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Strategies to Build Wealth in Your Forties

Financial Steps that Can Set You Up for Future Financial Success

By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 10 August 2022

Strategies to Build Wealth in Your Forties

If you’re in need of strategies to build wealth in your forties and find yourself worried about accumulating enough to fund your future, you’re not alone. In fact, research shows that the average 401(k) balance for Americans between the ages of 40 and 49 is $120,800, meaning there are a significant amount of people who have less than that stored away in their savings. Even if you feel behind, rest assured you can make significant strides toward building wealth in your forties. Read on for strategies to help you make the most of this decade and maximize your wealth for the future.

Tips for Long-Term Investing Success

Seven Guidelines to Follow if You Want to Find Success in the Markets
By Kathy Longo, CFP®, CAP®, CDFA
Monday, 18 July 2022

Tips for Long-Term Investing Success

Investing can be a smart way to save money for your future financial goals, yet many people lack tips for long-term investing success. What’s difficult about planning to achieve goals in the distant future is that it can be easy to get distracted by short-term goals or to lose motivation because the goal feels so far off. Investors who find success in the market do so because they tune out the short-term and, instead, focus on the long view of their financial plan – evaluating their money goals, income needs, and assessing the spending demands of their lifestyle.

As you look toward your own financial future, read on for a few basic investing principles that are helpful to follow for long-term investing success.

Common Investor Biases That Can Harm Your Portfolio

How Subconscious Human Behaviors Can Impact Your Investment Success
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 06 July 2022

Common Investor Biases That Can Harm Your Portfolio

If you’ve ever heard of behavioral finance, you know there are some very human ways we can make mistakes in our financial decision-making – and researchers have been studying these unconscious impacts for a long time. How and why we make financial decisions is dependent on a matrix of information and insight, a complex equation that can factor into the success – or failure – of our investment portfolios.

Investor biases, a psychological occurrence in which an investor makes decisions based on preconceived ideas or beliefs, could potentially lead to investment mistakes.

A Critical Piece of Financial Advice for Growing Families

How Developing a Family Values Plan Can Help Keep Your Family on Track
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 22 June 2022

A Critical Piece of Financial Advice for Growing Families

You’ve probably heard all of the most common financial advice for growing families: max out your 401(k)s, invest money into a 529 college savings plan, buy life insurance, make sure your will is up to date, and so on. These are all important steps for cementing a firm financial foundation for your family, of course, but there’s more to consider.

Another important piece of a growing family’s financial puzzle is to determine what values they hold dear, and then commit to using those values to make financial decisions. Below, we’ll discuss why taking this step matters and how to get started.

6 Ways to Stop Overspending and Save More Money

How to Move Beyond Best Intentions Toward Best Practices
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 08 June 2022

6 Ways to Stop Overspending and Save More Money

If you want to stop overspending so you can save more money, you’re not alone. Yet even with the best intentions, it’s often not as simple or straightforward as it seems. Avoiding your favorite online stores and not splurging on special items can feel like you’re depriving yourself. When you give into all of your spending temptations, however, it’s easy to blow your budget and spend more money than you intend to.

If your balance keeps dipping lower than you’d like it to, read on for six strategies that can help you turn things around and meet this important money goal.

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