Category Archives: Daniel Covell, CRPC

In Unpredictable Times, Stay the Course

2017 has been an eventful year in the news, with a seemingly endless stream of fast-breaking developments coming out of Washington and other parts of the world. Through all this commotion, the stock market has posted significant gains. Investors who have stayed invested in stocks have likely been rewarded.

At the same time, investors can’t assume that this market environment will continue. At some point, the long-running bull market (currently in its ninth year) could suffer a decline. Are there steps investors should take to prepare for that? Continue reading In Unpredictable Times, Stay the Course

How Will You Pay Yourself in Retirement?

With all the attention on saving for retirement, it’s easy to overlook another important activity: creating a plan to pay yourself in retirement.  More than ever, pre-retirees—especially those who don’t have a pension—will have to rely on a combination of income sources to pay for their essential and lifestyle expenses in retirement. Here are some tips to consider as you design your plan.

Create a plan.  A recent Ameriprise Financial study found that more than half of pre-retirees report feeling overwhelmed and anxious about their impending retirement and worry that they will run out of money. The good news is that those with a retirement income plan are more likely to feel confident about their financial future. You too can take action to help lessen fears about the unknown. Continue reading How Will You Pay Yourself in Retirement?

How to Select Your Financial Advisor

Speaking from experience, the relationship between a financial advisor and his or her clients is incredibly important. Whether you rely on your advisor to help with retirement planning, saving for college, or meeting other goals, this individual will help determine how you approach some of life’s biggest financial decisions. That’s why it’s critical to ensure you’re working with the right person. Here are a few tips to keep in mind when choosing an advisor. Continue reading How to Select Your Financial Advisor

8 Tips to Improve Your Financial Communication

What makes a couple successful in their financial relationship? Ameriprise Financial surveyed over 1,500 couples (those married or living together for at least six months) to learn about their money conversations and how they make decisions. The results revealed eight ways you can improve the financial health of your relationship:

  1. Understand your partner’s money mindset. It’s normal to have differing views and habits about money, but that doesn’t mean you can’t agree on your financial goals. Couples who report being on the same page financially work to understand their partner’s approach to money and keep the lines of communication open.

Continue reading 8 Tips to Improve Your Financial Communication

Should You Pay Off Your Home Mortgage Early?

Many people who carry a home mortgage dream of the day when they will no longer face the burden of a monthly house bill. They want the financial freedom – and the satisfaction – of owning their home outright. Does that mean you should make paying off your mortgage early a priority? The answer depends on your circumstances and goals. One question you should ask yourself is, “Would the money you spend on your home loan be better spent on or invested in another financial opportunity?” Continue reading Should You Pay Off Your Home Mortgage Early?

Are You Financially Prepared to Raise an Athlete?

There’s no denying that the cost of childhood athletics is expensive. And while you may not be raising an Olympic-caliber athlete, if your child is one of the 35 million kids between ages 5 and 18 who play an organized sport in the U.S.1, you know about the financial commitment all too well. Expenses add up quickly, and it can be easy to lose track of the cost for your child to be on the team. Continue reading Are You Financially Prepared to Raise an Athlete?

Why the Federal Reserve Matters to you

The Federal Reserve (the Fed) has been highly prominent in the news media over the last few months as they debate when to begin raising interest rates. Federal Reserve decisions can have a significant impact on the economy, but the impact on individuals is not always as clear.

By law, the Fed has two primary objectives: To maximize employment and keep inflation under control. Of course, the Fed does not have a magic wand to control economic activity, but it seeks to influence economic trends through what is called monetary policy, or the ability to push interest rates higher or lower.    Continue reading Why the Federal Reserve Matters to you

What Does Brexit Mean For Your Investment Strategy?

The United Kingdom’s decision to leave the European Union (EU) following a referendum known as “Brexit,” was the latest test for investment markets worldwide. The immediate market reaction was decidedly negative, but soon after markets started to rebound, more so in the U.S. than overseas. Investors should be prepared for continued uncertainty related to the Brexit vote, which could contribute to volatility in the days, weeks and even months to come. Continue reading What Does Brexit Mean For Your Investment Strategy?

Setting Financial Expectations with Family and Friends

As the weather heats up, so does the planning for vacations, graduations, weddings and family reunions. Your packed event schedule could impact your financial health, so it’s important to set expectations with your family and friends early in the planning process. Talking about money with family members and friends can feel awkward, but in some instances, not talking about financial expectations upfront can create stress and tension down the road. It could also leave you with a larger dent in your pocketbook than you expected. Continue reading Setting Financial Expectations with Family and Friends