Financial Habits of Very Successful People

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

In a recent blog post, we discussed six characteristics that people who are debt-free tend to have in common. Today, we'd like to build upon that and get into some of the financial habits that people who are very successful tend to have. Let's take a look:

They save.
And when we say they save, we don't mean they just save a few dollars each month - rather, they save more than 10% of their paychecks. And in addition to saving for future milestones such as retirement, these people are also focused on saving for emergencies and other situations that require extra money to be spent so that they never feel like they're struggling.

They set it and check it, not forget it.
Automatic bill pay and banking can be very useful, and successful people realize how much easier it can make many financial processes. However, rather than just setting up automatic payments and money transfers and forgetting about it, they continue to check in regularly to make sure they know exactly where they stand financially. Having a strong sense of awareness about your finances is key!

They focus on giving.
What goes around, comes around, right? While some may say that being a go-getter is the best way to receive a financial benefit, very successful people have said that being a "go-giver" also produces great results. That said, these people will often look for ways that they can go the extra mile (and not just with money, but perhaps also with time, etc), as giving generously has proven to bring them positive results - the more you give, the more you get back.

Let's go back to point number one for just a moment - very successful people understand the importance of saving, and they're good at it! One of the best things you can do for yourself in order to experience success not just now, but also in the future, is to be ready and willing to save. Even if that means the amount you take home is a bit lower every month, what's important here is that you are preparing yourself to live comfortably several years from now, such as when you retire and no longer receive a paycheck.

If you want to set yourself up for financial success, set up an appointment with one of our financial advisors. The team here at American Investment Planners LLC has all of the tools and resources needed to help you meet your short and long-term financial goals, and we would love to develop a strategy with you.

To set up a meeting, please give us a call at (516) 932-5130 or email info@americaninvestmentplanners.com today.