This is going to sound self-evident or obvious, but most people don’t understand it. The point I want to make is this: There’s a difference between investment returns and investor returns… and only one of them matters. Let me explain.
The only goals that matter when it comes to your money are your goals. Not anyone else’s. So… what are your goals?
What are you grateful for as you review your year? The end of 2022 is approaching. Many of us will be happy to wish this year goodbye. Year end is a also a good time to review your finances. This year's uncertainty withstanding, there are several tax advantages we can take advantage of now, before they go away or are decreased.
Awareness is defined as "a state or condition of having knowledge or consciousness of a situation or fact." Given this definition, it would seem clear that we are each aware of how our choices impact our life situations.
In life, the unexpected is expected. Having the appropriate financial safeguards in place can enable you to be resilient in the face of uncertainty.
It feels to many of us like a particularly uncertain period of time, doesn't it? After a long period of relative calm, market volatility has picked up. The 24/7 news flow has us all exhausted and anxious. What can we do to regain security and a sense of control over our lives? Relax. Nothing is under control. Ironically, the only way to regain a sense of equanimity towards our lives, and to the news flow that surrounds us, is to recognize that we have never been in control. Ever. Certainty is a myth we have created. It does not otherwise exist. Now, I'm not saying that there is no role for planning in our lives. I work as a financial planner after all! I structure investment portfolios to better weather market volatility, and make sure that my clients make crucial year end spending, saving and investing decisions. These are all geared toward living a meaningful life. But a financial plan is not a "one and done" event. The one certainty of a financial plan is that it will evolve and change over the years, as will the lives of the clients I created it for.