Separating financial accounts can be a complicated subject for couples, particularly when it pertains to investment accounts. When should you combine accounts, and when should you separate them? You may be thinking it depends on your situation and personal finances. But that’s not exactly right.
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Technology has made it easy to spend all day checking our iPhones, tablets, and laptops. In fact, it’s become so accessible many of us are guilty of following stock tickers and other related streams of financial information for hours every day. How do you get anything else done, like work, or even keep a meaningful social life? And does all the information really improve your investment performance?
“When it comes to goal setting, there are often costs associated with achieving those goals,” says Mike Brodsky, MBA, a financial advisor and author of the book “Incremental Improvements: Change Your Life One Small Step at a Time.” When setting goals, we don’t often think about the costs involved in making it happen. At the beginning of a new year, we are excited to move forward with our goals and often don’t think about the financial costs associated with them.
One of the best ways to build wealth over time is to invest. However, if you want to invest, you’ll likely need the services of a broker. But this doesn’t mean you have to call someone up and have him or her actively manage your investment portfolio.
“People come to the end of the year and the beginning of a new year, with ambitious goals,” says Lauren Brouhard, Senior Vice President at Fidelity Investments. “Unfortunately, a lot of times life gets in the way.” It’s not uncommon to set New Year’s goals related to money, but we easily get derailed and lose our motivation. We talk about setting financial goals that stick.
We often think of investment goals in terms of a single investment strategy, but in truth they really require several strategies, each tailored based on the specific goal. Not all financial goals can be met with a single investment strategy. And with the New Year upon us, the one size fits all often becomes one size fits none when it comes to reaching financial goals. Here’s how to use your goals to create a successful investment strategy.
It’s that time of year again. The dreaded New Year’s resolutions, annual reviews and goal setting season. You know what I’m talking about.
With the holiday season already upon us, everyone is scurrying to make last-minute gift purchases. One idea you might not have considered is the gift of investments. Let’s examine the ins-and-outs of purchasing investments for your friends and family.
One of the most predictable events in investing is a downturn in the market. There’s no way to know when one will come, or how severe it will be, but it will come. And it will happen no matter how strong a given market seems to be. With that reality in mind — and given that the current bull market has been running without serious interruption for more than six years — this is an excellent time to prepare for it.
The holiday season is here, which means it’s time to start crossing off the gifts you need to buy for your friends and family. But what about that avid investor in your life? You can’t forget them. Or maybe you want to buy yourself a little something this year. Either way, you’re in luck!