By Aida Mounkes

For many, the options that are available in financial planning are simply overwhelming. There is a reason that you will hear some people say, “In our house, my wife handles all of the money.” Or in other cases, “I let my Dad do all of that for me.” There are so many different options out there, however, what happens when you chose to focus on just a few for you? Let’s explore that option.

Being in the retirement business, I have noticed that people don’t plan for retirements early enough. Not because they are young and don’t have to. It is because they are overwhelmed by the myriad of options available. In talking with a number of young people, I have actually been asked, “Can’t you just tell me what to do?”

I have been doing this a long time and I can honestly say, if anyone in the professional arena tells you what to do, don’t follow it without doing your own research. There are a lot of options, but you can’t expect for anyone else to think like you do. Therefore, the decisions that they will make may or may not suit your personal financial goals. Why would you want that?

It is important to focus on the financial options that you like for your own money. There are your decisions. For many, using only savings accounts is the only option they want to use. It is safe, and low risk. These are very true. However, there are many other options that people use. Long term investing where your account can grow by 12% to 20% per year, is something that appeals to many. Long term investing requires you to put your money in and forget about. Leave it there to grow. Short Term investing is also an option. Short term targets stocks from the stock market when they are likely to move up due to good news, gaining contracts, or having great earnings quarterly or yearly. There are many options available.

The trick is to use the options that you find have the most to offer you. If you are the type of person, where you want to put your money in the fund and forget about it until later, you may want to look into long term investing. If you are the type of person, that likes to look at the market and make decisions on the money daily or weekly, short investing would be better for you. Focusing on just a few things and working that plan will produce long term results.

In working your own plan, you will find that you have more confidence in talking about what it is that you are doing. You may want to try other things later on when you have mastered the few things you focus on now. The important thing is that you are making the decisions over your finances.

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