Imagine this: the year is 2014, and your diversified investment portfolio is earning a measly 7% while your neighbor Joe’s concentrated S&P 500 index is up over 14%(1). As if that wasn’t enough, Dianne, across the street, made a risky decision to buy stocks concentrated specifically in airline companies, and she’s all but doubled her investment (2)! So what gives? You’ve hired a financial advisor, and they don’t seem to be keeping up.
One of the biggest challenges when saving for retirement is understanding how to invest your 401k. There are very few quick and easy ways to know for sure that you are making the right decisions
From where did you learn most of your life skills? How did you learn to brush your teeth, read, write, or drive a car? Personally, I learned these things from my parents and teachers. There is a topic that affects nearly every facet of our lives, and many parents have limited knowledge of it, and it is often not covered in school: finances! Finances are consistently listed as one of the top reasons for divorce, and money is one of the biggest causes of stress for Americans.
Congratulations, graduates! You've worked hard, gained valuable skills, and are now standing on the precipice of an exciting new chapter. Whether you've earned a degree or a trade certification, you're about to embark on your first career job, and with it, your first taste of substantial income. This pivotal moment presents a unique and often overlooked opportunity to lay a financial foundation that will change your life.
In the world of finance, few things are as constant as change. Market volatility, economic uncertainty, and geopolitical shifts are recurring themes, and right now, many of us are feeling the impact. It's natural to experience a range of emotions – from anxiety and fear to frustration and even a desire to "do something" – when your financial outlook seems less predictable. However, it's precisely in these turbulent times that managing your emotional responses becomes one of your most powerful financial tools.
People frequently refer to the stock market as a “casino”, as if they have zero influence over the financial result of their decision(s). However, there are at least two important differences between gambling on slot machines and investing in an actual business, or a collection (portfolio) of businesses: Entitlement and predictability.
As a financial advisor, I spent a lot of my day indoors. Either sitting at a desk or a conference table. However, every once in a while, I get a chance to support a local charity and play in a golf outing, or even skip out of the office early to play a quick nine before I head back home. Here in the Midwest, we only have a few good months for the golf season. So, as I’m taking advantage of the sunshine while we have it, it has me thinking: How can golf help with money management?
The transition into retirement can be very exciting, but it is also one of the biggest adjustments a person can make in their life. I have been blessed to help dozens of clients transition into retirement, and everybody, without exception, is a little nervous (or a lot). If you are approaching retirement and feel anxious, unsure, or fearful, you are not alone.