Most everyone hopes to one day achieve financial stability. Attaining such a goal could be the first step to achieving financial independence. This brief piece highlights several signs that may indicate someone is financially stable.

1. THE SIGNS OF FINANCIAL
STABILITY
RICHARDFUNCHESS.NET
Presented by Richard Funchess

2. Financially stable individuals commit to a savings plan that
secures a solid percentage of their income and other monetary
sources. Financial experts suggest that individuals should tuck
away at least 15 percent of their income through the entirety
of their working lives. Certain monetary experts opine that
people should consider stashing away a greater amount than
15 percent.
Those who display financial stability learn to live within their
means. The temptation to enjoy the “good life” and indulge in
luxuries one cannot afford is a common mistake that many
people make. One important step to attaining financial
stability is learning to avoid living in homes, driving cars and
taking vacations that put a serious dent in one’s purse.
EXHIBIT A HIGH
SAVINGS RATE & LIVING
WITHIN ONE’S MEANS
Commit to a Savings Plan

3. Financial planners opine that those exhibiting monetary stability
possess emergency funds that can sustain them for an extended
duration in the event an unforeseen expense occurs or an
unexpected event such as a job layoff takes place.
One critical step towards attaining financial stability is being well
insured. Unexpected events such as illnesses, accidents or property
damage can and often do occur. That said, these unfortunate events
have the potential to result in devastating financial consequences.
Ergo, financial professionals believe those who plan to become
financially secure must invest in health and property insurance
policies that provide adequate protection against most events.
Keep an Emergency Fund
“RAINY DAY” FUND &
BEING WELL INSURED

4. Members of the financial planning community opine that, as
individuals grow older and near retirement age, they should
gradually attain more passive income. Passive income can take the
form of various investments such as stocks, bonds, real estate).
Many financial experts believe that financial stability is almost
unattainable unless both spouses share similar financial
philosophies. If one spouse wishes to live beyond their means while
the other adheres to more stringent monetary plans, disaster could
ensue. Financial planners suggest that spouses always be on the
same financial page.
CONTINUING TO AMASS PASSIVE INCOME
& BEING ON THE SAME PAGE AS YOUR
SPOUSE
Listen to Financial Experts

5. THANK YOU!
Richard Funchess | RichardFunchess.net
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