Preparing for retirement and estate planning often includes responsible investments in financial markets, with a portfolio balanced to fit your preferences for risk vs.
Managing a budget and saving money may be the start of your financial journey, but a well-rounded personal finance strategy typically includes other elements.Īchieving long-term goals such as buying a house or starting a business may require making informed decisions about taking on (and repaying) debt through a mortgage or loans. An understanding of personal finance is important to building long-term wealth, and it is especially important for young adults because the benefits of good financial habits accrue over time. Personal finance includes all the actions taken by an individual or family to manage money in the present while making financial plans for the future.
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