The finance professionals at Bennett Group Financial know that it’s never too early to begin making wise choices with your money. While you may not yet be in a position to be making lengthy deposits into a retirement account, there are still multiple steps you can take to be smart with your money, such as the following:
- Don’t buy fancier items than you can afford. Buying a house, apartment, or car that is out of your price range is only going to add a mountain of debt that will continue to pile up over time. Though at times going into debt is necessary, don’t do it for the wrong reasons. You will have time to buy the things you want, but crippling your savings capacity early will cause you problems later on.
- Pay off debts as quickly as you can and avoid taking on new debt when it isn’t necessary. When you get a raise or a new job, try to focus on building your savings with these big life changes, and make sure that you really need whatever is tempting you.
Bennett Group Financial knows that you should begin saving now. Even if it’s just fifty dollars per month, it adds up over time. Building this habit is valuable regardless of how much money you currently make
The professionals at Bennett Group Financial know that planning for retirement, especially later in life, can be a stressful and overwhelming endeavor. With the insecurity of government-sponsored retirement, it’s never too early to begin saving, and there are multiple tools that will help you begin strongly, such as the following:
- Hire a financial planner to help you lay the foundation of what you and your family are going to need. The finance world often comes with its own language, and being able to share your distinct situation with a professional will ensure that you can maximize your efforts from the very beginning.
- Maintain a diversified portfolio. Putting all your assets into one account, one stock, or one general investment opportunity could cause problems for you when you need to start drawing money, or when the value of your investment drops. Having multiple avenues will give you more flexibility when the time comes to take money out and acts as a cushion against economic issues.
- Take care of your debt as soon as possible. Paying off credit cards or student loans for the rest of your life leaves you with significantly less money to save, so move as quickly as possible to pay those down as soon as possible.
Dawn Bennett, founder and CEO of Bennett Group Financial, enjoys educating people about how to build and manage their wealth.
Dawn Bennett, founder and CEO of Bennett Group Financial, knows that providing insightful and up-to-date financial counseling to their clients has the opportunity to change lives. With a multitude of investment options, it can be difficult to know where to begin, but their talented professionals are ready to help you find the best fit for your situation. For many clients, choosing gold may be a valuable investment for the following reasons:
- Gold has historically maintained its value, seen as a preservation method of one’s wealth that can be passed down from one generation to the next. It has been a wealth symbol of numerous civilizations, and it continues to hold the weight as a currency that it always has.
- The U.S. dollar has become weaker over time. While it is still one of the world’s most important currencies, it is not as secure as gold. As the value of the dollar sinks more, more people will choose to invest in gold, which raises its value.
- Gold is an excellent way of diversifying your portfolio, meaning that your investments are not closely correlated and connected to one another. This is important to protect your assets and maintain your wealth regardless of the state of the economy.
The advisors at Bennett Group Financial look forward to meeting with new clients.