October marks a season of change — crisp mornings, shorter days, and the quiet reminder that a new year isn’t far away. It’s also a natural time to pause, reflect, and prepare for what lies ahead. Just like nature, financial planning invites us to prepare today for the seasons of life still to come — not just for ourselves, but for the people we love.
Why Start Early
One of the most powerful truths about money is this: the earlier you begin, the easier it becomes.
Starting small — whether with your first paycheck or after a career promotion — gives you the advantage of time. Each year you plan ahead, you’re removing stress from your future self. Instead of wondering where your money went, you’re directing it with purpose. Over time, those small, intentional steps add up to something meaningful: peace of mind.
Building a Foundation: The 20/50/30 Rule
Financial planning starts with clarity, and clarity on where your money goes starts with a budget. An important note to make is that a budget isn’t about restriction, it’s about freedom.
A simple, proven framework is the 20/50/30 rule:
- 20% is dedicated to savings and investments.
- 50% of your income covers your needs (housing, groceries, utilities).
- 30% goes toward your wants (dining out, hobbies, entertainment).
This approach keeps your spending balanced so you can enjoy life today while still securing your tomorrow. When every dollar has a job, your goals start to feel attainable rather than abstract.
Investing: Planting Seeds for Growth
Once your budget is in place, investing becomes the natural next step. Think of it like planting seeds in rich soil. Growth doesn’t happen overnight, but with consistency, it can be extraordinary over time. Even small, regular contributions can grow significantly thanks to the power of compound interest.
Whether you’re contributing to an employer-sponsored plan like a 403(b) or 401(k), adding to a personal investment account, or increasing your retirement savings to an IRA or Roth, each contribution is a step toward long-term independence.
Planning Beyond Yourself
Financial planning isn’t just about numbers or net worth. It’s also about people. As life evolves, we’re often called to think beyond ourselves — about aging parents who may need our support, or children and loved ones who will one day inherit what we’ve built.
Having these conversations now — about beneficiaries, healthcare directives, or transferring accounts on death (TOD) — is an act of care. It’s about protecting your family and ensuring your wishes are honored. These discussions might not be easy, but they create clarity and peace of mind for everyone involved.
A Season for Reflection
October is the perfect time to take stock of your financial life.
- Review your budget to see if it still reflects your values and priorities.
- Increase your retirement or savings contributions, even by a small amount.
- Start those family conversations about estate planning and end-of-life care.
Each small step strengthens your financial foundation and gives you confidence moving forward.
From Numbers to Purpose
Ultimately, financial planning is about more than dollars and cents. It’s about creating a life where you can enjoy today while also feeling secure about tomorrow — for yourself, your family, and your future.
If you’d like to explore these ideas more deeply, I encourage you watch our full webinar: “From Paychecks to Purpose”
And as always, our team at Shadowridge is here to help you build a plan that fits your goals and values — in every season of life.
Regards,
