Get in the game

The Passover holiday celebrates our freedom from slavery. Why not take advantage of this time of year and get yourself out from fiscal slavery and become financially independent?

Back in high school I had a coach that said, “you can’t win the game if you don’t play.” There is a common perception that one needs to have a lot of money in order to start investing, and that their $35-50,000 just isn’t enough to bother with. The potential loss of not taking care of your investments over the long term can be staggering. You can literally be talking about leaving tens of thousands of dollars on the table because of inaction. Don’t think that just because you have $50,000 no one will talk to you. It’s simply not true. While there may be some advisors who specialize in high net worth clients, many advisors work with smaller accounts. I can also attest that over the last week or so, I have received a bunch of calls from young, 20-somethings who want to take advantage of the market crash. Being in the business through more than one big market sell-off I don’t remember ever receiving the amount of calls to take advantage of market drop to start investing than I have received over the last week. Very encouraging. important to also take into account future expenses. For example, the purchase of a car in 5 years, marrying off children in 8,10, and 12 years, is all relevant information necessary for the advisor to give you an accurate picture of what you need to do in order for you to be able to meet these future expenses.