Treat Investment Like a Sports Competition: You Need Sacrifice, Dedication, Focus, and Time

We have said before that investing and sports have many parallels, and that is especially true when we are talking about tackling long-term investment goals.

Has the Stock Market Reached Its Bottom?

Ready for some free investment advice? Treat investing like sports.

You can enter investing with many different goals in mind, whether it is short-term gains, sustained income, or long-term retirement.

Don’t Ride the Rollercoaster 

Throughout the year, we’ve talked about the possibility of being in a recession and potential strategies for consistent investment during this time. In this article, we will discuss why it is critically important to avoid the emotional roller coaster if financial planning efforts are to succeed. 

As I have mentioned on several occasions, if I could offer one universal piece of advice to anyone reading this article and pursuing long-term financial planning objectives, it would simply be to not quit during such times.

I’ve coached park and recreation basketball for fifteen years. Over that time, I’ve come to appreciate the parallels between playing basketball and successful objective-driven investing.

This article will be the first of a four-part series that focuses on tips for successful investing. We’ll explore four tenants that govern every team I coach.

Recession Investment Goals: Secure Your Assets While Finding Income Opportunities

Are we in a recession? And if so, how should that knowledge impact your investment strategy?

Whether we are in a recession or not, it is important to note that every wealth management plan should be implemented with “guardrails” in place that are unique to the client.

Answer: Probably, But the Details Are Complex and Fascinating

You have probably been hearing a lot about the state of the economy in the mass business media, and along with that, a lot of conjecture over whether we are in a recession or not. The recession topic similarly has dominated the conversations I have had with my clients for several months.

The National Bureau of Economic Research is the only organization that is tasked with determining if we are, in fact, in a recession.

At a high level, the account is owned by one person, and a successor owner is named. Usually, these are the parents of a child, with the child being the beneficiary. However, anyone can own a 529 plan for the benefit of a child. Furthermore, any individual can contribute to the account.

529 College Saving Plans Rules

Deposits into 529 plans are considered gifts. Therefore, in 2019, any individual may make an annual gift of up to $15,000 per beneficiary ($17,000 for the year 2023).

Durable Retirement Income: What It Is and Why It’s Important

When reading about retirement income, you may see the term “durable” used. In this context, durable refers to retirement income that you can’t outlive, that the market can’t take away, and that will not erode.

Durable income can be a key part of your retirement strategy and financial planning.

Examples of durable income include Social Security and or pension income.

For the income to be “durable,” there must be guarantees that the investor can rely on for the production of that income.

How Are You Planning for Your Retirement?

Someday, we will all retire or at least slow down.