Top 10 Financial Predictions for 2018

Top 10 Predictions for 2018: From Pretty-Darn-Certain to Absolutely Guaranteed This time last year, we were dealing with the UK voting to break away from the European Union (which no one predicted), a Presidential election (which no one predicted) and market experts calling for 2017 to be a year where the bears returned. So, in the spirit of making predictions that will actually come true, here are the Top Ten for 2018 – delivered in order of certainty. In other words, Prediction #10 is pretty-darn-certain to happen while Prediction #1 is absolutely guaranteed. 10. Volatility Will Increase The market’s favorite gauge of volatility, the Chicago Board Option Exchange’s Volatility Index (called the “VIX”) hit an all-time low in November, hitting 9.14, resulting in a 17% decline in 2017. Given the current market environment, a new tax bill, rising interest rates, fluctuating currencies, moving oil prices and more, few will predict …

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4 Ways to Best Utilize Your Financial Advisor

What is the value of a financial advisor? The personal touch. Here are four stories of how flesh-and-blood advisors you meet in person (that’s opposed to a robo advisor, where your contact is digital or over a phone line) benefited their clients. These good advisors helped clients to overcome emotionally based decisions, stop them from making mistakes, figure out whether to make a big purchase and decipher arcane retirement plans. We’ll have separate articles throughout the summer describing in greater detail how they helped their clients. Planning is so very vital for your future. According to a study by insurer Northwestern Mutual, a large majority (72%) of U.S. adults believes that the economy will suffer future crises. But two-thirds of them don’t have a financial plan. Plans are not static. Once you have a plan in hand, ongoing contact with your advisor is vital to make the plan work. In …

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10 Tips for Small Business Owners

Small businesses owners should conduct an annual assessment of their personal finances. Owners of small businesses have much the same concerns as everyone else, except they are personally responsible for the fortunes of their enterprise. In a sense, a small business is like a family. And these are important families in American economic life. After all, small business is vital to the U.S. economy, employing half of private-sector workers and creating two-thirds of net new jobs, according to federal data. Here are 10 tips to follow in weighing a small business owner’s financial plan: 1. Budget/Saving. The general financial planning rule is that you should save AT LEAST 10% of your income on an annual basis. You should also review short-term and long-term goals to ensure you are saving enough to meet your objectives. 2. Maximize Contributions to Retirement Plans. Depending on the size of the company and number of …

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