Are graduating from college this year and looking forward starting your new career?  Congratulation and welcome to the real world and I'm sure you are already noticing that it is certainly different from college life. 
 
You may not realize it yet but your financial needs and responsibilities have also just changed and if you are going to control what happens to you, now is a good time to get yourself a financial plan. 
 
Your plan will allow you to focus on four very important parts of your financial future, areas that are critical to your well being –

1. Retirement
2. Investments
3. Protection and
4. Estate planning.

I can see your reaction now - “ retirement, I ain't start working yet!” 
 
And that is exactly why it is important that you start out right because if you don't you will end up working harder and longer than you really want and not enjoying or achieving the quality of life your desire! 
 
You must never forget that work is simply a tool through which you  use your talents to benefit other who reward you with money to pay for the life you want.  Once you bear this in mind that you would appreciate the definition of retirement- not retirement in the traditional sense where you work for forty years and forced to leave the workforce because of your age. 
 
Retirement is really the opportunity to do what you want to when you want to do it without the fear of running out of money and health.  
 
And you must admit that this really what you want, so retirement has nothing to do with your age but your money.  And you can only achieve it by taking control of your money with your financial plan from your very first pay cheque. Never forget that every pay cheques you receive is one less pay cheque that you will be receiving. 
 
Secondly, investments are simply opportunities to put your money to work for you.  Right now you will have to work for money but over time as you earn money you should look for ways to put this money to work so that it is creating an income for you.   
 
You must begin this as soon as possible because a portion of every dollar you earn should be focused  on creating wealth. And Wealth is simply determined not by the flashiness of your car or the elegant  of your home or fashionableness of your clothes but in “how long can you go without a pay cheque.”      
 
You would also appreciate that the key to investing is not to lose money so whatever it is you are putting your money in you should not invest until you have answered these three questions:-

1. What are the ways that I can lose money with this investments?
2. Will I get my money back from this investment?
3. What is the return on this investment?

Simply but very important questions because it is quite easy to get distracted by the noise in the market and allow greed to overwhelm your better judgement but it is still true that “if it sounds to good to be true, it probability ain't true.”  
 
Thirdly, your protection need is something you will come in contact with sooner than you think and these needs can only be satisfied through insurance.

1. The car you drive will require that you have auto insurance.
2. You will choose the company you work for depending on the insurance coverage it provides in its benefit package.
3. As a gainfully employed individual, you will be required to contribute to National Insurance 
4. When you purchase your first home you will need to have Life, Mortgage indemnity and Homeowners insurance.

However, one of the most important insurance you will need and one that is probably not on your mind is life insurance. Right now you feel invincible and your thoughts of life insurance may be limited to dieing  but it is the most requested coverage for most financial transactions.  
 
And this is the best time to purchase this coverage as the premiums are determined by your age and health and at no other time in your life will it be better than now.  So there is value in you purchasing life insurance as soon as possible.  
 
Finally, if you are working your financial plan the way you should then you would want to ensure that you have a plan in place for passing it on to those you love should something happens to you. And this is where your estate planning come in. So be sure to get yourself  a Will, Enduring Power of Attorney and any Trust instruments that you feel will best accomplish your wishes. 
 
There you gave have it the four things you should think about sooner rather that later but it is all controlled by your financial plan! 
 
Got a question about financial or retirement issues you're facing - any question at all. Just Ask Glenn!  
 
Copyright ©  2009 - Glenn S. Ferguson 
 
Glenn Ferguson is a Speaker, Coach and Syndicated Writer, helping you to painlessly take control of your Money to Create wealth for you and your family.  Email to: glenn@financialcoachingwithglenn.com    Website: www.financialcoachingwithglenn.com   Tel: 242-327-2453  Fax: 242-327-2456