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.
For some people, especially those new to the experience of working with a financial advisor, the prospect of meeting with a firm can be daunting and stressful. But it’s important to do so on a regular (at least annual) basis to discuss the realities of your financial outlook. With an informed approach to preparing for this meeting, you can achieve greater peace of mind and make the most of your time together. Here are four expert tips for tackling your meeting preparation and coming to the appointment with a more enlightened perspective.
Why Should You Diversify? You work hard for your money. You want your investments to grow so you can live a life of freedom from worry, fulfillment, and love. When the financial markets are up one day and down the next, investors often feel tempted to double down on what they believe performed well in the past. Historical data suggests that by diversifying globally investors can hedge against volatile market highs and lows, and reap potential long-term benefits.
Use this free workbook to gather a comprehensive list of all information pertaining to your family’s current financial picture!
The American Dream is being able to live life on your own terms. Knowing you can follow your personal calling and realize your goals offers a feeling of incredible freedom. Do you know what you’re capable of achieving? For far too many investors, the answer is no. And that translates to an investing experience riddled with confusion, stress, fear, turbulence and exhaustion. But investing peace of mind is possible, and you have the power to transform your own experience.
As we explored in our previous blog post, no one – not you, not your financially savvy friend, not your financial advisor and especially not the media gurus spouting investment tips – can predict the future. In fact, the free markets work because of (not in spite of) the fact that no one can predict the future. We also explored the underlying realities that make it possible to create wealth in a random and unpredictable environment. Now we’re taking you deeper into the discussion about the free markets so you can make smart investment decisions and gain peace of mind.
Investors who try to forecast, stock-pick, time the market or employ track record investing usually end up with dismal return rates over the long term. Why? Because markets are random and unpredictable. By understanding this unpredictability, you can actually harness the power of the financial markets to create wealth for yourself. Investing for the long term with an academic-based investment strategy based on your true purpose for money will help you support your life with the choices that inspire new possibilities, and build a future around what’s really important.
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.