Where most of us see this as a time for self-sacrificing unity, others see it as a time for financial opportunity. While people around the world are staying at home to counter the coronavirus (COVID-19) pandemic, fraudsters are staying busy preying on people’s fears.
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.
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.
Unless you happen to live under a rock with no cell signal, your brain processes an extraordinary amount of information every day.
Business transactions can feel uncomfortable when there is an imbalance of knowledge between you and the person providing the product or service. If you know nothing about cars, you can’t help but feel suspicious when a mechanic recommends unexpected repairs. Unfortunately, some people try to take advantage of that discrepancy to enrich themselves at your expense.
Debt is as American as apple pie, found in households of all shapes, sizes and incomes. It is a part the financial lives of both the rich and poor as well as the working and retired. Given debt’s many harmful effects, what can you do to best manage it? The answer may lie in understanding what propels you to borrow in the first place.
Something we emphasize when meeting with new clients is that their financial plan is dynamic. The goal is to continuously work toward or preserve the life you want. So, it changes as market conditions, government policy, economic factors and personal financial conditions make it necessary to change. It changes as your life changes. In other words, it is never perfect.
As we enter 2020, we would like to start off the new year by expressing our gratitude to everyone who has enjoyed Advance Capital’s Financial Living Blog. It was one of our best years yet, with well over 100,000 readers. Without the support of readers like you, none of this would be possible.