H eadlines
For Fiscal Health, Be Own First Responder
BEN FELD | JE FEATURE
IN AMERICA, we treat our first
responders with great respect, as
well we should. They put their
lives on the line for us every day.

And with a tip of the cap to
them, you are reminded there
is something you can do for
yourself each and every day: Put
your fiscal health on the line.

Keep it front and center and be
your own fiscal first responder.

No doubt you have finan-
cial goals. They will differ
from your friends and neigh-
bors, and sometimes they will
test your mettle. But you can
achieve them because, through
the course of your life, let’s face
it … your buck stops with you.

Sound retirement. College
savings. Bigger home. Starting
a business. Health care needs.

And more. It all can be accom-
plished if you choose to be your
own fiscal first responder.

What steps must you take?
The choices will vary and sta-
tistics will differ as to how
much you will need for what,
but this list will serve as an
initial fiscal first guide:
Jirapong Manustrong / iStock / Getty Images Plus
F INANCE
Pay yourself first.

Any time you have the
opportunity to contribute to
an employer’s retirement plan,
jump on it as fast as you can
and for as much as you can.

Especially when your account
will grow tax-deferred and your
employer may make matching
contributions. Insure to ensure your family
and/or business fiscal health. nate does occur and you must (life insurance) and your abil-
Sometimes, the unfortu- be prepared. Protect your life ity to earn an income (disabil-
ity insurance), as well as your
home and other key assets.

Plan for Uncle Sam.

Do you keep careful records
to meet your uncle’s April 15 tax
deadline every year? And are you
doing at least some initial plan-
ning with an eye toward your fis-
cal future? It is a good truth to
contemplate — the day may come
when you need estate planning.

expenses in a liquid asset such
as a money market or savings
account. Stuff happens, as they
say. Be ready if and when it
happens to you. And let’s hope
it doesn’t.

Some may have a longer list
of steps. Some shorter. But if you
are going to be your own fiscal
first responder, you can plan for
what you can control and be pre-
pared for what you can’t.

Develop your list. Be aware of
it every day but check it at least
Save for college costs.

once every three months. Work
They are rising faster than with the financial professional(s)
the overall inflation rate. with whom you feel comfortable
Prepare now. No children? Then keeping in mind your own par-
pay yourself first even more.

ticular circumstances.

Fiscal first. l
Establish an emergency
fiscal fund.

Ben Feld is an adviser with
Keep three to six months of 1847Financial in Conshohocken.

Be heard.

Email your letters
to the editor.

letters@jewishexponent.com 24
FEBRUARY 21, 2019
JEWISH EXPONENT
JEWISHEXPONENT.COM