FinancialFitness

Financial fitness is pretty self-explanatory. It means having the means to do what you want!

• In 2008 we watched the beginning of an uncertain time period in our financial markets. Retirement plans for millions of Americans dwindled. There’s nothing more frustrating than watching your savings vanish overnight, and worrying about how you’ll get it all back or save up again in time to do the things you want to do. Given the fact people are living longer and needing more money to cover their expenses through later years, it’s never been more important to get your finances under control.
• The average Baby Boomer has about $50,000 saved for retirement, which, even if well invested, won’t go very far if you live into your eighties or beyond. Dealing with finances can be daunting. It’s intimidating to face things like debt, lack of funds, and dreams of having more money but little idea about how to make that happen. The good news is there’s plenty of advice and strategies out there for every type of investor and financial condition. For some, there’s too much money and you want to get crafty with spending it wisely so you can benefit others as well.
• Financial fitness can be achieved regardless of income level and social status, and it also includes a broad spectrum of related subjects. In addition to general wealth dynamics, financial fitness entails plans to meet health care needs, and considering traditional estate planning tools to ensure your wishes are carried out and to protect those who survive you.
• Portrait of a financially fit individual:
  • Debt is well-managed if not obliterated
  • Investments are well allocated based on risk
  • Spending and savings plan in place attuned to income, expenses, and dreams
  • Emergency cushion for the unexpected
  • Insurance policies attuned to needs and certain risks
  • Estate planning addressed, including a living will and trust.

For more information on financially fit topics, see below.

Do you have something to contribute to FinancialFitness? Start a discussion in the Discussion Forum.

You may also want to view the other DreamFitness pages:

• PhysicalFitness
• EmotionalFitness
• SpiritualFitness