"Unexpected events can set you back or set you up. It’s all a matter of - perspective."
The one thing that is certain in life is that everything is subject to change. Unexpected events and expenses are inevitable, both good and bad. With professional investment planning, we can prepare you for whatever comes your way.
Assess your current financial situation. Calculate your total income, expenses, assets and debt.
Calculate your total insurance coverage, held personally and through your employer. Include disability, life and liability insurance.
If you are nearing or past retirement, summarize your combined sources of income.
Examine your current plans for covering health care and long-term care expenses for yourself and family members.
Check who you have named as the beneficiaries for all insurance policies, pension and investment accounts.
Review your latest will and ensure it is up to date. Locate and detail your important legal documents and ensure someone has access in case of emergency.
Contemplating this process can feel onerous, but these simple steps go a long way to giving you peace of mind. Your Newmark Group advisor can then review your current situation and highlight any necessary steps to ensure you are properly protected. This process also paints a picture of who you are as a person and as an investor, helping your advisor ensure that he or she properly aligns your investments with your needs, your desires, and your risk tolerance.
Clients often ask how much they should have saved for a rainy day. For most clients, a professionally constructed investment portfolio will allocate a portion of assets to cash and near-cash assets, like treasury bills and money market funds. These are liquid and available in an emergency. As a rule of thumb, people should have access to funds equal to between three and six months of income. Most new investors are best served by building up such a cushion as a first step to establishing an investment portfolio. From there, they can move forward with their investment strategy, growing their wealth and moving towards a better future.
We welcome any questions and invite you to contact us directly for additional information.