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4 Pitfalls of Not Having a Financial Plan

Carson Wealth

Debt management: Develop a strategy to pay off existing debts efficiently, minimizing interest costs. Investment strategy: Determine asset allocation and investment vehicles aligned with risk tolerance and financial goals. This blog is not intended to provide specific legal, tax, or other professional advice.

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The Role of Emotional Factors in Your Decision to Hire An Advisor

WiserAdvisor

Hiring a financial advisor can provide several benefits that are essential for managing your financial well-being. The financial advisor is responsible for creating a well-diversified portfolio that generates inflation and risk-adjusted returns for the client. The market is cyclic in nature. It fluctuates often.

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Late Start on Retirement Savings? How to Try and Catch Up in Your 50s

WiserAdvisor

Without the burden of monthly mortgage payments, you can redirect those funds towards savings or investment opportunities, such as the stock market. It is important to note that carrying a mortgage into retirement is not necessarily detrimental, especially if it represents your lowest-interest debt. Need a financial advisor?

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The 15 Worst Financial Decisions And How To Recover From Them

Clever Girl Finance

How to stop delaying financial decisions: To stop delaying important financial decisions, start by breaking down the actions you need to take into smaller, manageable steps. Educate yourself about the decisions you need to make, whether it’s investing, budgeting, or debt management, so you feel more confident and empowered.

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How to Determine If Your Financial Advisor Is Doing a Good Job Each Year

WiserAdvisor

Benchmarks serve as yardsticks to measure how well your investments are performing compared to the broader market or specific indices. You can consider common stock market indices like the S&P 500 or Dow Jones. These are often cited in financial news. This can help you understand their point of view.

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Ten Steps To Creating A Solid Financial Plan For Yourself

Clever Girl Finance

Pay off debt. When you create a financial plan, be sure it includes a debt management system and how you'll pay off debt. Sadly, you can't really kick-start your financial future if you're carrying a ton of debt. Think about the reason for the investment, when you'll need the money, and what your risk tolerance is.

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Retirement Planning Tips: How Much an Average Person 65 and Older Spends Every Month

WiserAdvisor

To secure a stable financial future, you must address outstanding debts before retiring. Create a plan to pay off high-interest debts and consider consulting with a financial advisor for guidance on debt management strategies. You may react to market highs and lows.