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.
Now that Labor Day’s passed, summer is officially over and it’s time to head back to school. But it’s not all for the kids sometimes. We’re big on education funding around Merino Wealth so this time of year can be really exciting as we see clients move forward with the goals we’ve been planning for. One thing I’ve noticed is that many of our clients hitting 10-15 years in the workforce are making moves. It’s like we hit this point where we look back at our hard work and decide we want more. In some cases, that means going back to school to earn an advanced degree. It could mean changing industries or positions. At times, it includes taking a break from work to travel or spend time with family. In extreme cases, it may involve starting your own financial planning firm in a large metropolitan area.