10 Financial Truths for the New Year

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 Here are some financial truths to keep top of mind as you ring in the new year...

  1. Never try to reach a goal by extending your portfolio risk beyond your ability to handle that risk in a down market. It may cause you to do harmful things.

  2. To reach goals most effectively and efficiently, plan and get professional help.

  3. Cash Flow is king; understand where you are spending your money. Hold yourself accountable.

  4. When times are tough, you can cut back on discretionary expenses but not fixed expenses like a mortgage. Be judicious in how you allocate financial resources to things you cannot change.

  5. Pay off credit card balances each month. Pay off credit card balances each month!... Worth saying twice.

  6. Save 10 – 20% of your income each month. Always.

  7. Max out tax-advantaged investments like 401(k)s, Roths, 529s and HSAs.

  8. Make sure you are protected for life’s greatest risks – death, disability, medical… (use insurance). Unless of course you’re filthy rich, then don’t even bother reading this.

  9. Set aside 3 – 6 months of expenses in cash vehicles for emergencies or unplanned events/opportunities.

  10. Strive to reduce fees on your investments. Do not do so at the expense of returns.

 Make it a great 2019!


Do you know your Risk Number?  It may surprise you.

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More Content Courtesy of

Braun-Bostich & Associates, Inc.