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  • Writer's pictureFM Financial

PLANNING - The Early Bird Gets the Worm

When spring and summer finally arrive at our Michigan office, we are grateful to once again see flowers blooming and birds returning from their winter homes. You’ve likely heard this proverb before: “the early bird gets the worm”. This also applies to financial planning. There is a definite advantage for people who are intentional about their finances early on. Just the simple value of more time for compounding interest to work is profound! As interest is accrued over time, it grows exponentially – but TIME is a major contributing factor!


Spring took a bit longer to arrive this year than it has in prior years. In the same way, life never seems to go quite the way we anticipate. When circumstances change and affect financial goals, there are a few options available to alter potential outcomes: income, expenses, savings, and time. Let’s take retirement, for example. If a woman needs more money in retirement, she has a few options: save more before she retires, spend less in retirement, invest more aggressively, or work longer. If she has identified this issue before she gets too close to retirement, she could increase her savings incrementally over time, or maybe plan to pay off debt before her retirement date approaches. This could save her from needing to delay her retirement. The best options are available to those who plan ahead!

There’s no time like the present - reach out to FMF to begin the conversation!




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