Is the Corona Virus and Market Volatility tempting you to “Do Something”?
It is not easy listening to the news the last couple of weeks and watching the large swings in the Stock Market. Obviously, the Financial Markets don’t like bad news. Does all of this make you want to “do something”? What is the right move?
To help you understand how the Corona Virus may impact you financially it can be helpful to look at other past events. Vanguard Group put out a paper discussing this point and in the video I talk about this data along with my experience in other major market moving events. While not exact parallels, looking at the SARS coronavirus in 2003 and the Zika Virus in 2016 may provide some helpful lessons for what we are facing today. Learn how this impacted investors who sold on bad news during these events and the impact of missing the subsequent rebound that occured shortly after each of these events.
We then discuss how we help clients manage their investments fearlessly as we try to help you understand some Portfolio Math. See if you are right about the ending portfolio value if you have $100,000.00 invested in Year 1 and your Portfolio goes up 50%, but in year 2 your portfolio goes down 50%. How much is your portfolio worth?
Once you have watched the video learn more about our invest process by visiting this page on our website:
Budgeting might seem overwhelming at first, but hear this: You can do it. How? By breaking down the process a bit.
What Is a Budget?
Real quick though, let’s define the word budget. A budget is just a plan. It’s not a restriction on spending—it’s a plan for what you’ll do with your money. It’s a plan for what’s coming in and what’s going out.
When you learn how to make a budget—and do it every month—you’re giving your money purpose. You’re taking control. Goodbye, money anxiety. Hello, money goals. Learn the 7 Baby Step Process
Small companies shouldn’t forgo retirement savings just because a 401(k) plan can be expensive to set up and maintain. There are options specifically for smaller businesses: a Savings Incentive Match Plan for Employees (SIMPLE) plan, a Simplified Employee Pension (SEP) plan, and a SOLO 401 (k).
“How do I get my money out of my retirement plan and into my checking account?”
The question is not as simple as it appears – that’s why people ask it. They’re not asking about the mechanics of a 401(k) withdrawal. They want to understand the switch from saving to spending, and it’s an entire cascade of questions covering how to decumulate assets in retirement. These include:
• When should I take social security?
• How can I ensure I’ll have enough income for my needs?
• How can I invest for growth without taking too much risk?
• What about taxes?
At University Financial Strategies our mission is to help families think beyond just saving for college, but helping leverage strategies that leverage your unique situation to help you save on college costs. We take into consideration topics like specialized college-planning strategies for business owners, planning for financial aid, school-specific scholarships, coordinating college planning with grandparents, cash-flow strategies and options for covering shortfalls, to name just a few.
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