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.
One of the questions we are asked frequently at North Main Financial is how to navigate the endless increases in health insurance costs. There are a lot of variables that go in to determining that including your location, age, choice of plan, and current health condition just to name a few. It’s important to remember that everyone is different so consulting with an insurance professional can be a helpful way to identify what type of plan would work for you. Keeping that in mind, here are three considerations:
The year 2020 has thrown a lot of challenges our way. As we enter the half-way point of the year, the Presidential election will begin to heat up even more (if that’s even possible). We often receive questions about the effects a Presidential election may or may not have on a portfolio. There are a lot of ways to answer that question but here are a couple of things to think about.