Investors are understandably nervous about their investments and their purchasing power. If you are worried about your portfolio, you’re not alone. But during stock market volatility, it’s important to keep a level head to avoid financial mistakes.
How much risk are you comfortable with? It’s not an easy question to answer. We can help.
It doesn’t seem to matter how much money you make—there’s always something to spend it on! Whether it’s home renovations, an upgraded car, retirement savings for yourself, or tuition for your children, staying on track to achieve your financial goals can often feel like a challenge. No matter how much income is generated, it’s easy for people to spend much of what they earn—76% on average!
Wallace D. Wattles, author of The Science of Getting Rich, said, “It is essential to have good tools, but it is also essential that the tools should be used in the right way.” When it comes to retirement savings tools, nothing compares to a 401(k); but are you maximizing its potential?
Beyond appreciating the amazing scenery and sense of accomplishment, this experience was full of insights that I believe can inform not only our life journeys, but our financial journeys as well. Here are four life lessons I’ve brought back from the trail.
What are the most important things in your life? I bet you’ll quickly say family or maybe health or a sense of purpose. Money likely doesn’t top the list for most people, but its importance should not be underestimated; after all, money affects every part of your life and can give you the security and stability that positively impacts the things that matter most. But because of its far-reaching impact, managing money often leads to stress and worry. That’s why a financial advisor plays one of the most prominent roles in a person’s life, forming a long-lasting relationship and providing objective counsel.
