This post was originally published during the COVID-19 pandemic and was last updated on June 21, 2023, to reflect all updated information and best serve your needs.
Recent outbreaks of the coronavirus (a.k.a., COVID-19) outside of China raised concerns about health and safety. These increased concerns have sent stocks quickly lower over the last few trading days.
Inflation can really eat into your retirement if you’re not careful. However, with proactive planning, you can effectively combat inflation. You don’t have to let inflation slowly erode your lifestyle over time.
To be clear, there’s little we can do to eliminate inflation completely. However, you can avoid losing purchasing power over time. A properly constructed portfolio can withstand the damage of inflation.
Deciding how to spend down your life savings can be stressful. Working hard for decades to accumulate a nest egg is no easy feat. Spending money in retirement can be challenging because you don’t want to accidentally spend too much and mess things up.
Fortunately, you’re not the only one going through this, and you don’t have to do it alone. There are a multitude of options for what to do with the money you’ve worked hard for.
Roth IRAs are one of the most fruitful investment accounts for people trying to develop a healthy nest egg. Among their numerous benefits, the tax-free growth and retirement distributions with Roth IRAs can set you up for maximum retirement earnings.
Unfortunately, high-income earners are generally barred from taking advantage of a Roth IRA. In 2020, single earners with an annual income exceeding $139,000 were limited to a traditional IRA only.
You hear the words “diversified portfolio” all the time, but what does diversified even mean? At first, we’re not even comfortable asking because it feels like something we should know, but don’t. Let’s explore what being diversified really means and why you need a diversified portfolio.
You might be surprised at how little it really takes to be “diversified.” There are a lot of technical terms surrounding portfolio construction, but you don’t need to get too wrapped up about those. We’ll talk a lot more about your overall risk in your portfolio.
Recessions and down markets are scary, but they can also offer lots of opportunities too! If you’re wondering what to do with your money, you’re not alone. When markets get sideways, folks tend to look to make moves to protect their assets.
Depending on what your financial life looks like, you can employ a number of tax saving strategies and other methods to boost your financial stability. There are some particularly useful strategies for down markets.
Can you still retire in a recession or “down” market? Many have done it, but there’s so much to think about when things don’t feel very optimistic. Don’t worry.
There are lots of things you can’t control like the markets and when recessions will occur. Many other things you can. Let’s look at what needs to happen to successfully retire in a down market.
In today’s day and age of the internet, you can find just about anything in no time. Looking for a restaurant nearby? Go to the internet. Need a place to get a haircut? Go to the internet. Looking for background information on a financial advisor? Yep, go to the internet.
It amazes me how we found things before we had the internet. I guess we just asked for referrals from our friends, looked things up in the phone book or drove around until we found out what we were looking for…the indignity.
This post was last updated on 27 October, 2022, to reflect all updated information and best serve your needs.
In its simplest terms, an investment policy statement (IPS) is a list of rules drawn up between you and your financial planner to set clear and concrete goals for each other. It also works as a game plan for the financial planner so that they can employ their expertise in the best way they see fit to meet your goals in a timely and efficient manner.
This post was last updated on October 25, 2022, to reflect all updated information and best serve your needs.
The Solo 401(k) is one of the most powerful retirement savings options for self-employed individuals. If you’re trying to save on taxes, save for your future, and run a business, the Solo 401(k) might be right for you.
So, how many different companies have been at in your working career? If you’re like most people today, you’ve probably switched jobs at least a couple times. It seems like some people can switch every six months while others can stay for years.
Regardless, it’s extremely rare to see someone who stays with the same employer for life. Things have certainly changed from the baby boomer generation.
This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs.
When it comes to making investment decisions, sometimes our emotions take over for common sense. While we usually rely on our knowledge and experience to point us in the right direction, investing doesn’t always work that way.
Have you recently come into a $50,000 windfall, such as an inheritance? You may be tempted to buy a new car or take your family and friends on a dream vacation.
But before you do, stop and consider all of your options — including saving the money...who would've thought a financial advisor would recommend this. 😁Developing a sound financial strategy is a good way to make your money grow.
If you’re like most people, you work a lot. These days, a growing number of Americans are working multiple jobs. Either the gigs are all part-time, or people are working on side hustles to earn extra income.
One of the issues with the standard model of earning money is that you have to work for it. This is what’s called active income. You put in the hours, and you get a paycheck at the end of it. The more work you do, the more money you make.
By now, you’ve probably heard of the FIRE movement. FIRE, which stands for Financial Independence, Retire Early, is everywhere. As a matter of fact, there is even a new movie coming out called Playing With Fire. The film itself documents a young family’s journey into the FIRE subculture as they look for a way to cut down time spent working versus time spent with their family.
Financial freedom is a term used loosely, along with financial independence, and while they are very similar, they aren’t quite the same. The difference? Financial freedom allows you to completely walk away from your career without owing anyone a thing.
Have you ever been afraid to log into your bank account or check your credit card balances? If you’re losing sleep over your personal finances, you’re not alone. According to a Bankrate survey, 36 percent of Americans are losing sleep over money troubles.
While money anxiety can be more common than we realize, it’s important to address it sooner rather than later. Ignoring your finances will hurt you in the long run, even if it feels better to bury your head in the sand right now. Money troubles never go away unless you take charge of your situation and address them head-on.
With so many wealth management firms competing for a client’s favor and attention, you might be lead to believe that picking one is as easy as a walk in the park. Sadly, that's not the case. It's great that people have options nowadays, but the sudden increase in numbers also makes finding the right firm for your specific financial situation more challenging.
If you're at a point where your portfolio has become too large to manage on your own, then it's high time to call in the experts. The right wealth manager will help you identify solid investment choices and map out a strategy that will not only let you achieve your financial goals but surpass them, if possible.
This post was last updated on January 20, 2021, to reflect all updated information and best serve your needs.
This article WILL NOT teach you how to win the lottery. However, it will teach you how to invest any large lump-sum of money that you come into unexpectedly. if you're looking for lottery get-rich-quick schemes, this is not the right article for you.
This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs.
When entering the job market out of college, the concept of retirement seems like a lifetime away. Most people can't even fathom thinking about retirement which leaves neglected and unleveraged retirement accounts.
You’ve probably heard the term “Consumer Confidence” before, likely reported on your local news broadcast or business channel. Maybe you’ve heard of the “Consumer Confidence Index” and wondered if those two terms were the same thing, or something different.
Either way, you’ve probably noticed that these terms are discussed quite often, and seem to matter a great deal to some people. While these terms are related, they are not exactly the same.
