Getting older offers a range of new challenges from your health to your finances and you need to take care that both are in order to ensure that you live a long and comfortable life.

Most of us could use a little advice on how to take better care of both so we are ready for old age and prepared for rainy days when they come. This needs is what keeps financial advisors like New York based Michael Briese in business. He provides needed sage advice to those worried about their financial futures.

When we are armed with good financial advice and are able to take it, we relax and let things happen knowing we are prepared for just about anything that comes along. What helps us through those times as well is a set of tips and guidelines. Here are some for you to follow:

Plan Out Your Financial Future

Put down on paper your financial goals and then work through what you must do in terms of financial milestones to reach those goals. You will be surprised how this exercise will help you understand what track you need to be on and how to follow that track.

Approach investing like you would any other business and a business needs planning. Lay out a list of the financials needs to invest and make a heist, then compare that with what you have on hand and can secure. Take a look at the cost of the money you will be investing. Will you be taking out loans? If so, you need to deduct any interest you will be paying against your projected returns. What is your timeline for investing? Are the properties actually available for you to purchase. Putting together a plan will demand that you do some legwork, get into the marketplace and talk with people. This feedback will be invaluable for you getting a clear understanding of what you are up against and how best to proceed. At the end you will have a winning plan.

Make practical not emotional financial decisions

Managing your money takes clear thinking and a systematic approach in order for it to get you to your financial goals. There are some rules you need to adhere to consistently.

Save a Percentage of Your Income: You need to put aside a good amount of your income every month. A great target amount is twenty five percent of what you take home each month. In your younger years when you want to party and be spontaneous, this can be really difficult. Young people like new and shiny things, which coincidentally are usually the most expensive. But you must fight this urge because your younger more productive years gives the money time to make interest and so saving when you are younger is the best thing to do. As you get older you must maintain your saving strategy and when you retire, you will be able to live the lifestyle you want.

Limit Excess Spending: excess spending is spending on those things that will not make a real difference to your life or lifestyle even. This could mean picking a less expensive restaurant over the hottest and most expensive one in town, using coupons and looking for deals when you travel, buying those designer clothes out of season or one year behind, and holding on to your car one extra year before you buy a new one, particularly if it is not busted. Combined, these will save you lots of money that can be used for other more important things like a private school for the kids or online classes that allow you to excel at your job.

If you adhere to these principals you will certainly be ready for your retirement financially and prepared to buy that new Rolex.