All tagged Fee-Only Financial Planning
May 2022 bring us peace, prosperity, and a whole lotta love.
And some greater certainty about what lies ahead.
You're probably seeing an endless parade of emails, listicles, and thought pieces loaded with predictions for 2022.
Will these predictions be right?
Probably some of them.
Will they be wrong?
Almost certainly.
How to assess your current investment situation whether you're 10 years away, 5 years away, or already in retirement
The 3 or 4 critical questions you need to ask yourself that will determine what you should do next (if anything)
Your level of confidence with your current investment strategy and what you can do about it
This is meant to be a helpful infographic to jog your mind of financial goal categories one could set goals within. Sometimes it’s difficult to get the ball rolling mentally, especially if long-term financial goal setting isn’t your cup of tea. Which, let’s be honest, who is setting aside their Friday nights writing down their long-term financial goals? Almost no-one.
“We owe this freedom of choice and action to those men and women in uniform who have served this nation and its interests in time of need. In particular, we are forever indebted to those who have given their lives that we might be free.” – President Reagan on Memorial Day, 1983.
Article Source: https://www.napfa.org/financial-planning/what-is-fee-only-advising
The way in which your financial planner is compensated can make all the difference in the recommendations they make for you. That’s because some advisors work under a standard that requires only that their recommendations be suitable to your particular situation. Other planners work under a fiduciary standard that requires advisors to consider what is in their client’s best interest. You may be wondering why your advisor would make a recommendation that is not in your best interest. That’s where the issue of compensation comes into play.
Professional financial advice targeted toward you, your life and your goals works much better than generalized, scattershot investing tips.
One of my core tenets of investing success when it comes retirement strategies can be summed up in the title of Jeremy Siegel’s classic book: Stocks for the Long Run. This is a great read for anyone looking to get a good dose of data on why owning a properly allocated basket of diversified equities is often wiser for the long-term investor than, say, owning a portfolio of fixed-income investments.
The second part of this three part series, is around the topic of: GOALS.
For some people this gets you really excited, and the prospect of writing goals, and thinking about the future and setting goals is a motivating and energizing experience. That’s wonderful, run with it and use this skill for setting goals to better your financial life. For many, however, the idea of goal setting is daunting or just plain dull. For some the very word “goal” causes you to feel anxious or maybe you just don’t believe in goal setting and it hard to think with any real clarity about the future.
One of the most misunderstood benefits of the Roth IRA, in short, is FLEXIBILITY.
What do I mean by flexibility. Well, in particular, most people either don’t know or are misinformed about when you can take money out of their Roth IRA free of penalties or taxes. Namely, you can take out the contributions you put into your Roth IRA at any time for any reason without penalties or taxes owed.
