Retirement is an aspiration we all hope to reach – sooner rather than later! However, if you’re just starting your career journey, retirement can seem like a lifetime away. For others, it’s right around the corner, and you may be wondering if you’re genuinely prepared, financially speaking.
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So this pay period looks to be a great windfall. You’ll have that extra bit to sock away for a rainy day. When we ask people what they plan to do with the extra money, many of them tell us that they plan to invest it toward their retirement.
One of the most popular questions people ask is whether they should save their money or invest it. The simple answer: both. While investing your money traditionally earns more than a savings account, there are risks and downsides.
Before you jump straight into risk-based investments, it’s essential to understand the pros and cons of both options
With the rise of online trading companies, it has become increasingly evident that investing and financial well-being weigh heavily on the minds of many Americans. These companies offer the promise of super-easy investing and outstanding returns.
Unfortunately, that is only half the picture when it comes to a solid long-term investment strategy. In reality, it takes much more than a few great stock picks along the way. However, working with a reputable financial advisor can help you make wise investment decisions and help you keep a well-rounded investment portfolio.
Buying a home can be exciting, and with the quick pace of the market today, it’s easy to get caught up in the moment. The competitive real estate market can lead people to make home offers before they’ve done their due diligence. The result can be buying a home that doesn’t really fit their needs or wants, or worse costs more than they planned on spending.
4 Ways to Boost Your Home’s Equity
Home equity is important to have for many reasons, including to borrow against it in the form of a home equity loan or home equity line of credit (HELOC). Home equity represents funds you can use to do any of the following, or more!
In a roller-coaster-type fashion, consumer saving and spending have seen their ups and downs during the Covid-19 pandemic. First, when the pandemic started, not only did spending on travel come to a screeching halt, but entertainment rapidly declined, as did in-person shopping. In general, people were spending less of their money, preferring to hold onto their cash partly or fully due to the unknown. Then, as the pandemic continued, government stimulus payments started hitting consumers’ accounts, and many people decided to safeguard these payments too.
This scenario resulted in a rise in consumer savings. However, that shift in consumer saving over spending is starting to reverse course as a result of a few key drivers, making it harder to maintain the savings you built.
If you’re like most people, you likely start each year with a list of resolutions to help you improve various aspects of your life. The list may include resolutions to help you become more physically fit, further your career growth and improve your personal relationships. Another category of resolutions you may make centers on those that affect your finances.
As 2021 draws to a close and we prepare to usher in 2022, take a moment to go through this year-end financial checklist for ensuring your finances are in order before the start of the New Year.
For many, fall signifies the beginning of the end of the year. It’s a time when many people start to plan for the holidays and the new year. Whether it's about decorations, parties, gifts, travel, entertainment, or anything in between, the magic of fall is contagious. But did you know that fall is also one of the best seasons for financial planning ahead of the new year?