Advice For Life | Atlanta's Financial Planning Blog

Sometimes You Should Retreat Before Pressing On

Wednesday, February 01, 2017 Bookmark and Share

Before modern military tactics were developed, it was common for the General to move to an elevated position to observe the battle. Typically, soldiers fighting face-to-face with their enemy were so focused on survival that they lacked perspective on whether they were winning or losing until the battle was over. The General’s view, however, prompted adjustments to increase the likelihood of victory.  

Prince, Pauper or In-Between: How Long Can You Live On Your Savings?

Thursday, February 19, 2015 Bookmark and Share

If you lost your job, could you cover your bills?

When consumers were asked that question in a survey this year by RetailMeNot, the discount coupon site, nearly half (48%) confessed that their savings would last for just one month.

At the other extreme, those with an emergency fund (52%) estimated it would tide them over for eight months without any additional income. The root of this great savings divide may be simple: Many people just don’t know how to save. And, almost half (49%) of the surveyed consumers lacked confidence in their understanding of their personal finances.

But learning how to save isn’t difficult.

“I started very young with my kids—about 10 or 12—teaching them the value of saving money now to prepare for their future goals,” says Michael, a physician at the University of South Florida. He’s used his financial knowledge to advise healthcare organizations, as well as his family, in the importance of saving. “You don’t have to be rich to save,” says Michael, noting that anyone with an income can stash away a substantial cushion—if they follow some common-sense advice.  

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