When planning for your sunset years, the premise is that you want to secure your financial future beyond your healthy, productive years. However, you need to have a retirement plan, to begin with.
When planning for your sunset years, the premise is that you want to secure your financial future beyond your healthy, productive years. However, you need to have a retirement plan, to begin with.
If you think you’ll never be rich, trust me, you are not alone! According to several financial experts around the globe, millions of potential millionaires might be on the top of the wealth if they change their mindset and a few bad habits.
When is the best time to hire a financial advisor? That is the most frequently asked questions we often received. The truth is, there is never a bad time to hire a financial advisor because a financial advisor can help you with any of your financial goals, at any stage of your life. However, there are specific questions and times in your life when they are uniquely positioned to help you with their expertise.
Everyone wants to build their wealth and be financially stable to achieve success as well as peace of mind. However, wealth protection and growth requires a thorough financial plan.
Warren Buffett who owns net asset of $88 billion (Forbes magazine, 17th March, 2018), is the third wealthiest person in the world, however, he was not exactly born with a silver spoon in his mouth. His father was a securities company broker, so he was in fact brought up in a background of privilege. However, this fortunate background did not matter. What made him one of the richest men was himself. He built his own wealth.
A research conducted by Charles Schwab among 1,000 Americans aged between 21 to 75 reveals that it takes $1.4 million to be considered financially comfortable in America today. To be considered truly “wealthy,” that number increases to $2.4 million.
Professionals in the investment industry talk about risk – a lot. Risk and return are inseparably linked, meaning that higher risk brings the potential for higher returns, and vice versa. You cannot expect the same type of performance from a low risk asset (like cash) and a higher risk asset (like equities).
What is Robo-advisors?
Robo advisors are automated investment platforms that use algorithms to manage and allocate investor’s funds. These services analyse each customer’s current financial status, risk aversion, and goals. From here, they recommend the best portfolio of stocks available based on that data.
It’s hard to put a number on “wealth” because it’s personal and it depends on many factors, including where you live. Generally, having wealth means not having to worry about being able to pay your bills and knowing a comfortable retirement at a decent age is feasible.
