Congratulations, you are now a newlywed but now you have to talk money. What does that look like? How do you merge your finances?
We always look forward to sitting with newlyweds here at North Main Financial. It’s such an honor to go through the excitement and enjoyment of that occasion with each couple. Of course, we also talk about planning. Those plans can take on several looks but most specifically, here at North Main Financial, we are looking at financial plans.
A unique item that is happening in our macro economy, in terms of its impact and the headlines it has been generating, are tariffs. We receive a lot of questions about tariffs, especially those between the U.S. and China, and how they affect our economy and individual portfolios. Well, the not so popular answer is…it depends.
A question that is on the mind of many people is, are we headed for a recession? I’m going to give an answer that may shock you at first…yes. Before you panic, the answer is always yes because our economic system works in a cycle. We will never be absolved from recessions. There is a sense that there will always be a recession out ahead of us.
Is gold or silver a good investment for your portfolio? This is a question we receive with some regularity, especially when prices are going up. The not so favorable answer is it depends. Every situation is unique so you want to reach out to your advisor, or you can reach out to us here at North Main Financial Group, to see if this is the right move for you.
Here are three things to remember:
As we work with younger clients here at North Main Financial Group on their financial planning, there is one question that comes up with frequency. What should you do in terms of combining the ideas of paying down student loan debt and saving for retirement? The answer is simple, it depends.
One of the questions we are frequently asked at North Main Financial Group is, how much do I need to save for retirement? Unfortunately, there isn’t a one-size-fits-all answer. Each person is different. When trying to determine how much you should save for retirement you need to take into account things like, career path; current savings and investments; if you have children; lifestyle; the list goes on and can be quite lengthy. Even if a person is in the same demographic as you, their answer will be different based on a whole host of variables.
In recent months, the ups and downs of the stock market might feel more like a roller coaster ride which is enough to upset anyone’s stomach. While we are all looking for those green arrows, there can be opportunity in the red arrows. In fact, when we’re going through times of extreme stock market movements we are often asked, ‘how do I invest in a down market?” There is no blanket answer to that as everyone’s situation is unique. However, here are a couple points you may want to keep in mind:
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. Mainly, how will the election affect my portfolio?
It’s a new year, fresh start…and that includes finances! When the clock strikes 12 and the calendar flips over to a new year, it’s often a fresh start for many. While there are many resolutions and goals made, the start of a new year is always an interesting time both personally and professionally. It’s not always happy and can be challenging for some but it does give us an opportunity to reflect on where we’ve been, or it may push us forward to look ahead at what the new year may bring.