Financial planning is vital at every stage of life. When you are young and just starting out, the goal may simply be to cover monthly expenses, get out of debt, and save for the future. As you get older and your financial life becomes more complicated (think of juggling saving for your kids’ education costs while saving for your own retirement),
When it comes to creating a personalized financial strategy, it is critical to understand what you might consider an acceptable risk level.
The year 2020 proved to be one of the most tumultuous in modern history, marked by a number of developments that were historically unprecedented. But the year also demonstrated the resilience of people, institutions, and financial markets.
If you’re not the type of person who feels comfortable betting your life savings on a long shot, the good news is that you don’t have to find the next big stock to win in the stock market. Concentrating your whole investment on one or two companies means the stakes are high enough to expose you to unnecessary risk.
In the song Brand New Day, Sting asks, “Why would you want to put yourself through all that again?” Indeed. It is now 2021 – a brand new day and a brand new year. It’s time for a fresh start, with the confidence that this year will be better than the last.
The Supertramp song, Give a Little Bit, includes a lyric that says, “there's so much that we need to share, so send a smile and show you care”. This sentiment has never been truer than in this year of struggle.
Anyone who knows the pangs of anticipation can relate to the lyrics in Tom Petty’s song, The Waiting when he sings “The waiting is the hardest part”.
The anticipation building up to elections often brings with it questions about how financial markets will respond. But the outcome of an election is only one of many inputs to the market.
The uncertainty can be challenging, but being prepared and having a plan in place helps reduce those “spooky” feelings. In light of the events of 2020, there has never been a better time to review your estate, insurance, and financial planning documents.
You can’t blame Marvin Gaye for asking, since we are two-thirds of the way through one of the craziest years ever for the US stock market, the American economy, and honestly, each one of us. The stock market’s movement in the first half of 2020 was a roller-coaster, full of steep climbs and sharp drops, only to climb again.
Certainly, 2020 has taught us that life truly is a highway, with starts and stops, twists and turns, and, unfortunately, plenty of detours and unplanned delays. The purpose of The Journey is to provide some navigation and advice to help you along the way.