Skip to main content

Sound Advice: August 28, 2024

What Can A Good Financial Adviser Do For You?

A good financial adviser can offer a range of services tailored to your individual needs and goals. Here are some key things they can help with:

1.     Financial Planning: They can create a comprehensive financial plan that covers budgeting, saving, and managing debt. This plan will help you understand how to manage your money in the short and long term.

2.     Investment Strategies: They can provide advice on investment options that align with your time horizon, investment experience, risk tolerance and need for current income. This includes recommending asset allocation (stocks, bonds, etc.) and specific investments for each asset class.

3.     Retirement Planning: They can help you set retirement goals and develop a strategy to achieve them, including choosing the right retirement accounts and estimating how much you need to save.

4.     Tax Planning: They can offer strategies to minimize your tax liability and make sure you’re taking advantage of available deductions and credits.

5.     Estate Planning: They can assist with planning how your assets will be distributed after your death, including creating wills, trusts, and other estate planning documents.

6.     Insurance Needs: They can evaluate your insurance needs and recommend appropriate coverage for life, health, disability, and other types of insurance.

7.     Debt Management: They can help you develop a plan to manage and reduce your debt, including strategies for paying off high-interest debt and consolidating loans.

8.     Education Planning: They can assist in planning for education expenses, whether for yourself or your children, including choosing the right savings plans or investment accounts.

9.     Regular Reviews: They offer ongoing reviews of your financial plan and investment portfolio to ensure they remain aligned with your goals and are adjusted as needed.

10. Behavioral Guidance: They can help you stay disciplined and make rational financial decisions, especially during market volatility or significant life changes.

Essentially, a good financial adviser helps you navigate complex financial decisions, optimize your financial situation, and work toward achieving your financial goals.

N. Russell Wayne

Weston, CT

Any questions: please contact me at nrwayne@soundasset.com

203-895-8877

www.soundasset.blogspot.com

Comments

Post a Comment

Popular posts from this blog

Sound Advice: January 3, 2025

2025 Market Forecasts: Stupidity Taken To An Extreme   If you know anything about stock market performance, you can only gag at the nonsense “esteemed forecasters” are now putting forth about the prospective path of stocks in the year ahead.   Our cousins in the UK would call this rubbish.   I would not be as kind. Leading the Ship of Fools is the forecast from the Chief Investment Strategist at Oppenheimer who is looking for a year-end 2025 level for the Standard & Poor’s Index of 7,100, a whopping 21% increase from the most recent standing.   Indeed, most of these folks are looking for double-digit gains.   Only two expect stocks to weaken. In the last 30 years, the market has risen by more than 20% only 15 times.   The exceptional span during that time was 1996-1999, which accounted for four of those jumps.   What followed in 2000 through 2002 was the polar opposite: 2000:      -9.1% 2001:     -11.9% ...
Post a Comment
Read more

Sound Advice: March 10, 2021

The ABCs of Stock Picking After decades of analyzing stocks (and funds) and investing for clients, I'm happy to share in plain English what's involved, what works, and what doesn't.  Keep in mind the reality that successful stock picking is an effort to maintain a good batting average. In baseball, a batting average of .300 or better is considered quite good.  With stock picking, you need to do better than .600, which means you have many more winners than losers. No one gets it right all of the time.  It's not even close.  Wall Street shops all have their recommended lists and the financial media regularly hawk 10 stocks to buy now. Following that road usually is a direct route to disaster.  Don't be tempted. Let's begin with the big picture: The stock market goes up and down over time, but the long-term trend is up.  When there's a rally under way, everyone feels like a genius.  When the market hits an air pocket, though, with few exception...
Post a Comment
Read more

Sound Advice: June 17, 2020

Rock and a Hard Place Regardless of your age, impressions from childhood linger.  As the first days of summer approach, we all remember the feeling that accompanied the end of a school year.  Yet as much as many of us would like to believe we again have the summertime freedom to do as we wish, the reality is quite the opposite. Although months of confinement and limitations on social interaction have increased our personal discomfort and severely impacted the business community, our current situation is not analogous to the end of any school year.  It’s quite the opposite. There is every reason to continue wearing face masks, social distancing, and avoiding close contact with others.  Nothing suggests that we can modify our behavior significantly or resume patterns of daily living we enjoyed only a few months ago. There are no meaningful advances in medical treatments.  At best, there are attempts to combine different approaches...
Post a Comment
Read more