As we reach the midway point of 2019, it’s time to take an honest look at your financial wellness and assess how you’re performing for the year. It might not be fun – especially if you aren’t following your budget – but tracking your finances is essential for setting yourself up for longterm success into retirement. Use the checklist on today’s episode to evaluate your finances.
Time never slows down, but doesn’t it always seem to catch you off-guard with how quickly the year flies by? We’ve already reached the halfway point of 2019 and that means it’s time to take a look into the mirror.
You might not like diving into your portfolio and evaluating your performance for the year, but it’s important to assess your financial wellness. Doing so now will give you time to make adjustments and change courses if needed. That’s why we want to give you a checklist to use that will give the answers you need.
In today’s episode of No Payne, No Gain, Ryan and Bob go through each of their key items on the checklist and explain why each is important. Hopefully you’ll be able to check everything off the list and keep going strong, but they have some advice if it’s necessary for you.
The guys also address some money mistakes that they come across on a consistent basis. Much like taking a mid-year financial wellness check, getting ahead of these mistakes will make you healthier in the long-run and set you up for retirement.
The episode wouldn’t be complete without a look at some of the latest financial propaganda that they’ve seen floating around. Take note and avoid being led astray.
We’ve laid out the show in the rundown below to make it easier for you to skip to the topics you care about most or to go back and listen to something again.
[0:32] – Introducing today’s discussion
[1:30] – Where does your checklist start? How about New Year’s resolutions.
[2:07] – Savings: How are you tracking through the first six months?
[3:34] – Example of a recent client that was off budget and the conversation they had.
[4:38] – If you are saving, where are you saving your money?
[5:35] – Why it’s important to rebalance your portfolio right now.
[9:19] – Recovering from money mistakes.
[9:37] – Taking social security at the right time.
[11:35] – Not having a longterm care plan is a big mistake.
[12:45] – You’re either not taking enough risk or you let the market run and end up having too much cash at risk.
[19:14] – Financial Propaganda of the Week Segment
[19:38] – Propaganda: Politics and elections will have a big impact on the market.
[22:36] – How bond funds drift into risky debt.
“Money saved in taxes is just as green as any money you can have invested”
– RYAN PAYNE No Payne No Gain Podcast
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Payne Capital Management, LLC), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Payne Capital Management, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Payne Capital Management, LLC is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Payne Capital Management, LLC’s current written disclosure statement discussing our advisory services and fees is available for review upon request.