As we continue into the year, I hope you have been working hard toward your New Year’s resolutions to eat healthier and be more physically fit. The same sentiment goes for another common resolution — to become financially fit.
Eating healthier or becoming physically fit is often associated with numbers — how many calories to consume, how many hours of exercise and even how many hours to rest. When you make a resolution to improve your financial fitness, do you know what numbers to aim for?
As a Certified Financial Planner™ focused on helping people start and stay on their path to financial fitness, here are some common measures of financial security to keep you moving in the right direction:
Just as there are good habits associated with staying physically fit, there are best practices involved with keeping financially fit. Simple strategies such as using debt wisely, contributing to tax-advantage investment vehicles and monitoring spending habits all go a long way toward helping you achieve your financial goals.
By Kristen Fricks-Roman CFP®, CRPS®, senior vice president of Morgan Stanley Wealth Management, Atlanta
Kristen Fricks-Roman is a Financial Advisor with the Global Wealth Management Division of Morgan Stanley in Atlanta. The information contained in this article is not a solicitation to purchase or sell investments. Any information presented is general in nature and not intended to provide individually tailored investment advice. The strategies and/or investments referenced may not be suitable for all investors as the appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. Investing involves risks and there is always the potential of losing money when you invest. The views expressed herein are those of the author and may not necessarily reflect the views of Morgan Stanley Wealth Management, or its affiliates. Please be advised by clicking on a third party URL or hyperlink, you will leave morganstanley.com. Morgan Stanley Smith Barney LLC is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the web site. Morgan Stanley is not responsible for the information contained on the third party web site or your use of or inability to use such site. Nor do we guarantee their accuracy and completeness.
Morgan Stanley Smith Barney, LLC, member SIPC.
Photo by Kazoka | Shutterstock
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