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From CEOs to athletes, most people striving for a certain level of performance are constantly assessing where they are and where they want to be. Regularly checking in helps them decide if they’re effectively using all their resources.
In our client meetings, the term “wealth” is often tossed around somewhat loosely. We talk about building wealth, managing wealth, enhancing wealth, and preserving wealth as if the concepts are universally understood. But what exactly is wealth? It’s such a vague term that every person has a slightly different meaning.
There was a time when old retirement planning models like “the 70 percent rule” were more common. This rule stated that a retiree only needed 70% of their pre-retirement income to live comfortably in retirement. These “rules” may have worked for some retirees several decades ago but can be dangerously flawed in today’s new normal retirement.
Your 20s are often seen as a true coming of age when financial responsibility opens up the possibility of turning your dreams into reality. You’re settling into life after university, paying off debts, and starting to really define who you are as a person. But with bills, rent, keeping up social appearances, and other pressures, financial planning is often pushed to the side.
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If you’ve had to reconsider or drastically change your spending and saving habits because of the current economic environment, you’re not alone. But there may be an opportunity in this current market to teach good financial habits to your teenagers; ones that they can carry into adulthood.
The recent stock market volatility, the bear market, the ever-growing inflation rate, and ongoing supply issues have taken a severe toll on the American psyche. For some, it has forever altered how they perceive and manage risk.
Understanding your risk tolerance is considered one of the most important elements of investing.
It can be tempting to have extreme thoughts when it comes to investing. After all, public markets can increase or decrease by as much as several percentage points per day! Yet, be sure to keep calm and follow your financial plan.
If anything good has come from the last few years of uncertainty and volatility, it’s that many of us are becoming more financially literate. We’re more aware of our finances and are better at prioritizing our expenditures. We’re also more aware of how important it is to save for the future, while still enjoying the present moment.
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As a young parent looking to the future, you may be faced with a daunting choice: do you save earnestly to secure your retirement, or save to fund your children’s education?
Walking across the stage and receiving your college degree can be the first step toward adulthood. Gone is the structure of education, replaced by the uncertainty of finding your first professional career.
But one thing that is often certain after graduation is student loan debt.
Securities and Advisory Services are offered through United Planners Financial Services, member FINRA/SIPC. Nichols Financial, Inc. and United Planners are independent companies. Generational Wealth Group and and United Planners are independent companies.
Eric Nichols is registered to conduct securities business in Arizona (AZ), California (CA), Colorado (CO), Florida (FL), Georgia (GA), Idaho (ID), Iowa (IA), Kansas (KS), Maryland (MD), Massachusetts (MA), Michigan (MI), Missouri (MO), North Carolina (NC), Ohio (OH), South Carolina (SC), Texas (TX), Vermont (VT), Virginia (VA), and West Virginia (WV). This communication is strictly intended for individuals residing in the states listed. No offers may be made or accepted from outside the specific states referenced.
Insurance-related services may not be provided to individuals residing in any states other than Michigan (MI) and Ohio (OH).
Michael T. Zurek is registered to conduct securities business in Michigan (MI) and Ohio (OH). This communication is strictly intended for individuals residing in the states listed. No offers may be made or accepted from outside the specific states referenced.
Insurance-related services may not be provided to individuals residing in any states other than Florida (FL), Michigan (MI), Ohio (OH), and Wisconsin (WI).
A broker-dealer, investment advisor, BD agent, or IA representative may only transact business in a state if first registered appropriately. Follow-up or individualized responses to persons in a state by such a firm or individual that involve either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made without first complying with appropriate registration requirements.
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