While you may not have time to read a book on financial planning or have the expertise to use elaborate financial-planning software, I would encourage you to take advantage of the amazing amount of free educational content available online. There are plenty of quick, bite-sized moments of learning that can have a material impact on your financial future.
Investment types often trot out the cautionary phrase, "past performance does not necessarily predict future results." And for good reason. Clients must understand that their financial tomorrow is no guarantee. Yet when it comes to the question of whether we are doing enough to ensure that we won't outlive our resources in retirement, we can learn a lot from history.
Later this year, at the age of 32, I plan to quit my full-time job as a software developer and don't intend to look for another one. By then, I expect my portfolio will be large enough to fund my essential expenses for at least the next 30 years, if not indefinitely, so that getting another 9-to-5 job becomes an option rather than a necessity.
Use the college process as an opportunity to teach financial lessons to your children by getting them involved in the decision-making process around savings and budgeting. By saving early and planning ahead, you and your family will be in a stronger position to tackle all of life's expenses from college to retirement.