The Financial Planning Blog
Your go-to financial planning and wealth management resource, whether you're just getting started or well on your way to a financially secure future.
Have your investment results been generally expected, better than expected or worse than expected? Chances are the answer depends on how realistic your expectations were in the first place. If they’re unrealistic from the outset, you’re bound to feel disappointment and concern over your portfolio outcomes. This is not an uncommon experience for people who get caught up in the chaos of the Investors’ Dilemma, but with the right mindset, you can manage your expectations much more effectively.
As an investor, you may have a hamster wheel of thoughts, goals and concerns swirling through your mind from day to day: Am I getting high enough returns? Will I be able to retire comfortably, pay for my kids’ ongoing education and care for loved ones? Am I prepared for the next market crash or market boom? Am I missing out on the latest stock tips or getting bad investment advice? These are incredibly common and valid worries, but they can negatively impact both your investment outcomes and your peace of mind.
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Greg Hammond golfed in the Joe Martin ALS Foundation Golf Tournament in Charlotte, NC to support families touched by Lou Gehrig’s Disease (ALS) in honor of our late client, Bernie Martinelli.
Greg Hammond, CFP®, CPA enjoyed a surprise after he ran the Hartford Half Marathon with the CT Children’s Medical Center team on Saturday, October 13.
If you haven’t spent your life studying investing, you may not have a complete picture of all the costs associated with trading. In fact, these numbers are probably much higher than you think, with potential hidden costs of up to 5% of your portfolio every year. Between the explicit and implicit costs involved in every investment, it’s important to gain a complete understanding of these expenses. Ultimately, controlling your costs could make the difference between investment failure and success over the long term.
Throughout our childhood and early adulthood, we all subconsciously adopt beliefs, stories, attitudes and assumptions about money. These inner thoughts become our reality, and though we may not recognize it, they heavily influence many of our financial decisions throughout life. We often unknowingly make, spend and save money based on these internalized ideas, even when doing so may not serve us well. The good news? In a very specific way, we can recognize and overcome those money beliefs that hinder our ability to achieve financial goals.