WSFS Wealth Investments Articles
For many Americans the thought of early retirement can be very appealing. For those that enjoy their career, having the flexibility to spend more time with family, travel, play golf or enjoy other activities during “normal’ work hours can lead workers to contemplate early retirement.
During the teenage years, lots of exciting things happen in life like getting your first job and earning money; this time is an opportune time to coach and guide children on the importance of saving and the best ways to save. It is also never too early to begin discussing retirement with teens. Many companies allow part-time workers to contribute to their employer sponsored 401(k) program.
Many of us are familiar with using a map to reach an unknown destination or following directions to assemble an item, think furniture from a certain Swedish store. Without the map, we’d have a tough time finding our destination and without the directions we’d have an even more challenging time assembling the furniture.
Everyone has different financial needs, and proper planning is a critical step to ensure you are on track to meet your goals. When we are young, life seems simple, but as we age our lives become more complex and this requires more planning. When you meet with a financial advisor, it is important for the advisor to understand every component of your life. During a portfolio review meeting, you and your advisor should cover these five topics.
It’s that time of year! Tax season is quickly approaching and though some may dread having to complete their 2020 returns, many look forward to receiving a refund. This begs the question “what should I do with my refund if I get one?” Though the first instinct might be to buy that shiny item you’ve had your eye on or take a lavish vacation (who wouldn’t want to get away for a week or two after the year we’ve had?), but prudence and intention should be front and center of our decision-making.
The stock market moves fast on ordinary days. But during extremes, stock market declines can feel like terminal velocity implosions. To any normal human being these events can be terrifying. However as intimidating as they can be, severe stock market volatility episodes can lead to some of the best opportunities to create wealth for long term investors who have the audacity to overcome their fear.
It starts with you. With retirement a mere five to ten years away, many Americans will start to panic thinking (perhaps appropriately) that they are not on track to retire comfortably. In the decade that I have been an advisor, I’ve seen many unique stories that all share a common thread – the desire to live life to its fullest through the choices we make, the things we own and do, and the people most important to us. Having said this, I will share a few words that surround these concepts which willhelp propel you to the most successful retirement possible.
Investing should be viewed as a lifelong process. The earlier you get started, the better off you’ll be in the long run. Whether its saving for retirement, a new house, or college tuition, most of us will need to develop a disciplined savings strategy. The easiest way to accomplish this is by making regular contributions to a savings or investment account.