Vincent Camarda and the Essentials of Financial Planning

Let A.G. Morgan CEO Vincent Camarda guide your way to financial solvency by making the most of your resources. Even if you have to start at rock bottom with zero savings, your financial planning guide can lead you to a stable income and a fat bank account when push comes to shove.

You should have a matrix of priorities when it comes to expenditures whether it's capital for your startup or savings for your family. This includes urgent and important, non-urgent but important, urgent but unimportant, and non-urgent and unimportant.

Rethinking Financial Planning

According to Vincent Camarda, financial planning is more than just living within your own means instead of beyond your means. It's not just keeping watch of what you spend or allocating a fund for free spending while the rest of your paycheck goes to the bank. If it were just that, you wouldn't need further advice!

• Experts in Different Fields: One thing of note about financial planners and advisors is that they're experts in various fields of expertise. They have different areas of expertise or specialties. They're like doctors or dentists. You can go to a general practitioner for general budgeting advice or go to an expert on property investment or stock market management.

• Why You Should Diversify Your Portfolio: Financial advisors and planners will probably give you the same advice as investment managers—diversify your portfolio. This simply means putting your eggs into multiple baskets and having at least one basket serve as your lock-and-key safe while the rest are potential multiple income sources.

• Advice on Disposable Income: Instead of wasting your extra money on frivolous things or to earn enough so that you'd have the privilege of allocating fund on frivolous things, you need to pool all your resources including disposable income and side hustle money to endeavors that give you a financial net positive in one way or another.

• You Won't Win the Lottery Every Time: Your financial planner will help you put together an entire retirement savings plan based on what you're earning now, your career trajectory, and what you've saved so far. You'll also do investments here and there. Not all of those investments will pan out for you, but it's okay as long as you win more than you lose.

• Early Planning Pays Dividends: Don't wait for the big break that will never come. Don't go through the motions of your work, living from paycheck to paycheck with no end game in sight. Even if you're passionate with your work, it's no excuse to disregard budgeting and savings for later!

The Difference is in the Timeline

Remember the matrix of priorities? You can work along with your financial advisor or planner in order to plan out a savings plan where you put in the majority of what you earn in the banks as top priority and disregard frivolous junk as non-urgent and unimportant investments.

• The Early Bird Hatches the Best Nest-Egg Investments: The earlier you start thinking of planning your finances the better of you'll end up being when all is said and done. Money builds upon itself dollar for dollar or brick for brick. Larger savings can also absorb unexpected emergency expenses better.

• Save Money to Save Yourself at Any Age: You can start your investment journey at any time or any age. However, the earlier you do it the better. Are you in your 20s and 30s? Go ahead and save. What about your 40s, since life allegedly begins at 40? Absolutely, and your career should be much better now (you're not just doing entry-level jobs at this point).

• You Should Be in Control of Your Money: At the end of the day, it's not only night; you should also realize you're the one in charge of your own finances. Your financial planner can't and shouldn't spend your money for you (that's stealing and can get them jailed). He can only guide you to better use your money.

• Keep in Mind Long-Term Goals: A good way to keep even younger urban professionals and green businessmen from spending money recklessly and extravagantly is by having a long-term goal in mind. It can be anything for any person with financial status as long as it takes time for them to achieve it, like buying a house or buying controlling shares on Amazon.

• Time is Money in More Ways Than One: Time is money in the sense that you're charged by the hour or by every half month to a year when working at any job. Time is also money in terms of the time you have left on this earth to save or spend your cash. You can compound interest on money over time but banks have too little interest to spare.

• Smartly Make Use of Your Time and Money: When doing financial planning and mapping out your end goal for reaching affluence, you should take the advice of experts like Vincent Camarda of putting your money in separate accounts, investing in startups, investing in yourself by taking new college or vocational courses, and so forth. Be smart with how you use your time and money.

• Think of the Return of Investment: When spending money, keep in mind the ROI or Return of Investment so that the cash flow keeps coming uninterrupted instead of your expenditures serving as your money sink. Once you think like an investor or a businessman, then sticking to your budget and sacrificing temporary happiness for long-term game becomes second nature.

• Invest, Invest, and Invest Some More: Buying up McDonald's instead of cooking because you're too lazy to wash the dishes is a waste of money and can lead to serious health problems down the line that leads to expensive medical bills. Instead, use that money for small-time to big-time investments so you can afford to splurge from time to time.

The Bottom Line of Financial Planning

By hiring Vincent Camarda or other financial planners like him, you can get a customized financial plan that works for you and your family when push comes to shove. This is a dynamic instead of stringent plan with many alternative avenues to reach affluence.

To be honest, that's how you should approach wealth building. There should be a dynamic budget that adjusts to unchangeable factors that inhibit financial growth like inflation, politics, war, and natural disasters. You can invest in insurance premiums to watch out for those as well.