As we approach the Fourth of July, a time to celebrate freedom and independence, I wanted to take a moment to reflect on the importance of safeguarding your investments amidst changing economic landscapes.
Just as we cherish our freedoms of owning our own property, the right to vote, and the ability to spend our money how we deem important, we also have the privilege and freedom to safeguard our hard-earned money and design our financial future around our hopes and dreams.
Protecting your financial future requires careful consideration and strategic planning. Here are a few thoughts to consider:
1. Celebrating Independence: When it comes to financial independence within building security for the future, each of us will have different goals for our retirement and how we want to utilize our resources. Some of us will gear towards leaving a legacy for our grandchildren and some of us may have a list of must-see destinations we want to visit. Whatever your goals are, it's important that you are working with a fiduciary advisor that refrains from a cookie-cutter approach in building investment portfolios. Your plan should be tailored to your risk tolerance, your long-term goals, and making sure your money lasts as long as you do.
2. Navigating Economic Uncertainty: In today's dynamic economic environment, uncertainties are a given. However, you do not have to ride the roller coaster of ups and downs. With this being an election year, you may be worried about market volatility. If we look at past election years, history suggests that presidential election years have tended to be positive for stocks. It could be in your benefit to ignore any short-term volatility around the election cycle and stick to your long-term plan. It's essential to have a holistic plan that takes into account all changing financial seasons.
3. Diversification and Stability: The whole goal of diversification is to create stability. Diversifying your portfolio across different asset classes and industries can help mitigate risks and enhance stability. This approach balances potential returns with prudent risk management, ensuring your investments remain resilient in various market conditions. We also believe strongly in diversifying across different time horizons, which is exactly what The Bucket Plan (R) system is all about by utilizing a three bucket system (Now, Soon and Later). It helps create a plan that mitigates risk and offers an opportunity for growth into the future.
Each of these points boils down to this: you have the freedom to make sure your money is doing exactly what it is supposed to be doing, and your plan is taking into consideration taxes, longevity, inflation and risk. A solid plan provides a design on how to navigate through each stage of life.
As the owner of Evergreen Wealth, my top goal for all of my clients is to feel 100% confidence in their financial future. No matter what curveball life might bring, they have a plan that faces each turn or dip in the road.
I want the same for you.
To learn more about The Bucket Plan, click here to find out how you can receive your free copy of this best-selling retirement book.