With the recent volatility in the stock markets, it is a good time for investors to review their risk tolerance. A formal risk assessment can provide valuable information that investors can use to form a baseline from which to make financial decisions, even amid market fluctuations and changes in life and work.1 While no specific risk level is better than another, it is important to understand where you fall on the risk spectrum so you can apply that information toward your financial planning and investment strategies. Are you unsure of your risk tolerance? Asking for a formal risk assessment from your financial advisor is a great place to start.
More often than not, women with families take the lead when it comes to running their households and focusing on tasks such as home upkeep, managing schedules and children, and tracking bills and sending payments. However, studies reveal that many women with families are less involved when it comes to making longer-term financial plans within their family setting.
You work hard every day, giving a significant amount of your time, energy and commitment to your professional life. In the end you want your hard work to pay off, don’t you? Developing a long-term financial plan as part of your investment strategy is crucial to securing that payoff. Financial planning is important for everyone, not just for people of a certain age or income bracket, and it’s evolved in the 21st century.
U.S. college costs are rising but so are the numbers of students attending colleges and universities. Research shows that there are long-term benefits of obtaining a higher education for the student and society at large including: expanded job opportunities, increased public engagement, a diverse array of cultural enrichment experiences and scientific advances, prolonged national prosperity and sustained personal financial security. With those factors in mind, it’s never too early – or too late – to start building a solid foundation for your child’s college years.
Harris Financial’s own Cristin Rigg recently published an article in the Torrance Memorial Patrons Magazine. Taking Inventory At Each Stage Of Life gives direction for maintaining our goals for financial and physical health at each phase of life.
We hope you will enjoy reading this blog at https://www.torrancememorial.org/News_Center/2018/September/Taking_Inventory_at_Each_Stage_of_Life.aspx.
You can also find the article in the next Patrons Magazine releasing on September 26, 2018.