened to one of your family members and you weren’t able to pay for it because of extremely high medical bills. This is why financial planning is so important in America.

Financial planning is also important for your children’s future. School and College fees are on the rise and don’t pay for themselves! In order to be able to pay for your child’s access to a good education, you need to plan ahead and make sure you will have enough money to send them to College and get that degree that they deserve so that they can go on to be the best possible versions of their self! It would be a great shame if the only thing standing between your child and a great education was the fact that you hadn’t planned your finances correctly across a long period of time!

Financial planning can benefit you in so many different ways. It can take off stress and anxiety and allow you to book that well deserved holiday after a hard year’s work. So what are you waiting for? Start your financial planning today and secure your future!

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LDN Wealth is an independent registered financial advisor throughout the United States, LDN Wealth has partnered with top specialist international service providers to help UK Expatriates and US residents with their Pension Transfers and Financial Planning needs.