As you approach retirement it's important to explore your options, health-care concerns, and get the best advice to successfully transition into those golden years. Learn how to prepare for retirement and navigate your Social Security benefits. We're here to help.
With school out and summer in full swing, many families are starting to travel and enjoy their vacations. In today's ever-connected world, staying connected while traveling is easy, but this constant connectivity can also make you more vulnerable to cybersecurity risks. Whether you're traveling for work or pleasure, it's important to take precautions to ensure your trip remains cyber secure. Here are some quick tips to help you protect your personal information and devices while on the go.
By following these simple steps, you can significantly enhance your cybersecurity and ensure your trips are memorable for the right reasons.
Have you ever noticed when you turn on the news, the media is either panicked because the markets are down or celebratory because the markets are up? This may make for fun entertainment, but it can also impact people’s emotions, which are dangerous when they affect investment choices and financial decisions.
While you shouldn’t hide your head in the sand when it comes to the news, there’s a fine balance between staying up-to-date and obsessively following every market change.
The Problem with the News
Many people think watching the news will help them decide what financial or investment decisions to make. The problem with this is that the news is late, especially in terms of investing.
Capital markets efficiently price in all widely known information. As soon as news is available to the public, it becomes reflected in share prices. Therefore, looking at the same things as everyone else doesn’t give you a leg-up on other investors.
Additionally, we know that most news stations have a bias or slant. Many major networks tend to lean either right or left, and this can actually impact the type of actions they suggest in terms of financial decisions. Furthermore, when their guest is the head of a bank or works for a credit card company, you’ll want to be aware that their advice may be biased.
The Information to Turn to Instead
One of the best solutions is to ignore the pundits and spend more time sticking to your personal financial strategies and investment plan. It may sound crazy for me to suggest this, but I’ve found that it helps my clients feel less stressed and less likely to make emotionally driven decisions.
It takes training to tune out the media noise levels and focus on your long term plan. It is tough to do, but with a little coaching, you can feel less stress from media influence and more focused on your plan.
Let Your Advisor Do the Heavy Lifting
While working with a financial advisor is a collaborative approach, requiring work on both ends, it can be helpful to rely on your advisor for staying up-to-date on financial news and investment trends. Part of an advisor’s job is to stay current with financial news and changes in the markets. Your advisor will then suggest changes, if needed, based on your personal goals and needs.
Stick to Financial Wellness Tips
While listening to the news and recommendations of pundits can lead to emotional decision-making, reading general articles and blogs about financial health and wellness can be beneficial, and even motivating. There are hundreds, if not thousands, of blogs out there that share tips on sticking to a budget, savvy ways to save money at the grocery store, and how to find the best credit card rates. These sources of information can help you maintain a healthy outlook regarding money and keep you motivated to stick to your financial goals.
How I Can Help
As an independent advisor, my personal goal is to provide my clients with guidance that can help them understand and better define their financial goals. I stay up-to-date with the latest financial news, trends, and market shifts so my clients don’t have to. I hope to allow them the time to focus on their passions in life knowing I am here proactively monitoring their investments and financial strategies.
To learn more about how I can help you focus less on media noise and more on your passions in life, contact me for a no-strings-attached meeting. We can discuss your goals what strategies can help you pursue them. Call my office at (949) 221-8105 x 2128, or email me at michael.loo@lpl.com.
