How frugal have you become since the 2008 financial crisis? After getting over the fact that the crash of 2002 could never happen again, what changes have you made in your life style?
Fidelty Investments did a survey and reported in USA Today. Positive behaviors that appear to be now entrenched include saving more in tax-deferred retirement accounts, paying down debt and taking greater care to invest wisely. After the elections, the fiscal cliff, QE1, QE2, QE3, sequestering, and health care reform, are you back to your old spending habits or have you made a larger emergency fund, paid more into your retirement savings, lived well within your means?
You can control how much you spend.
You can control how much you save and where you save it. Is it best to save your money in IRA type accounts that are under the control of the government? Or is it better to save in tax deferred annuity that you control-few limits or restrictions.
The Millionaire Next Door by Stanley Danke is an excellent guide to changing financial behavior. We have all read about the cleaning lady who left quantities of money to an heir or the person with a stash of gold in the garage. We should adopt those same behaviors and become more confident about our futures. We know the new economic policies will affect us so why not become proactive and take control of our finances.
If you would like to go over your retirement assets, I would be happy to review them with you and see if you can better your savings. Never a fee. No asset too small.