There is no sugar coating it. Last week was a bad week for stock in the US and around the world. The S&P 500, which represents the 500 largest companies in the US, declined 5.7%. This was its worst weekly decline in almost 4 years (September 23, 2011.) Markets around the world followed suit.
One thing I have learned is that diversification can be an easy concept to explain to clients but difficult for them to embrace. Diversification is typically presented using the analogy of holding all of your eggs in one basket. This is far too simple.
The answer to reaching your financial goals is as easy as looking at your shampoo. On the back of every shampoo bottle there are three simple instructions; Lather. Rinse. Repeat. A simple three step approach can also be applied to your financial goals: Contribute. Be Disciplined.
My wife and I were shopping a few weeks ago when she used a line that pretty much everyone has used at least once in their life, “We need to invest in a new…” You fill in the blank on the purchase but every one of us has tried to justify a purchase as an investment. We all know in reality that we are just buying something.
Our financial lives as couples are complicated. Merging together two people’s financial life can take time particularly if you got married a little later in life. In most cases, we have structured are home life around one person taking ownership of certain tasks. The same usually applies to your family’s financial tasks.
A common theme I keep hearing from clients, friends and acquaintances is they feel the stock market is running out of steam.
Many employers are offering you the option to contribute to a Roth 401k as part of their 401k plans. This option has been around for about 10 years and is slowly being added to more plans. This has created some confusion on which way you should direct your retirement contributions.
As we work with our clients through the financial planning process they ask great questions. Frequently, the one account that clients ask the most questions on is 529 accounts.
Your 401k is one of your greatest tools to save for retirement. Most 401k plans need somewhere between a tune up to a complete overhaul to get it on track. Whether you have a 401k, 403b or other work place plan here are 15 signs it needs some attention.
With Memorial Day coming up this week it is the unofficial start of summer! Before you check out for the summer here are three “to do items” for your finances. Consider it sunscreen for your personal finances.