Financial planning involves more than jerking your knee to the latest money headline. Sure, the world economy, the globe’s tribulations and the latest loud investing pundit try to make you panic. How you react is vital to your long-term financial health.
Creating Financial Plans
My friend complained, “My smartphone is smarter than I am.” For all of its wonders, there is one thing that technology cannot replace: the human element, your being present face-to-face and not in cyberspace.
We’ve all been there: scratching our heads wondering what to do with all the retirement savings accounts. Too many choices can be overwhelming, until you step back and realize that there are actually only three questions. Once you know this, starting to make decisions becomes much easier.
A husband and wife not long into retirement age come together to a financial planner to map out the rest of their years together, a sensible move when trying to tame the future. Just one year later, the husband is dead and, for the first time in almost four decades, the widow faces a future without her spouse and an overload of complex finances.
Great financial planning requires you to employ two contrasting skills: Focus intently on your end objective, whether a comfortable retirement or a certain net worth; yet remain flexible for the inevitable bumps in the road. How can you balance the two? What financial tools can help you most?
Paul was a comfortably retired dad with a financially strapped son, whose own retirement prospects appeared dim. But grown sons too often don’t listen to their fathers. That’s why Paul called in his advisor to help his offspring, John.
We all know that the market is volatile with a lot of dizzying ups, downs and turns. On roller coasters, some of us enjoy the thrill and some find the ride terrifying. Ditto with stocks. Finding out how you tolerate market swings greatly helps set your direction of investing.
If you’re a millennial (born between 1980 and 2000, aka Gen Y), you face financial questions besides just getting through to next payday. Here’s how to seriously plan with your money.
When Apple replaced AT&T in the Dow Jones Industrial Average recently, all previous performance for this commonly cited investment index became even less relevant.
A lot of financial planning revolves around families and married couples. But if you’re single, you need just as much (if not more) planning to navigate toward retirement. Here are five tips to get you on track.