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
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