There is so much hype out there encouraging people to develop a budget. All the personal finance Gurus preach about budgets, say you can’t live without one, and teach you how to set up one. BUT, what happens after you sit down and create one?

The focus has always been on allocating your monthly pay into various expense categories and giving every dollar a name or a job to do.

So, every category is assigned it’s designated amount, all the money is allocated, life is perfect and you have a plan….but do you really?

What happens beyond the budget? There is a second step that most people aren’t taught and in my opinion is the most crucial. Life is made up of milestones, life events, goals, and change.

A budget is not a static plan. It evolves, grows and develops over time, so it should be used as a tool to develop a greater plan for your ever-changing future.

If we don’t look forward and calculate life events and change that WILL occur, then the budget within itself is useless. Tracking progress is so important when developing your long-term goals. Most people do not accurately calculate their retirement needs and fall short when that magic day arrives. Many will continue to work into their retirement years because they did not understand what their retirement quotient really is.

What will your retirement portfolio look like as you approach that day of freedom from needing to work? If you are unsure, I can help you devise a rock solid plan.