How do YOU get paid? Kind of an awkward question to ask someone that you’ve just met, but this question shows up time and time again on “top questions to ask your Financial Advisor lists.” And it’s an important question to ask!
This is a really fun and exciting time around our office. After spending time with our loved ones for the holidays, we are back at work with New Year’s Resolutions and a new tax year. Through our financial planning process, it’s our goal to help clients make more comfortable and confident financial decisions. So when someone reaches out to us this January, we want to make all this money stuff easier. But what does that actually mean?
Going into 2018 I set a goal for myself to establish a retirement plan for Merino Wealth. I looked into options, received feedback from my employees, and figured out the logistics. I then decided on the type of plan, the company match, and even planned to integrate Environmental, Social and Governance (ESG) factors into the investments. While presenting at financial workshops to audiences all over Chicago, I announced this as my top 2018 goal. Wanna guess what happened next?
One of the tricky things about money is the awkwardness that comes with discussing your financial situation when things are going well. I rarely see Facebook status messages regarding every day financial achievements like “Who’s got two thumbs and is maxing out their 401(k)!? This guy.” But you know what? Maxing out your 401(k) feels GREAT.
Happy October! If it weren’t for the pumpkin spice lattes I wouldn’t believe it myself. As we find ourselves treading in waters of historical market highs and approaching the end of the year, now is the perfect time to take inventory of your investment strategies.
Since I’m in my 30s, people don’t always realize that I’ve actually had first-hand experience with our last two market crashes. First, as a young investor during the dot.com bubble. Second, as an advisor during the 2008 financial crisis. I remember September 15th of 2008 when Bank of America bought out Merrill Lynch and Lehman Brothers filed for bankruptcy. It felt like the world around me had changed in a day. I learned a lot from our last recession including a few things that may help when taking inventory of your portfolio.