How do you want money to define you? It’s a difficult, but important question.
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.
If there is one silver lining of a crisis, it is the reorienting effect that reminds us of what matters most in life – our loved ones and our health. A crisis can also serve as a reminder of what we should do to protect them.
For many of us, the hope is to glide into retirement sometime in our early to mid-60s. After 40-plus years of hard work, it’s time to enjoy the fruits of our labor – on our own terms. Except when things outside of our control derail those well-laid plans. Instead of a gradual transition, we get a forced retirement.
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.
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.
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.