Financial planning is an ongoing, iterative process. But it always starts with identifying and specifying goals. Why are you saving cash? When do you prepare to retire? How much do you invest now? Are you saving for college? The more specificity that can be contributed to each goal, the most likely it is to be accomplished.
No matter your phase in life, whether you are just starting saving and investing or are well into your working years with a plan currently in location, you require to examine your goals routinely. Our circumstances in life frequently alter– and so ought to our plans..
In this episode, Mark talks to Cindy Scott. Cindy is a QUALIFIED FINANCIAL COORDINATOR ™ professional and wealth advisor with Schwab in Westlake, Texas. She shares numerous stories of genuine investors who have dealt with challenges when setting or defining their goals.
Financial Decoder is an original podcast from Charles Schwab (). For more on the series, check out Schwab.com/ FinancialDecoder ().
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Important Disclosures:.
The info offered here is for general informative purposes just and ought to not be considered a customized suggestion or individualized financial investment guidance. The financial investment techniques mentioned here may not be suitable for everyone. Each investor needs to review an investment technique for his/her own particular circumstance before making any investment decision.
All expressions of viewpoint are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party suppliers is obtained from what are considered reliable sources. However, its precision, completeness or dependability can not be ensured.
Examples supplied are for illustrative purposes just and not meant to be reflective of results you can expect to accomplish.
Investing involves danger, consisting of loss of principal.
Diversification and rebalancing of a portfolio can not ensure an earnings or protect against a loss in any offered market environment. Rebalancing might cause investors to incur transaction expenses and, when rebalancing a non-retirement account, taxable events might be created that might impact your tax liability.
This info does not make up and is not meant to be a replacement for specific individualized tax, legal, or financial investment preparation advice. Where particular guidance is essential or proper, Schwab recommends consultation with a certified tax advisor, CPA, financial planner, or financial investment manager.
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