After over a decade of turmoil in the financial markets and the accompanying drop in the value of real estate, many women are finding that they are just not on track to reach their financial goals by the previously expected time frame.
If you see that your current investment plan falls short of where you want to be, brainstorm steps to get to where you want to be. The longer you have to enhance your financial plan, the better. There are so many options to increase your wealth, including:
- Creating a second income stream from a small business, while creating a legitimate tax deduction at the same time
- Shifting your career to a model that allows for higher fees and lower taxes
- Becoming more proactive on your investing to reach better returns
- Shifting assets from one objective to another, such as from income to appreciation
- Enhance your skills so that you can earn more from your career
If you could increase the amount you add to your investment accounts by 10 to 20% a year over time, the difference in 10 years would be huge.
You may also decide to spend more consciously now so that you have more in the future.
There are so many possibilities, but the time to consider them is now, not when it is too late to make a difference. Financial women deliberately plan their wealth accumulation to get to where they want to be!