Make a Life-Changing New Year’s Resolution in 2024

Most people don’t keep their New Year’s resolutions. There are a lot of reasons for those challenges. For some people, those resolutions were unrealistic to begin with. Others struggle with self-doubt that prevents them from meeting their goals. Still others lack accountability or planning, two of the key elements in achieving goals and smashing resolutions. Despite those challenges, however, the arrival of the new year is a great time to look forward and consider initiatives and changes that can alter the course of your life.

One Resolution Everyone Should Consider

As you’re taking a look at your plans for 2024 and evaluating what resolutions should guide you through the coming year, there’s one resolution everyone should consider. Your top resolution? Make steps to secure the retirement you deserve.

The Importance of Securing Your Retirement

Your retirement years have the opportunity to be your golden years. However, solid planning is critical to ensuring that you can make the most of those years–and, in fact, that you can eventually retire! Retirement can last for 30 years or more, and you may need as much as 80% of your current income available for those years in order to allow you to live comfortably and maintain your quality of life. Planning for your retirement years can offer a number of essential advantages.

  • Appropriate financial planning can substantially decrease stress during your retirement years. That decreased stress can, in turn, lead to better quality of life.
  • With a big-picture look at your finances, you can improve your ability to make career and financial decisions from much earlier in your life, which can help lead to better financial planning in the future
  • You won’t have to worry about being a burden on your children in the future
  • Your retirement planning can help decrease your tax burden in the present, allowing you to make the most of your available money

While State Benefits offer a buffer that can improve financial outcomes, that doesn’t mean that it will provide enough to maintain your quality of life through your retirement years. With effective financial planning now, on the other hand, you can secure your quality of life when it matters. Starting your retirement planning early also means that forced early retirement for any reason is much less daunting.

How FH Manning Can Help

If you’re ready to improve your finances and focus on a New Year’s resolution that has the potential to transform your future, FH Manning can deliver. FH Manning has recently launched a scorecard that will help you determine what you still need to do in order to achieve your retirement goals–including your goal of retiring early. This scorecard can provide you with valuable and personalised insights, including:

  • Your Financial Preparedness for Retirement
  • Your gauge of the Emotional & Lifestyle Aspects of Retirement
  • Your General Knowledge and Perception in relation to retirement readiness

With these insights, you’ll find that you’re better prepared, not just for 2024, but for your financial future. Thanks to FH Manning’s scorecard and retirement planning tools, you can better evaluate your ongoing financial needs and determine how close you are to meeting your retirement goals.

If You’re Choosing One Resolution to Keep in 2024, Make It This One

There are probably any number of possible resolutions on your list for 2024, from weight loss resolutions to resolutions about healthier eating, starting a new hobby, or even reading more books. If you’re going to keep just one resolution this year, however, make it this one! Planning for your financial future won’t just make the new year brighter. It will help set you up for success for years to come.

Early Retirement Planning Increases Financial Gains Over Time

When you start your retirement planning early, it can significantly increase the funds you have available when you’re ready to retire. Not only does contributing early mean more contributions over time, as interest compounds over time, the dollars you contribute to your retirement fund early in life will grow more than the funds you contribute in later years. By starting your retirement planning this year, you may find that you’re much better prepared to enjoy the benefits of that retirement plan than you would be if you waited until later.

Secure Your Financial Future and Decrease Overall Stress

Your retirement years should be peaceful, with fewer worries and more time to focus on the things you love. Unfortunately, when you fail to secure your finances, you may find that those years are much more stressful than anticipated. By committing to your financial planning now, you can substantially decrease your stress as you near your retirement years.

Consistency Improves Your Results

Setting aside money now, when you’re first planning to improve your retirement savings, can make a big difference in your retirement efforts. However, as with any resolution, it’s consistency that is really key to improving your results and helping you see the payout you’re hoping for when it matters–in this case, in your retirement years. If your resolution was to lose weight, you wouldn’t assume that dieting for a few days would be enough to make that critical difference. Likewise, an inconsistent approach to your retirement may mean that you retire later than planned, or that you cannot maintain the quality of life you may have hoped for during those essential years.

There are any number of resolutions that could demand your time and attention in 2024 and beyond. Luckily, retirement planning and a commitment to contributing toward your retirement will ultimately take less time than many of those resolutions–and yield much better results.

Every Resolution Starts with the First Step

The first piece of any resolution is taking that first step. Are you ready to get started toward not only making a better 2024, but securing your financial future? Fill in your scorecard, then contact Claire Markham ASAP via email at clm@fhmanning.co.uk to discuss your retirement plans and your other financial needs.

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