by: Christina Pontisso
Robert Powell, contributor to USA Today, recognizes how hard it is for working millennials or gen. Xers to save for tomorrow while living for today.
Powell offers some great tips on how to best manage your assets and liabilities while saving for your retirement.
Begin with a balance sheet: discover your net worth after subtracting your liabilities from your assets. It’s good to list out all of your inventory: what you owe and what you own.
Create a budget: Lawson recommends using a three-bucket approach to spending 1) past/committed expenses 2) savings and 3) current expenses. This helps align your priorities each month.continue reading »