Figuring out how to reach your financial goals takes a lot of planning. This thought may be daunting, but thinking about your goals in the same way you would map out a road trip can make planning easier. Now it sounds a little more fun (Florida? The East Coast?) and you can visualize your financial goals with a clear start and destination. Use these tips to ensure a smooth journey for each of your goals, and get on the right road to reaching them.
Set yourself up for financial success in 2017 with this exercise.
- Define your financial goals or check your progress on existing goals. What are you saving towards and what are your timelines?
- Find out how much you need to save each year to reach those goals. If you need help, work with an advisor and don't hesitate to ask them the right questions.
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Are credit cards with annual fees worth it? That’s a common question people ask when they’re applying for a new card. Psychologically, for many of us, it doesn’t make sense to pay a fee for a credit card. However, when you look at it from a pure financial point of view, credit cards with an annual fee may very well be worth it.
Risk plays a big part in your investment plan. Whether you opt for a more conservative route, or prefer a high-risk, high-growth approach, understanding how risk fits into your portfolio is essential in creating a plan that works for your goals.
It seems as though the first thing on everyone's mind when thinking about January 2017 is the inauguration of Donald Trump and the effect his first few weeks in office have already made globally. Trump's 17 executive orders have stirred reactions which have lifted the Dow Jones Index past 20,000 for the first time, and have simultaneously launched more protests in two weeks than it seems possible to count. Where will this new source of volatility lead us, and what does the resulting unpredictability really mean for your portfolio?
For many, ringing in the new year represents goal setting and a new chance to revisit existing objectives.
Often, these goals can be achieved within the year, like traveling, completing a course, looking for a new job, or finding a new home.
Now that the New Year has come and gone, it's time to start thinking about how you are going to improve yourself in 2017. Maybe you want to return to a regular gym habit or start eating healthier, but have you considered making a commitment to improving your finances first?
Last year, regulators announced the Client Relationship Model - Version 2 (CRM2), which included a key requirement that financial advisors explicitly disclose all investment fees charged to clients. The regulation, which went into force in July 2016, is required to be implemented by all financial advisors by January 2017.
2016 was a year shaped by surprises and drastic changes in sentiment. How investors feel about the economy is what’s reflected in prices. While major equity markets had a generally positive 2016 – driven by strong US economic data and improving conditions in Europe – there was a lot of global negativity for equities going into the year, fueled by China’s slowing economy, dropping oil prices, and geo-political uncertainty. Investors had more cash parked on the sidelines than ever before. However, major equity markets had a positive 2016 climbing the walls of worry, mainly driven by strong economic data out of the US (jobs, in particular) and improving economic conditions in Europe.
We’re just days away from a new year, and we’re looking forward to everything 2017 has to offer. As we approach the end of 2016 and reflect on the past year, we’re looking back on our blog and some of our most popular posts, top news stories, and the biggest trends of 2016.