A Roth IRA provides several advantages in retirement when you start to use your savings for income. Whether you should consider a Roth conversion depends on your current and expected future financial situation, but sometimes also the state of the market and the economy.
For an extraordinary high-achiever like NBA legend Michael Jordan, you could reasonably attribute his success to one of many things. His natural athleticism. His high basketball IQ. His shoes. But to His Airness himself, it was the result of a relentless mindset:
If you want the guaranteed income an annuity can offer, make sure the payout is worth the various downsides.
And now, for a look toward a better future.
We won’t know the full economic impact of the coronavirus outbreak for quite some time. With more than 30 million people out of work, we know the damage is severe. But we also know that eventually the economy will recover. Economic activity is generally cyclical. Every recession – no matter how deep – has been followed by an expansion.
Earlier this week, I received some exciting news. Forbes magazine reached out to tell me that I have earned a spot on their 2020 Top Women Advisors list.
When put in a stressful situation, it’s easy to resort to our instincts and emotions. Which can be both good and bad. Courage and patience help; fear and hastiness hurt. But what is often most effective is direct, objective information to guide us forward. This is true in all critical situations, whether it’s investing or flying a plane.
In times of uncertainty, intuition tells you to take action. While doing something, anything, may make you temporarily feel better, it’s purposeful actions that will make a difference. To find out what moves could improve your situation, it helps to ask some pointed and unemotional questions – especially when it comes to your financial life.
If you feel uncomfortable about fluctuations in the stock market, does that mean it’s time to rethink your investment risk tolerance?
Right now, you may be experiencing concern and uncertainty surrounding the coronavirus, as well as its impact on the capital markets and economy. At Advance Capital, the well-being of you and your family is our top priority, so our hearts go out to all those who have been directly affected.