Financially Preparing for the Unknown 

Predicting the future down to every detail is impossible. Now more than ever, people are questioning the future of their health, finances, and careers. We understand this is troubling.  One lesson you can learn as you look ahead is how prepared you are for financial uncertainties. Many events in life are unpredictable, but you can plan financial stability through sudden setbacks.   Here are a few tips to help you plan for the unknown and improve your current financial life:  Stick with Your Savings Plan.  If possible, keep working as much as you can. If there are other opportunities to earn extra money during this time, go for it. Then, save all you can and limit unnecessary spending. This will help you build an emergency fund.   While it may be tempting to spend your stimulus check, put it into savings instead. Since the future is unknown, it’s better to have emergency funds to fall back on if…

September 14, 2020Future Planning, Wallet Wins No Comments
Financially Preparing for the Unknown 

Predicting the future down to every detail is impossible. Now more than ever, people are questioning the future of their health, finances, and careers. We understand this is troubling.  One lesson you can learn as you look ahead is how prepared you are for financial uncertainties. Many events in life are unpredictable, but you can plan financial stability through sudden setbacks.   Here are a few tips to help you plan for the unknown and improve your current financial life:  Stick with Your Savings Plan.  If possible, keep working as much as you can. If there are other opportunities to earn extra money during this time, go for it. Then, save all you can and limit unnecessary spending. This will help you build an emergency fund.   While it may be tempting to spend your stimulus check, put it into savings instead. Since the future is unknown, it’s better to have emergency funds to fall back on if…

IRA Investing for Beginners 

Although many employers offer 401k and other retirement options, it’s a good idea to set aside personal funds as well to ensure you can enjoy retirement the way you want to. A great place to start is to invest in an IRA (or Individual Retirement Account).   What is an IRA?  An IRA is a personal savings account set up specifically for retirement. Employees under the age of 50 can contribute up to $5,500 a year into an IRA – after age 50, you may contribute up to $6,500 a year. Because it’s designed for use during retirement, there are specific…

June 25, 2020Future Planning No Comments
IRA Investing for Beginners 

Although many employers offer 401k and other retirement options, it’s a good idea to set aside personal funds as well to ensure you can enjoy retirement the way you want to. A great place to start is to invest in an IRA (or Individual Retirement Account).   What is an IRA?  An IRA is a personal savings account set up specifically for retirement. Employees under the age of 50 can contribute up to $5,500 a year into an IRA – after age 50, you may contribute up to $6,500 a year. Because it’s designed for use during retirement, there are specific…

4 Investment Options You Should Know About   

The investment world can be as complex or simple as you would like to make it.  There are many options available from which to choose when you have your investment plan ready to implement.  Let’s look at some of the different investment tools available in more detail so you will have a better understanding of each.    1. Stocks Stock is purchased as an investment in a company with the understanding that the company will be profitable, and the stock price will go up.  The value of stock is dependent upon the market conditions at the time of purchase and the time of sale.  Most people hope…

June 22, 2020Future Planning 1 Comment
4 Investment Options You Should Know About   

The investment world can be as complex or simple as you would like to make it.  There are many options available from which to choose when you have your investment plan ready to implement.  Let’s look at some of the different investment tools available in more detail so you will have a better understanding of each.    1. Stocks Stock is purchased as an investment in a company with the understanding that the company will be profitable, and the stock price will go up.  The value of stock is dependent upon the market conditions at the time of purchase and the time of sale.  Most people hope…

Smart Tips for Investing in Your 401(k)

How can you make the most out of your 401(k)? Take a look at some ways to maximize this important investment:  Meet regularly with your financial advisor. The best strategy you can take to maximize any investment is to get professional assistance. A financial advisor will discuss growth strategies with you and encourage you to make smart choices with your 401(k). Furthermore, they can help you with any other current or potential investments you may have. Most advisors suggest meeting with them semi-annually or annually to review your entire investment portfolio. Be sure you understand the rules and contribute to the limits if you…

May 27, 2020Future Planning No Comments
Smart Tips for Investing in Your 401(k)

How can you make the most out of your 401(k)? Take a look at some ways to maximize this important investment:  Meet regularly with your financial advisor. The best strategy you can take to maximize any investment is to get professional assistance. A financial advisor will discuss growth strategies with you and encourage you to make smart choices with your 401(k). Furthermore, they can help you with any other current or potential investments you may have. Most advisors suggest meeting with them semi-annually or annually to review your entire investment portfolio. Be sure you understand the rules and contribute to the limits if you…