08/16/2019
SMART MONEY TIP OF THE DAY:
The Inverted Yield Curve (yes it's a thing) And The One Thing You Need To Know. Are you ready?? Here it is!!!
Have a plan and stick to it. Forget about all the "noise and distractions" you get daily from the news and financial press.
That doesn't mean bury your head and hope that all will work out in the end... It rarely does. What I mean is this:
When we meet with new people, almost everyone who walks through the door brings in a pile of folders, statements, policies, loose papers, envelopes, etc. and they slide it across the table and tell us it's their financial plan. IT IS NOT... it is simply a collection of things they have acquired over the years that were a result of what they and different advisors recommended for different reasons. Things like IRA's, 401k's, insurance policies, mutual funds, bonds, annuities and more. The million dollar question is what is the plan to start tapping into these things to create the one thing that goes away when you stop working - namely your paycheck!
To be even more specific, which order from these accounts should you be withdrawing money and exactly how much money should you take from each account for each and every year into the future? When you know the answer to those questions then and only then will you know how long each account will last you and when to move from one pile of money to the next. That is a financial plan and it's goal is to do one thing.
GIVE YOU COMFORT AND ASSURANCE THAT YOU'RE NOT WINGING IT AND YOU WON'T RUN OUT OF MONEY BEFORE YOU RUN OUT OF DAYS ON THIS EARTH.
This is what we are passionate about and what we do every day. We want to do it for you because we love you, we know how much you love your family and we love adding good people to our business every day. God bless and have a great weekend!
