It starts with that uneasy feeling in the back of your mind that not everything is perfect. Then, you start feeling uneasy or anxious any time you see that bank statement, credit card statement, or your latest 401k or investment account update.
In almost every situation, people will typically wait too long in order to take action, and by the time they finally do, it is because the problem has become as big as it has. Whether you are wealthy or poor, financial anxiety is a real issue, and in most cases by the time you get together with a professional to seek help with your issues, or if you are tackling it yourself, it would be far better if you did it earlier, before it has gotten as bad as it has.
To give you a few examples, wealthy investors will not seek tax planning advice before making the investments, but will eventually panic after they get their tax documents and realize how much they will be overpaying.
People who struggle with debt will typically let their problems become worse by either ignoring their statements, ending up paying the massive default rates and late payment fees rather than come up with a plan for their debt.
Finally, the one thing that will affect the majority of Americans is the lack of preparedness for retirement. Rather than making smaller changes with years before retirement, those people keep telling themselves they have plenty of time all the way until before their retirement date. By the time they meet with their retirement advisor, there is very little they would be able to do besides telling you to either reduce your retirement goals or work longer.
YES, it takes inner courage to face yourself in the mirror and to take the first step, but overcoming that fear is well worth saving yourself from far worse problems in the future.
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