Dykstra: Slow & Steady

I'm sure we can all remember how we felt when we were young, impressionable and invincible. Our motto was live for the moment; only when the moment was over would we deal with the consequences. There was little, if any, thought about the potential impact on tomorrow -- let alone five, 10, or 20 years down the line.

But thinking about the future is critical to your financial health. Unfortunately, most of us are not adequately prepared to properly manage our finances. Furthermore, many of us are oblivious to the importance of saving and allowing our money to make money. I am particularly concerned about our children's generation; it seems as if it's in a prolonged instant gratification phase, which impacts negatively on building for the future.

Moreover, with the uncertain status of Social Security, a relied-upon source of retirement income may be significantly reduced or potentially eliminated. This will create even greater demands on our children to successfully manage their money and build wealth moving forward. ...