Issue link: http://cp.revolio.com/i/142672
plan for your future One of the hazards of a profession in which your income fluctuates from week to week is that those income variations become an excuse for not saving for retirement. Or perhaps you employ these excuses: "I plan to save for retirement ... once my practice is well-established," "once I turn 40," "once my car is paid off," "as soon as I've finished paying my daughter's college tuition." Or, "I plan to keep practicing massage well into my 70s, so I won't need much in retirement savings." Each of these reasons offers a kernel of seemingly good rationale. Yet each may prove disastrous in crimping your readiness for retirement. Whether you continue to practice massage or switch to another career, some combination of subtle age discrimination, corporate reorganizations, and your own personal health challenges may make it difficult to keep working and producing plentiful income past age 60. Very few therapists work for employers who offer companysubsidized retirement plans. If you are so fortunate, take full advantage of your opportunity to make tax-free contributions to such a plan. The rest of us have to stare in the mirror, realize we can only look to ourselves as sources of retirement savings, and make a commitment now to save a portion of our current earnings so we can build a nest egg to help us financially when we are older. Planning for the financial future comes easier to some and is more difficult for others; yet clearly those of us who find it a challenge are in the majority. Despite the wealth of resources available for financial planning and the growing popularity of investing, fewer than half of all Americans have put money away specifically for retirement. Yet, as difficult as financial planning might be for the average person, it is all the more difficult— and all the more imperative—for the ranks of the self-employed. What is financial planning? It is the personal side of financial management, making sure the profits from your well-run practice are managed in a way that advances you toward your own personal goals—long-term goals, as well as current aspirations. Your Financial Goals For some, money is a goal in itself. Given your choice of profession,