As an investor, it can be tempting to get caught up in daily news headlines. Consider how news about the election and COVID-19 vaccines have moved the markets over the past several weeks. But having a financial strategy can help you ignore short-term volatility and focus on your long-term vision.
As you know, investing is a process based on your goals, time horizon, and risk tolerance. Interestingly enough, it’s also a process that may help you prepare for life’s financial challenges.
For example, did you know that only 44 percent of workers have estimated how much income they would need in retirement? What’s more, only 36 percent have calculated how much money they would need to cover healthcare expenses.1
Creating a financial strategy means thinking about the bigger picture, including a variety of issues like monthly income needs, handling unexpected expenses, and preparing for healthcare costs. People who take a “do-it-yourself” approach can quickly find themselves overwhelmed by all the variables they need to consider.
If a current event or headline has caused you to reconsider your financial strategy, please give us a call. Sometimes, a newsworthy event can require a new approach. But many times, it may just be a “speed bump,” a momentary blip that’s already factored into your long-term vision.
Contact one of our wealth advisors if you have any questions or need help creating your financial strategy.
1. EBRI.org, April 23, 2020
Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
Securities offered through Avantax Investment Services℠, Member FINRA, SIPC, Investment advisory services offered through Avantax Advisory Services℠, Insurance services offered through an Avantax affiliated insurance agency.
Trade and Wire Requests: Please do not send any trade or money movement instructions via email, fax or voicemail. You must speak with a representative directly to initiate these types of transactions.
Sensitive Information: Internet email is not secure. Please do not send confidential information such as social security or account numbers to us via email. In instances where email addresses are provided, they are provided for information inquiries of non-sensitive and non-confidential nature. Since an internal email response back to you would not be secure, we will not include confidential information in an email response.
Confidentiality: This email message is confidential and intended only for the above named recipient(s). This email message is subject to review and retention requirements under the federal securities laws.