LOS ANGELES, CA / MARCH 2, 2022 / Nils Larsen manager has more than 20 years of experience as a financial portfolio expert. His job is to help clients create financial goals and achieve or exceed them. Larsen recently offered his top tips for staying on track with financial goals.
“Achieving financial goals looks different for everyone,” Manager Larsen said. “My job is to make reaching those goals easier, whether my client is looking to pay down college debt, finance a home, or plan for retirement.”
Establish the Desire
Larsen explained that the first step in accomplishing goals is to create realistic ones. The aspiration needs to be as specific as possible. It should also be attainable.
“There is no way for someone to accomplish a financial goal if they’re not quite sure what it is,” Larsen said.
Larsen suggested putting the goal on paper and being as defined as possible. He advised that married individuals sit down together to create a clear list that both individuals understand and are willing to achieve.
Nils Larsen emphasized the importance of prioritizing financial goals. Most individuals and families have more than one money-saving aspiration. Some are short-term, and others are for decades down the road.
He suggested creating a priority list and revisiting it every six months. His clients often realize they’ve already achieved some goals on their list, and other priorities can be added.
Measure Financial Goals
Nils Larsen, manager of finances added that all established goals should be measurable. He explained that a goal like paying off debt is measurable because you can choose an amount you want to pay per month or year and continuously achieve that goal.
“Getting out of debt is one of the most important financial goals because it can lead to achieving other financial aspirations,” Larsen said. “I advise many of my clients to create goals to tackle debt first because it always holds individuals and families back.”
Spend and Save Intentionally
Nils Larsen explained countless instances where the average person spends money they’d rather be saving. He explained that cutting out a daily latte for five years and putting that money in an investment account will result in about $8,000 in savings. Doing the same for 15 years will result in $45,000.
The point is to consider all purchases before making them. Larsen suggests that every family create a monthly budget and stick to it, even if that means sacrificing some luxuries.
Nils Larsen Manager and Financial Planning
Nils Larsen is considered an expert in the field of financial portfolio management. He has more than two decades of experience in the industry and prides himself on the many financial goals he has helped his clients achieve.