I'm posting this because it strikes me as good advice that shows some thinking outside of the box for financial planning, which is what I like to think I do regarding real estate. I have subscribed to Justin's email newsletter ever since I saw him speak at a California Association of Realtors conference a few years ago. I have never worked with him, I don't know how good a job he does, but you might want to contact him if you are looking for a Financial Planner. I certainly will.
Justin Krane, a Certified Financial PlannerTM professional, is the founder ofKranefinancialsolutions.com. Known for his simple, savvy, holistic approach to financial planning, he has the unique ability to advise his clients on how to merge their money with their lives, so that they can make sound decisions with their finances, and get more of what they want in their lives.
8 Things I Want You to Know Right Now
1. Try not to panic. It's tough to make money that way.
2. Keep your eye on the price of gold. For stocks to make a comeback, gold needs to go lower.
3. The stock market needs leadership from Washington. Obama needs to appeal to business owners and tell Congress to come back from vacation and get a better budget deal done.
4. If you had a target allocation of 50% bonds and 50% stocks, you probably are now 45% stocks and 55% bonds. Consider rebalancing back to what your initial allocation was. This is general advice. I have no idea what your risk tolerance is and when the PERFECT time is for rebalancing.
5. Company insiders (CEOs) have been buying their own company stocks aggressively. That is a good thing. Many retail investors have been selling out of mutual funds - great contrarian indicator - meaning the general public makes poor timing decisions.
6. Based on your situation, consider converting your IRA to a Roth IRA. Talk to your financial advisor and CPA for all of the details.
7. Call your mortgage person and consider refinancing your mortgage.
This newsletter is for informational purposes only and should not be construed as individualized investment advice.
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