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Tag: NYT
Do Politics Belong in Your Financial Plan?
With politics being everywhere in this heated time, it’s natural to wonder, do politics belong in your financial plan? A recent article in the New York Times looks into just this question.
The key point: as an investor, your advisor’s views should have no part in your plan. At HIG, you and your personal wealth goals are what matter to us. If you want your politics to be a part of your future goals, we will help you decide how to do that. Our politics will not enter the picture.
If you are not a client of ours, and are worried that your advisor’s political outlook is influencing their advice to you, here are some suggestions taken directly from NYT the piece:
- If you think politics factor into your adviser’s strategy for your nest egg, ask for explanations. A good retirement planner will be able to articulate how the actions taken by politicians can — and can’t — affect your portfolio.
- When emotions are running high, resist the urge to dismiss your adviser on the spot — a knee-jerk reaction when it comes to your retirement security isn’t a great idea. Don’t do anything that’s not part of a long-term investing strategy.
- Talk to your adviser about how specific economic policies affect your portfolio. Politics might be about people, but your investment decisions should be informed by the ramifications of, say, bond-buying or tax-code changes.
- Try to keep an open mind. A different viewpoint from one you hold might give you valuable insight for your long-term savings goals.
- If you want to integrate your political views more directly into your retirement planning, some advisers suggest working with someone who has knowledge and expertise in E.S.G. (environmental, social and governance) investing strategy.
At HIG, we have a single-minded focus on putting the odds of your long term success in your favor. And, as fiduciaries, we are legally bound to work in your best interest. Period. We are passionate about what you need from your plan to help you live the life you want, and give you peace of mind.
So, our message during this period will sound familiar to our long-term followers: focus on what you can control, keep calm, and take the long view. Your nest egg and legacy will thank you.
Raising Resilient Children Through Storytelling
I read a great article recently in the New York Times. It revealed that studies ranging from Emory University to Silicon Valley indicate that children learn resilience when they discover how their family and previous generations have dealt with adversity. Introducing stories from your past, trials and errors, success and failures – anything that reveals to your children that mistakes are a part of life – will enable them to become stronger, more resilient members of society.
Reading this article is a great starting point to come up with ways to weave your own family narrative into dinner table discussions this holiday season (which is right around the corner)! Ask your children and grandchildren questions, share your stories with them, and be prepared for new holiday memories to be made.
Please click here to read the full article: The Stories That Bind Us.