This is a re-run of a TGIF 2 Minutes article that appeared in May 2018, with a few updates.
The following are from a recent article in the Journal of Financial Planning* – and they are not snoozers! In fact, several truly surprised me. Check ’em out. All from formal surveys.
It is nearing year-end and I cannot emphasize enough how important it is to double-check certain items NOW. The best financial advisers can and should be drawing your attention to these items in order to make your year-end easier and less stressful.
Here is a list of questions I review annually with clients:
If it is “TGIF” that is a good thing. Let’s have a little fun here.
What is your current mindset, financially?
If that is a difficult question to answer right way – or even if not – check out a useful tool: “The Retirement Mindset Scorecard.” Even if retirement is not your primary concern today, the Scorecard is still relevant and helpful!
There are 8 categories to Financial Mindset, as we see it:
Thank you to my friend and loyal reader, Bob, for the title of today’s edition. The idea of “reflection” came up last weekend while I was enjoying time in a wonderful Southern beach town where the restaurants and bars were full, the sidewalks hopping with people of all ages, the lovely (large) homes newly built or renovated, people enjoying relaxing time on the beach – even the dogs’ tails were wagging with joy! Times are GOOD in lots of places!
These things are what we live for. These things also take planning and discipline – because good times come in cycles. Nearly everyone with whom I spent my weekend is engaged in a different and exciting line of work: from real estate finance, to “retired”, to the medical profession (both human and animal), to start-up tech… to owning or having sold their own businesses. Conversations were around “what’s next?” in terms of work, homes, vacations, kids’ camp, and kids’ college. Continue reading “Reflections From the Beach”
AS IF we need to hear any further “noise” about the debate in Washington, DC regarding tax policy. There is a basic silver lining (or two) to the discussion worth pointing out. First, a quick review of the big-picture elements in the limelight:
Might I offer TWO “silver linings” to this prolonged, politically entrenched back-and-forth on tax policy:
Under the topic of “Give me service”, it is nearing year-end and I cannot emphasize enough how important it is to double-check certain items NOW. A great financial adviser (especially an experienced CFP®) can be of service in opening your eyes to certain items making year-end easier and less stressful for you. By the way, for those of you reading this who are not my clients and you have not been asked these by your adviser, then your adviser is not doing his or her job.
Have you asked yourself lately…
Although I stress to clients and friends NOT to listen to the Talking Heads on TV, radio & internet—and then make rash investment decisions – when these media personalities comment on dramatic market moves (they LOVE down markets for hype), we are human! It is nearly impossible to ignore completely what is going on daily in the markets. And the stock markets have crept down a bit over the past few weeks. Continue reading “Gut Check in Rocky Markets”
