A word of warning: getting your financial house in order takes far more time than you expect.
That doesn’t mean you should avoid it.
While everyone wants to put a dollar value on their time, the benefits of understanding these numbers will outweigh any dollar value you might lose by accurately understanding your true worth.
Moving your investments around so they’re in the right vehicles, invested in the right funds with low fees will provide you comfort knowing you secured future income.
If you’re not trying to beat the market, then all of this can be done in very basic index funds, saving you some time.
Having conversations with your spouse about your future goals and desires will make sure that all the money you’re accounting for gets utilized in the right way.
You may both have different goals in mind, but by talking you can plan for both, instead of brooding about your spouse’s spending habits.
Knowing what you need to save for your children will ease the burden of the high price of raising kids, as you plan for predictable expenses – like college and cars – today.
Using a simple 529 plan will provide you with a tax-free way to save for college, reducing the expense when they head out of the house.
Seeing the fruits of all these moves, however, won’t be instantaneous. Instead, they slowly show their worth, as the days pass, your income builds, your investments gain, and your spending stabilizes.
Eventually, though, you will think back and say “that time was worth it.”