Another New Year – Brings out the prognosticators
- Some our predicting a return to Boom times and others are predicting Doom – so who do you believe?
- Studies have shown that even good forecasters are still only right 48% of the time, which means you get better odds by just flipping a coin.
So what’s a person to do?
If you cannot predict the future, you must prepare!
Example: New Mother
- Hungry – Mommy has a snack
- Messy – She has clean diapers and a change of clothes
- Spill something – there’s wet wipes
- Bored – She has some toys in her bag
- Cold – she has a jacket
- Ouchie – here’s a bandaid
This my friends is called Diversification!
- Inflation – Here’s some Real Estate
- Slow growth – these bonds pay interest every month
- Taxes to high – Municipal Bonds are tax-free
- Need future income – enjoy these stocks
- Lost your job – Thank God for Emergency savings
My job is to help you determine which tools you need and how much of each.
The amazing thing is through all the mistakes and messes our kids still grow up to become functioning individuals.
The same is true for your Investment Portfolio – There will be ups and downs, but it will still grow over time.
So let’s get you prepared for the year ahead…. It’s much better than sucking your thumb in the fetal position.