For those working towards retirement, investment options that should appreciate quickly and a diverse portfolio that distributes risk are ideal. With all of the recent hype around cryptocurrencies, some investors believe that these accounts have the potential to help satisfy both luxuries. While Bitcoin has shown significant gains in the last year, many believe that cryptocurrencies are far too volatile to be a good investment, especially as part of your retirement accounts.
On top of their volatility, cryptocurrencies are traded on unregulated online exchanges that have consistently experienced hacks and exposed investors to money-losing schemes. It’s no surprise that regulators have yet to approve low-cost digital currency funds and Google has banned cryptocurrency advertising. As these accounts continue to experience highs and lows, it’s best for investors to avoid cryptocurrency investments altogether, unless they fully understand their potential downside.
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In addition to self-care, routine doctor visits can help you maintain good health and recognize when change is needed. Much like your doctor, your financial advisor can assist you in achieving strong financial health. As you make investment choices within your retirement account, your advisor can guide you into making the right ones and revisiting those choices when necessary.
Research concludes that your investment allocation is important in reaching your goals. While many investors think they can establish retirement accounts and forget about them, it’s imperative that those accounts are reviewed as markets change over time. Count on us to help you build a plan, monitor and rebalance your investments on a regular basis.
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Much like conscious consumption can positively impact one’s physical health, a budget can benefit an investor’s financial health. As self-improvement is pursued, sustainable practices must be put in place to help maintain healthy financial habits. Building a budget through automation is one of them.
Since budgets are traditionally used to determine how and where to curb spending, they tend to require a lot of time and can make money management less enjoyable. Instead, this article suggests a better way to ensure savings habits and debt repayment: budget automation. These four steps are an investor’s guide to automating a few different financial goals:
Automated budgeting is a great tool for the modern investor. Work with your advisor to determine your financial goals, build a budget and get started automating!
Many investors spend most of their lives saving for retirement but are unsure of how to turn the capital into actual income once their career comes to an end. Here are five ways to do it:
All of these methods have pros and cons, read this article to learn more. As you prepare for or take your first step into retirement, discuss your options with your advisor to help create a plan that works best for you.
As you navigate the constantly changing world that we live in, it’s important to engage in self-reflection often. In addition to the goal of fulfillment, action should rank highly in your everyday life. By taking action personally, professionally, and financially, you may feel more purpose and benefit your wealth portfolio.
Former NFL player and current professional baseball player, Tim Tebow, has made a great life for himself by taking action. At just 30-years-old, his resume includes athlete, sports analyst, author, and philanthropist. In order to live a better life, he encourages everyone to ask themselves on a daily basis, why not today? Although it’s in our nature to hesitate before taking a leap, failure is the worst thing that can happen, and Tebow says it’s not that bad.
Taking action financially can be risky, but it can also reap great benefits. Working with your advisor to create a strong plan for your wealth decisions will help mitigate risk and bring you peace of mind.