As we kick off our series exploring the four challenges to building wealth, we’re taking a deep dive into lost opportunity cost. The choices we make every day affect our lives in far-reaching ways, from our diet and fitness routine to financial discipline. When you decide to do something you aren’t just choosing that option over others – you’re choosing its future over the others. How are your choices affecting your life and your future? Click the link here to read the rest:
If you’ve set up automated deposits, selected an investment mix, and have a general awareness of your overall financial status, you’re doing well. This is especially true when you consider the huge number of Americans who have under $500 in savings and don’t track their spending. Unfortunately, there’s a lot more to growing your wealth than setting up these healthy behaviors. In fact, there are four distinct challenges to building your wealth and overall financial wellness.
Alright, who rocked the boat? So it looks like, for the time being at least, the smooth sailing in the market has come to an end. Now is a great opportunity for us to talk about how we can react to the current market environment. This is really important: How we react is directly responsible for how successful we'll be. So, should we hunker down or is it time to jump off the boat? Let's start with the facts. Truth: 1) The market will always correct 2) We'll always have som
With the dip in the broad market over the past couple of weeks, it feels like prescient timing for that age-old reminder about diversification. Or, as your dad put it, not having all your eggs in one basket. I’d like to go a step further here and talk about why diversification is not just for your portfolio. In fact, if all you ever diversify is your portfolio you'll miss the forest for the trees and end up exposed to both greater levels and more types of financial risk. Wh