Look at your financial situation holistically

To achieve all your financial goals, you need to take a “holistic” approach, bringing in all the elements of yourself.

Think about your family. How much can you save for your children’s college education or help with a down payment on their first home?

Your personal beliefs also factor in your overall financial strategy. How much do you want to give to charities during your lifetime and in your estate plan?

When you retire, you’ll want to re-evaluate your purpose in life. Will you travel to broaden your horizons or stay close to home, volunteering your time in your community? The path you choose has financial implications, such as the amount of money you’ll need to withdraw from your retirement accounts.

Even your health is part of your financial outlook. If you ever need some type of expensive long-term care, you’ll need to plan for it.

Look at your situation holistically — when creating a lifetime financial strategy, every part of your life matters!