Our Common Wealth for Economic Security
by Devon Fleming on December 28, 2009 at 09:28AM
One of my experts, Catherine Avery has the following advice. In addition, we will be offering a fall event in New York to deliver specific solutions for this key challenge.
Financial Procrastination
Procrastination and finances are a volatile mix. Investopedia.com points out that while delaying paying your taxes definitely comes at a price, procrastinating on major financial decisions can ultimately cost you the most, and lead to some seriously negative repercussions. For example:
Making hasty decisions without adequate research
Having insufficient time to read and analyze the "fine print" in contracts
Delaying saving for retirement
All of the above can wipe out a massive chunk of one's bank balance and net worth. And if that isn’t a stressful scenario, I don’t know what is!
Got A Plan?
Prompt action is the antithesis of procrastination. When it comes to your finances one of the best ways to counter foot dragging is to break things down into a realistic, actionable plan. This kind of successful investment plan should include the following three steps:
Get organized
Know where your money is
Know what your goals are i.e. retirement savings, trip around the world, college savings etc
2. Move FORWARD!
If there’s just one thing you do, maximize the money you save for
retirement
Be realistic about how much risk you’d like to take (never mind what everyone else is doing - remember people rarely tell you about the bad stuff!)
3. Stay the course
Don’t be influenced by short-term performance. It’s rarely a reliable
indicator of future success. Progress toward goals is more important.
Be aware of anything going on in your life that may change your financial needs i.e. aging parents, starting a new business, unemployment.
* * * * *
For those of you with questions, feel free to call me at 203.966.2712. Also please visit my website at www.catherineaveryinvest.com
Please pass along this newsletter to friends and family to spread the word!
Warm regards,
Catherine Maniscalco Avery
CAIM specializes in creating and managing
customized and fully diversified investment portfolios
for private investors.
203.966.2712 p
203.966.5697 f
www.catherineaveryinvest.com
Our Common Wealth for Economic Security
By Devon Fleming, Posted 28/28/09 09:28 AM
One of my experts, Catherine Avery has the following advice. In addition, we will be offering a fall event in New York to deliver specific solutions for this key challenge.
Financial Procrastination
Procrastination and finances are a volatile mix. Investopedia.com points out that while delaying paying your taxes definitely comes at a price, procrastinating on major financial decisions can ultimately cost you the most, and lead to some seriously negative repercussions. For example:
Making hasty decisions without adequate research
Having insufficient time to read and analyze the "fine print" in contracts
Delaying saving for retirement
All of the above can wipe out a massive chunk of one's bank balance and net worth. And if that isn’t a stressful scenario, I don’t know what is!
Got A Plan?
Prompt action is the antithesis of procrastination. When it comes to your finances one of the best ways to counter foot dragging is to break things down into a realistic, actionable plan. This kind of successful investment plan should include the following three steps:
Get organized
Know where your money is
Know what your goals are i.e. retirement savings, trip around the world, college savings etc
2. Move FORWARD!
If there’s just one thing you do, maximize the money you save for
retirement
Be realistic about how much risk you’d like to take (never mind what everyone else is doing - remember people rarely tell you about the bad stuff!)
3. Stay the course
Don’t be influenced by short-term performance. It’s rarely a reliable
indicator of future success. Progress toward goals is more important.
Be aware of anything going on in your life that may change your financial needs i.e. aging parents, starting a new business, unemployment.
* * * * *
For those of you with questions, feel free to call me at 203.966.2712. Also please visit my website at www.catherineaveryinvest.com
Please pass along this newsletter to friends and family to spread the word!
Warm regards,
Catherine Maniscalco Avery
CAIM specializes in creating and managing
customized and fully diversified investment portfolios
for private investors.
203.966.2712 p
203.966.5697 f
www.catherineaveryinvest.com
