We tend to make financial mistakes but those mistakes differ by age. In my firm, we work with all of our clients to manage through the challenges that exist as they get older. Here’s a look at what I see people doing wrong and how you can do better. Every new stage of life brings new financial strategies we need to adopt.
When I chat with family and friends, I’m struck when people haven’t heard of an app, product, or service that I find indispensable. Below is a list of apps, websites, products and things I find beautiful, useful, or even a bit magical that I wish someone had told me about a long time ago.
The Wall Street Journal had a story recently that highlights the dominance of U.S. stocks over the rest of the world in the past few years: Since 2012 alone, the U.S. share of global stock market capitalization has risen from roughly 35% to just over 40% of the total. U.S. stocks have killed international markets throughout this cycle.
After a brief pause during inauguration week, stocks continued to climb last week. The S&P 500 added 1.03%, the NASDAQ was up 1.90%, and the MSCI EAFE increased by 1.29%. The Dow also grew, adding 1.34%, ending the week above while hitting 20,000 for the first time ever.
After some strong activity after the elections, the last few weeks the market has more or less tread water. The Dow ran into 20,000 and could go no further. I wouldn't be shocked to see some minor pullbacks over the next few weeks, but I am not anticipating anything too significant. This is a key moment for the economy.
For some a car is simply a means of getting from point A to point B. For others it’s a status symbol. Cars are a hobby, a passion, for some and necessity for others, but whatever the level affinity toward automobiles there comes a time where just about everyone needs to start shopping for a new (or used) one. But, don’t run down to the local dealership just yet.
Unquestionably, disability insurance is more complicated than other forms of insurance. There are a lot of moving parts to understand in order to create the right kind of coverage, which may be one reason why many people are reluctant to look into it.
The funeral is over. Your family and friends have left, returning to their day-to-day routines. The world has slowly started turning again. Amid the pain of losing your spouse, you must find a way to carry on even though your world has been turned upside down. Many of the decisions that you made together now rest on your shoulders alone.
It is no secret that the typical American is working long hours with little respite compared to other countries with large economies. Full-time employees report an average work week of 47 hours and four out of 10 American workers say they work over 50 hours a week.
Think back to those early days in life when it seemed like everything in the candy aisle was free if you begged your parents hard enough. Not a fleeting thought was given to the expenses of a vacation or the copay costs at the doctor. There’s something beautifully unburdened in the way which children experience the world: recklessly present and innocently ambivalent.
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