You’ve just landed your dream job with a new employer or have finally made the transition into your long-awaited next phase (aka retirement). After taking some time to celebrate these milestones, you may ask yourself, “What should I do with my old 401k now that I’m no longer contributing to it?”. Here are some reasons that you may or may not decide to move your 401k into an IRA.
Like many of you, last Thursday when I woke up, I read the news that Russia had invaded Ukraine. The destruction, disruptions, and consequences of this invasion are very real, especially for those with friends or family impacted in the region.
As a Financial Advisor, I cannot help but see the significant parallels between the consistent habits we need to maintain (or achieve) good health and those that help us be more successful in the pursuit of our various financial goals. We all seem to know what to do at a high level: save more, spend less, invest smartly, eat healthier foods, work out. What I find isn't always recognized is the relationship between the time and intensity of these actions.
The word “inflation” carries with it a negative connotation, and we’ve certainly been hearing about it more and more this year. After last year’s economic shocks and the shutting down of large swaths of the global economy, it’s not surprising to see prices for most goods and services rebounding.
As investors, we want to have our cake and eat it, too: we ideally only want gains and would like to avoid all decreases in value. How great it would be to have a portfolio that could simultaneously accomplish both things? Sadly, we know that’s impossible. A better tactic would be to spend some time trying to find our own personal FOMO-JOMO nexus point.
Descriptions of the long-term behavior of the stock market can seem a lot like shampoo instructions: the market goes up, followed by a drop, then it goes back up again. Wash, rinse, repeat.