Short Term Financial Goals

Improved Essays
From a perspective outlook, short, intermediate and long term financial goals can be achieved by setting tangible and realistic goals, following them, and tracking the progress is one of the main key to success in achieving ones’ financial goal. Prioritizing each personal financial goal in order of importance helps reveal how keeping track of a Daily Spending Diary or financial progress worksheet can have an impact on how to reduce debt reduction. Meanwhile, learning proper procedures and having a clear understanding on the coverage of different insurances enhance your choices. Making changes where necessary helps build financial funding toward a secure retirement.
The importance of a short term financial investment is to secure a financial future for
…show more content…
In addition to that insurance and the opportunity to purchase additional insurance is offered though the company. Again, not having adequate comprehension most people refuse to enroll in insurance all together. Sometimes changes have to be made in the type of insurances purchased, especially for people over the age of 50 because so many people have health issues and according to (Kapoor, Dlabay, & Hughes, 2010) “Certain types of insurance are overlooked in financial planning and people who suffer disabling injuries and diseases at age 50, may need disability insurance more than they need life insurance”( P.10). Sometimes, depending on the type of job you have most people do not enroll in the insurance programs offered at their jobs because financially they feel the premiums are too expensive. As an individual age, they fail to realize that age bring about change within the insurance policy as well. According to (Latsias, C.2015) “many factors such as rising premiums, medical expense, financial trouble, cash needs and changing cost of insurance may drive individuals to seek other insurance options or abandon their existing insurance policies altogether”. When

Related Documents

  • Improved Essays

    Big insurance, little things When people get to a certain point in their life, they begin to start families. A person who has a family will do anything to protect them and make them feel safe. This is where insurance comes into place. There are many insurance companies that make people want to spend their money at those companies.…

    • 621 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    By setting goals you determine what you want in life or money you want to save. By writing your goals down and reminding yourself of those goals they are more likely to be achieved. Writing goals down in different ways is also very useful in achieving your goals. By using vision boards you are able to look at the things you are wanting in the future. Using pictures out of magazine pictures of the things you are wishing to have creates and attracts good vibes of the laws of attraction.…

    • 1276 Words
    • 6 Pages
    Improved Essays
  • Decent Essays

    Hrm/531 Week 3

    • 222 Words
    • 1 Pages

    Both employees and employers place a great deal of significance on company sponsored health insurance benefits (Joseph J. 2012). Employees do care about their benefits. Benefits are a critical part of an employee compensation package, and health insurance benefits are the most important part. As work and family life absorb the bulk of an employee's attention and finances, having medical costs defrayed by a generous benefit package can…

    • 222 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    Being a part of a presidential committee to restructure the Affordable Care Act would not be enough to fix the problem. The Federal government has no Constitutional authority to be involved in health care. People will cite the "general welfare" clause as permission, however, unless there is a specific responsibility spelled out, it is left up to the States and/or to the People. With this being said, there are still many issues with the ACA that I would try to fix, despite my opposition to the involvement of the Federal government. Health care and other benefits of employment were mostly unheard until Franklin Roosevelt issued an executive order freezing wages sometime during the Depression.…

    • 1108 Words
    • 5 Pages
    Improved Essays
  • Decent Essays

    My goal has to be relevant by knowing why I want to reach the goals. Lastly is time, which is the date I want to accomplish my goals. REFLECTION 3 1. Obstacles • Financial problems •…

    • 509 Words
    • 3 Pages
    Decent Essays
  • Improved Essays

    Summary Of Naked Economics

    • 1004 Words
    • 5 Pages

    149) This chapter went into great detail about the four simple needs of financial market; raising capital, storing, protecting, and making profitable use of excess capital, insuring against risk and speculation. After reading this chapter, it is now clear that when I grow up, to reach these financial market need that I must take risks, save and invest repeatedly. I am happy that I read this chapter because it gave me some insight on how to follow my financial plan and to keep up with it when I become an adult. Chapter 8 really highlights that being small is not always a disadvantage.…

    • 1004 Words
    • 5 Pages
    Improved Essays
  • Great Essays

    State two long-term goals. For each long-term goal, develop three related short-term goals. For each short-term goal, identify three tasks that relate to the goal.…

    • 1179 Words
    • 5 Pages
    Great Essays
  • Improved Essays

    PPACA Analysis

    • 753 Words
    • 4 Pages

    As indicated by Gardner (2016) the cost of insurance should be decreasing for the individuals but this hasn’t happened. For instance, private insurance is expected to experience a 50% increase in premiums. In addition to an interesting pattern emerging of from the number of population that is within the risk pool. Due to the increased number of individuals who are enrolling with higher risk health conditions and less healthy young individuals are enrolling and opting to pay the fees. Due to these risk pools in 2013-2015 there were 22.8 million who gain coverage while 5.9 million lost coverage.…

    • 753 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Employers choose to self-insure because it allows them to save the profit margin that an insurance company adds to its premium for a fully-insured plan. Ideally Aetna would want everyone to be on fully-insured plans to maximize its profits. In fully-insured plans Aetna bears the actuarial/financial risk. In self-insured plans, employer pays Aetna a fixed administrative fees.…

    • 545 Words
    • 3 Pages
    Improved Essays
  • Decent Essays

    This is because majority of the insurance providers in the country prefer, or give favorable advantages to younger policy applicants such as…

    • 575 Words
    • 3 Pages
    Decent Essays
  • Decent Essays

    Squam Lakes Financial Advisors Twitter 7 1) Is your retirement a few days away to come about? A financial planning is what you need the most. http://www.squamlakesfinancial.com/retirement-planner/ 2) We at Squam Lakes Financial Advisors assure to dispel the scope of financial crunch. Contact us today for the right planning.…

    • 429 Words
    • 2 Pages
    Decent Essays
  • Improved Essays

    Finances are a sore subject for many people. At some point the realization that help is needed can often come too late or be overlooked. The desire to ask for financial assistance or guidance destroys a person’s sense of pride, however, the aftermath can be much more devastating. The book Financial Peace Revisited provided multiple point pertaining to finance changes, personal growth, economic realization, potential saving methods and so on. For starters, the first point Financial Peace Revisited identified is that all good things come to an end.…

    • 789 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Short Term Smart Goals

    • 523 Words
    • 3 Pages

    One short-term SMART goal that will help improve my leadership practice of delegating tasks would be to write and implement a new policy and procedure document for our team. This new policy and procedure documents will address our current payment processing procedures. The document will be implemented at the beginning of the academic quarter on April 1, 2017. To achieve this goal I will need to devote one hour each week for the next two months to outline, write the document, and gather feedback. I will also meet with our Compliance Director once each month to discuss the implementation and to make sure the policy will not violate or contradict any current compliance policies.…

    • 523 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Financial goals are targets and objectives that are usually motivated by a specific future financial need. Individuals typically set financial plans so that they are successful and not residing in poverty. If I were to be impoverished it would be very difficult to get out and be financially stable. Even though there are government programs to aid the poor, it’s very possible that I would be denied these programs. To not be in a situation in which I live in poverty and am dependent on government programs it is crucial for me to set financial goals and prepare for the future.…

    • 726 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    The future is extremely unpredictable and it is difficult to ascertain the kind of situations that we would have to face in the coming days and years. That is why, it becomes extremely important and vital to invest and save money in a strategic and proper manner. Some of the reasons why saving money is important are as follows: Emergency Funds: In order to tackle emergencies in a proper manner, you need to have a substantial amount of money that you have saved over a period of time.…

    • 791 Words
    • 4 Pages
    Improved Essays

Related Topics