There have been several different dynamics we have observed, and of which we have lived, over the last 20 years since North Main Financial Group has been in business. We had the Internet boom, and then bubble, and then the bursting of the bubble at the end of the 1990s and into the early 2000s. We then had what some would describe as a real estate bubble happening from 2005 to about 2007.
A lot has changed in the financial world over the last 25 years. Each era is very distinct when it comes to fashion trends, music, food choices, etc. That leads us to the topic of this blog: politics, and finance. Yes, these are two of the three taboo topics, but as we enter into the throes of a Presidential election season, many questions arise.
As we come to the end of the calendar year, we get busy baking, wrapping gifts, hanging lights, and celebrating with family and friends. However, this also provides a natural time to review your financial plans and give yourself a financial checkup if you will. While it may not be the kind of thing that tops your “to do” list, it is important.
I’ve been in this business for over 20 years and while there have been some good times, there have also been some rough patches. If you lived through the turmoil of 2008 – 2009 you know what I’m talking about. One thing that has been true is that there are no guarantees. In life or in the financial services industry.
Halloween is right around the corner, so it seemed fitting that we talk about pumpkins and planning. I know, it seems a little silly but quite seriously there are some significant crossover points between pumpkins and the fall season. And just like a pumpkin, finances need cultivation to see growth. It takes time and attention to reach your goals but in the end, it’s worth it.
Fall happens to be one of my favorite times of the year. The heat of the summer is finally starting to subside and of course, it’s the beginning of football season. I spend many weekends taking in college and professional football and as I watch the ups and downs of America’s game it got me thinking. From a strategic and thought process, football and finance have many parallels.
As we move through life most of us live in the now worrying about getting to work on time, what to have for dinner, what sport do the kids have after school, and the list goes on. But what happens when the unexpected happens? Most of us have been there. The loss of a job, an unexpected divorce, or the death of a loved one, these life events can really throw things into upheaval.
When it comes to financial planning there is no one-size-fits-all option. As individuals, we all have different goals and objectives based on things like kids, marriage, work, age, and a host of other variables. When sitting down with your tax and/or financial advisor, it’s important to understand your asset allocation and what types of tax-deferred accounts you may have.
What does your income look like in retirement? Will you need to work part-time? Do you want to start a new business? Do you want to travel the world? These are all questions to ask yourself when retirement planning. To retirement plan is to plan for what you want your life to look like after paid work ends and that takes on many different forms in today’s world.