It’s 2018, and may this year be as prosperous(hopefully more) as 2017. But in the event it’s not, or even if it is, there’s 3 steps that will ensure that your financial situation remains secure, with higher yields.
(1) The first step, SAVE MORE! Currently as it stands, half of Americans have less than $25,000 saved for retirement, with a quarter of them having under $1,000 saved. Although saving can become quite difficult, it’s a necessity, especially now with retired workers only receiving under $1400 a month for Social Security. To make sure that your retirement plan is sturdy enough to hold weight when tough times lay ahead, saving is essential; not to mention quite controllable, unlike stock market investments.
(2) Secondly, say goodbye to those pesky and hefty investment costs; get rid of them entirely. This particularly pertains to investment managers who have shown great ineffectiveness in investment periods of more than a decade. Basically, when it comes to investment fees and returns, your advisor stands to make more than your actual returns. In some cases almost half, like in fixed income areas, where Treasury fees were 2.4% yet the bond funds were only of a 1% expense ratio. Advisors should never make more money than the investors, keep in mind you’re the investor.
(3) Lastly, be sure to rebalance your portfolio. Sell your most appreciated assets and then use the funds to re-invest in your current stocks that can use some retooling. Very similar to the concept of selling high and buying low, but more importantly, you’re in better position to extend your long-term returns without incurring much risk.
No one understands these 3 steps better than financial publisher, The Oxford Club. Located in Baltimore, Maryland, The Oxford Club is an independent company that focuses on providing their members with the most effective and proactive global opportunities and strategies for achieving and sustaining wealth.
With over 157,000 members spread across 131 countries, The Oxford Club values their members as trustworthy and knowledgeable investors and entrepreneurs. For their members, The Oxford Club researches hundreds of investment opportunities, only choosing the ones with the greatest returns and lowest risk.