Here’s a piece of priceless advice from Forbes for your 2019 financial plans:
I love simple financial advice because we make money management much too difficult. That’s why we need to boil down what we need to know — and cancel out the noise.
This year you can plan ahead, but you’ll need to earmark some things to do. Here are some great tips from my friend Julie Jason, the author of Retire Securely: Insights on Money Management from an Award-Winning Financial Columnist.
Manage With Logic, Not Emotion. There’s no question that the headlines are going to be nerve wracking. That’s the nature of the beast. Ignore them and figure out how much you’ll need to live comfortably in retirement and pay your bills.
“It’s a fact of human nature that emotions can wreak havoc on our decision-making abilities,” Jason notes. “A growing field of study called behavioral finance seeks to identify the pitfalls of the human psyche to help people — in this case, investors — minimize the effects that emotions can have on their investment portfolios.”
Do the numbers. Project your retirement income based on savings and Social Security. Figure out how much you need to save and invest to meet your goals. Execute!
Continue reading it HERE.