-- As the world remains on edge in the face of now uncommon economic markets, setting out a strategic personal finance plan can significantly prevent chaos and help push through uncertainties. Tony Amaradio discusses the importance of financial planning and provides specific actionable items to enhance stewardship. He teaches to achieve prosperity by setting goals that are realistic to each unique situation and start out by getting a reputable and trustworthy advisor with similar values.
Financial planning is crucial to prudent awareness and fiscal responsibility. The first step involves delving into each personal economic situation and knowing all assets and liabilities. “Plan a budget that works for you,” says Amaradio. “If you are working towards debt reduction, you will require a different structure than if you are focused on retirement savings. Develop an integrated system of monetary administration that is based on your specific reality in this moment taking into consideration future goals.” He recommends breaking down spending habits into categories based on what is needed (housing, utilities, food) and what is unnecessary (entertainment, hobbies), as well as tracking expenses and financial concerns based on each personality and requirements. “Knowing what works for you and sticking with it will ensure success,” asserts Amaradio.
Diversifying investments through mutual funds, stocks, ETFs and other investment choices is also important. There are no guarantees, but having a well thought out portfolio with smaller amounts of capital divided between options will be more secure in the long run than a large sum in one volatile and uncertain endeavor. Every investment has risks and nothing is certain but asset allocation will provide stability from a broader outlook. Tony Amaradio encourages his clients, fellow Christians and the general public to understand the fundamental necessity of prudent financial planning that involves patience, consistency and dedication to generous philanthropy.
Congregate with likeminded individuals and work together to share the wealth. With strategic giving practices and a Christ oriented vision, financial awareness becomes more about stewardship than acquiring excessive things for oneself. “From a biblical perspective it is all God’s money and how we choose to deal with it reflects our true priorities,” says Amaradio. “In this way we are stewards of our possessions, not owners. Being grateful and giving generously have a broad impact on the economic future of ourselves and our world.” Generosity, diversification and personal planning work together towards a strong financial future for anyone who takes time to implement Amaradio’s advice.
Tony Amaradio is an innovator in wealth management. Founder and Chief Strategist of two companies, Select Portfolio Management, Inc. and Select Money Management, Inc., he is a visionary and an industry leading economic advisor committed to educating others regarding establishing, managing and planning assets. Respected author and radio show host for more than twenty years, Amaradio defines advanced marketing and investment strategies. The book he wrote with his wife; Faithful with Much: Breaking Down the Barriers to Generous Giving, offers practical Christian advice regarding finances and possessions. His passion to help others extends to philanthropic activities and he proudly supports many charitable causes.
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