Yes, last week the Dow Jones saw it’s biggest drop since the financial crisis in 2008 (ahhhhh!!!) but what does this actually mean for you?
1: What’s happening?
A few weeks ago, after news of the coronavirus first broke, the world markets stayed relatively stable. But last week we saw the other shoe finally drop. We experienced global market downturns in every major index in the world. One of the biggest and most well known was the Dow Jones Industrial Average. The DJIA dropped over 12% which is the biggest decline we’ve seen since the financial crisis back in 2008.
2: The Bad
Markets run off of fear and greed. Right now fear is front and center because this health pandemic was not predictable and we don’t know when it will be over. The markets price situations in before they actually occur. Supply chains that are connected through manufacturing processed in China have been cut off and could...
As we gear up for the 2020 Presidential Election, we'll see an increase in scary headlines about "What If..." scenarios depending on who could take office. This is a difficult time to know when to throw on those "Old School" earmuffs and when to take action.
There's not enough clear evidence that suggests that a Republican or Democratic President is good or bad for the U.S. Equity Markets. So what we can focus on are topics that are important to us rather than all the noise that we are inundated with way too frequently.
Credit card debt is far too common. Juggling debt along with financial goals we set for ourselves can be overwhelming. Check out this article from CNBC, it outlines actions some presidential candidates are advocating for when it comes to credit card debt!
Taking stock of your life, evaluating where you stand today is a great way to improve your health, attitude, and confidence. This is no different when it comes to personal finance. Knowing how much you routinely spend will provide clarity on what steps you can take to optimize your income and reach your financial goals. During my years working as a financial planner one of the first things I would do with my clients was a budgeting exercise. While I believe this is a crucial first step to creating a financial plan, people tend to squirm when they hear the word budget. But why? The short version, people think budgets are Restrictive. Boring. Uncomfortable. Most people don’t like the limits they feel when placed on a budget. Others can think of 100 things they’d rather be doing and for some, it unlocks sensitive relationships they have to money. You may fit into one of those categories or maybe you’ve tried budgeting in the past...
As a society, we continue to gravitate towards the holistic practice of wellness. We are not content with simply the absence of illness but instead, we are searching for the state of optimal physical, mental and spiritual health. These days I would be hard-pressed to find a city with a ‘main street’ or downtown that didn’t offer a variety of juice bars, yoga studios and farm to table restaurants. Additionally, the self-help arena continues to grow exponentially as we search for our purpose in this life and try to cultivate balance in our daily routines. When we think about spiritual health, our desires can be misinterpreted as selfish distractions. Spiritual practices teach us that if we focus on what we want then we will be pulled away from the connection to our true self. But as we continue to seek ways to improve ourselves and evolve we must introduce money, personal finance, into the conversation. Financial wellness isn’t about being...