1. Analyze and improve your current financial situation.  This includes net worth, assets, liabilities, and forecasts of financial standings.
  2. Determine how you spend your money.  This includes setting priorities that are important to you and help make saving a part of your budget.
  3. Automate Savings.
  4. Make reasonable estimate of Retirement spending.
  5. Diversification and Tax-deferred savings plans. 
  6. Define the portfolio between growth and income and determine the risks.
  7. Create your plan including
  • Where you want to live
  • Maintaining good financial health
  • Maintaining good communication

Major Obstacles

  1. Inflation
  2. Taxes
  3. Procrastination
  4. Inflexibility
  5. Catastrophes