“Buckle up, folks — we’re about to experience some heavy turbulence.”
Why do I bring this up now? Because folks, we’ve experienced some heavy market turbulence lately, and while the skies are a little calmer right now, my guess is that we have more to come before this plane lands. But I’m an experienced flyer, and let me assure you, this is no time to get panicky with your portfolios.
As a financial planner, I’ve learned over the years that there is no greater asset than that of human life. I’m reminded of that whenever I see families go from tying the knot to starting a family, from becoming empty nesters to retiring, and finally to celebrating life. We’ve been blessed to walk alongside our clients’ families during each of those steps and celebrate life’s milestones, happy and sad.
How investing a little can lead to much more.
You may remember learning about erosion in school, how a small trickle of water, over time, can wear away rocks and soil and transform into a raging river.
That image always enters my mind when I talk with young investors about how to make their money work for them early in their careers. Coming into their first jobs out of college, they probably aren’t making much income, and that’s while they’re considering student loans, saving for a first down payment on a home, and the other expenses that come from starting life on their own. Many of them feel that there just isn’t enough left over to start funding an investment account in a meaningful way.
I keep track of the many questions I receive from client families about their financial pictures, and I wanted to address two of those questions that have come up quite a bit recently regarding retirement accounts in a down market.
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