Filed under: Financial Planning, Economy, Financial, News
June 30, 2009 • 9:30 am 0
Update on our economy and suggested planning
One important thing regarding our economy is, saving money is always a critical thing. To have the money to take advantage of opportunities, emergencies, avoiding debt, is a very good thing! How to save is being very diversified and not putting your eggs in one basket. I had a client for the last 3 to 4 years, decide to not fund their retirement savings, IE 401k, IRA’s, Roth IRA’s so that they would have cash flow to just buy and sell real estate and be landlords as need be. As they found out, the real estate market went down, houses sold took a lot longer, and rental market changed as well. They have now decided that was not the best plan to go all in one investment, and are now going back to spreading out their risk. Good information for us all. The market can be a good place long term to make a reasonable profit for the risk taken. However, planning for retirement needs to be well thought out and positioning our assets 5-10 yrs out before retirement is very important to have those assets when we need them.
Filed under: Economy, Financial Planning
