With Donna Rosato, Senior Writer at Money Magazine
As we go through our adult lives, it’s important to periodically check our vital signs, for both our physical and our financial health. Donna Rosato, a senior writer at Money Magazine, has the protocol for making certain that all aspects of our money life are monitored on a regular basis, thereby ensuring that we’re prepared for retirement and also for encountering those inevitable emergency situations.
Donna’s recommended checklist for assessing your financial well-being includes keeping tabs on your credit score, regularly contributing to a retirement fund, and maintaining an emergency fund of about six months of living expenses for any of life’s surprises.
Even though people are feeling more secure in the job market today, it’s important to be constantly on guard for potential pitfalls. For example, if you live in an area that depends on the status of one industry and that industry fails, the value in your home could be affected. Donna advises assessing risks along the way and making financial adjustments accordingly.
Setting goals and making a plan to achieve those goals, whether it be a trip to Bali or paying off a student loan, is a strong motivator for success. And following through is much easier with either a visual reminder such as a picture board in your workspace or utilizing one of the tech tools which hit you with a reminder notice that it’s time to contribute to that fund—and then you have the pleasure of watching the dream incrementally materialize.
Disclosure: The opinions expressed are those of the interviewee and not necessarily United Capital. Interviewee is not a representative of United Capital. Investing involves risk and investors should carefully consider their own investment objectives and never rely on any single chart, graph or marketing piece to make decisions. Content provided is intended for informational purposes only, is not a recommendation to buy or sell any securities, and should not be considered tax, legal, investment advice. Please contact your tax, legal, financial professional with questions about your specific needs and circumstances. The information contained herein was obtained from sources believed to be reliable, however their accuracy and completeness cannot be guaranteed. All data are driven from publicly available information and has not been independently verified by United Capital.