On August 1st, Nancy Doyle was a guest on WGN Radio Wintrust Business Lunch. The topic was how millennials can save a million dollars. It is important to start early and be consistent. Save and invest every year. You also must be disciplined. Once you invest that money, you cannot touch it. Last, use reasonable assumptions for annual investment returns, or what you expect to earn on your money every year. Note – the segment begins at 23:45. WGN Radio Wintrust Business Lunch
Millennials, Rethink Your Approach To Retirement Planning
US News recently quoted me in a post that helps Millennials rethink their approach to retirement planning. For Millennial’s, retirement can seem a long way off. It is never too early to start planning. The idea of saving $1 million for retirement can seem like a lofty goal, but it is attainable if you are disciplined. It is also important to use realistic assumptions for returns and keep fees low. See full post below.
Financial Tip: Prioritize Building an Emergency Fund
I was recently quoted in a blog published by US News on the importance of establishing an Emergency Fund. Investing your money starts with establishing your savings goals. Revisiting your savings goals is a great resolution for 2017. Prioritize your savings goals based on the different time horizons — near-term, long-term, and intermediate-term. Establishing an emergency fund should be a top near-term goal.
Financial Jargon – You Asked…
Question: What does “sell in May and go away” mean? Answer: The stock market has not performed well sometimes during the summer months. Some have suggested that you should sell all of your stocks in May and buy them back after Labor Day. This is not a good idea, however. You should not try to time the stock market. Plus, you could generate capital gains.
Save and Invest
Invest Your Money is one of the four pillars in managing your financial life. The others are Get Organized, Analyze Finances, and Educate Yourself About Investing. The following is a collection of posts that include important guidelines to follow. Please keep checking back as this list is constantly growing!