Smart Thinking On Investing – November 18

Smart Thinking On Investing – November 18

Smart Thinking hits the ground running this week with Mr Crazy Kicks and his advice on what to do with your money. Black Enterprise’s Carolyn M. Brown explains the three habits you need to succeed in retirement. And Northern Expenditure writer Maggie asks if you’re a spender or a saver?
 
Carl Richards, author of the Behavior Gap, has a revolutionary way to alter our spending. And the Financial Panther walks us through financially surviving Trump’s presidency…
 

“What I Would Do With Your Money”

 

  • Even when you feel pain you have to stick with your investments, the market will go up and down but stay strong
  • Get into everything; diversification is your best friend and an index fund will do just that for you
  • Be smart and reinvest your dividends, and whatever you do don’t try and time the market—stop waiting for a crash, just start investing

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Habits to Optimize Your Retirement

 

  • Live each day with passion; from how you save in your working life beforehand to how you spend your time once you retire
  • Investing in advance for a pension or annuity can soften your financial risk when you eventually do retire because it provides an ongoing income stream
  • Many people make decisions based on age for retiring; successful retirees make their choices on the amount of assets they’d like to survive on during their retirement as income

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A Spender or A Saver; Which Are You?

 

  • A spender is usually considered as someone who splurges their money, while a saver is seen as being particularly tight with theirs
  • Neither strategy is a healthy approach to your finances—retail therapy won’t fix your problems and hoarding for the sake of it could be deemed greed rather than frugality
  • Find the right balance; save before you spend—know what your goals for your money are and take steps towards achieving them

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Practice Before You Buy

 

  • Before you approach your next purchase; consider a new strategy to avoid blowing your budget and feeling buyer’s remorse
  • Practice putting the money you plan on spending monthly into a savings account for a few months ahead of buying; to let your budget get used to the amount
  • Chances are you may change your mind—delaying in this manner will help you make better buying decisions—but you’ll also have a nice wad of cash to put down as a deposit

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How to Endure Trump’s Presidency

 

  • Following the recent results of the general election, there are a lot of naysayers predicting the end of the world; for the stock market at least
  • The way to survive the likely market volatility we’re facing is to stay calm, think rationally, and make sure you’re prepared for the worst if anything does happen
  • Knee-jerk emotional reactions should have no place in your upcoming future trading decisions; the market always recovers eventually

What are your financial plans for surviving Trump’s presidency? Share in the comments section below

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Do you want to start investing on your own, but don’t know how?

Check this out!

 

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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article. Andrew Stotz doesn’t necessarily endorse any stocks or shares mentioned in the articles or the author of such articles linked to and summarized in Smart Thinking On Investing and cannot guarantee the accuracy of its information.

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