Last week I went to Orlando for a fun, educational, and motivational gathering of 2000 money nerds. FinCon is a Financial Bloggers Conference where Media and Money meet. It was amazing! There were podcasters, money coaches (like me), financial bloggers, and so many other financial professionals present. Even though I went last year, it felt like this year was my own personal life changing moment.
Here’s why you care… With all the new partnerships that were created I will be able to bring you more services that can dramatically change the way you manage and spend your money. All of this will make it much easier for you to get out of debt, save for your future, and ultimately live the life you truly love.
For 13 years now, I have spent most of my time coaching clients about budget and debt elimination strategies. But, I don’t want you to get out of debt just for the sake of doing so. No one cares that you got free of payments. The reason debt elimination is so important is because your future is at stake.
Jean Chatzky, Financial Editor of NBC TODAY, was one of the big idea speakers on the main stage at FinCon. That’s her in the photo. She pointed out why getting out of debt must be at the top of your list of priorities:
There will be 4 million people over the age of 100 in 2050. In 2015 there were only one million. The older population is growing by 17%. That means one day YOU will be old!
Simply put, we are living longer, and we need money to take care of ourselves for that long. Social security will not cover all your needs. Your kids are awesome, but they don’t want you sleeping in their guest bedroom for the rest of your life. And travel is so much more fun when you don’t have the debt bills following you home. You need money and lots of it. If you are making payments on debt every month then your ability to save for the amazing future you desire diminishes greatly.
Jean Chatzky also mentioned a study by Fidelity Investments which makes it clear that you need 10 times your salary in retirement assets by the time you decide to stop earning money. In order to stay on track, you need:
1X your salary saved by age 30.
3X your salary saved by age 40.
6X your salary saved by age 60.
This might sound like a tall order. But think about what you could do if debt payments weren’t holding you down. Consider the life you want now and in the future. Do you have the funds needed to enjoy that life without the fear of not having enough?
If you want to finally get on a plan and get free of payments, then reach out to me. I’m happy to chat about your options and how I can help you. Set up a time on my calendar to chat.