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Apr 18, 2023

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April is Financial Literacy Month

April is Financial Literacy Month. It is the perfect time to take inventory of your finances and investments.

Why We Bring Awareness:

  • Personal finance remains the number one topic of argument within a marriage.
  • Parents rank teaching financial responsibility to their children near the top of their wish list.
  • Only a handful of states require high school students to take a personal finance course before graduation.

Poor financial literacy leads to poor decision-making which leads to poor behavior which limits the household’s ability to reach its financial goals. Think about what you want for the future and where you currently stand. For Family Stewards, planning around your financial goals should be carefully considered and coordinated.

Good family stewardship is characterized by these main qualities:

  • Family stewards financial habits are guided by long-term financial goals. These goals are determined by the family vision and by concern for future generations.
  • Family stewards have continued to invest their money wisely, thanks to financial literacy and the help and guidance of expert Advisors.
  • Family stewards live with gratitude and generosity.

Here are some general tips to ensure your investment portfolio is set for the future:

For starters, start with a plan and determine your risk tolerance. Knowing your risk tolerance helps you plan your entire portfolio and will guide how you invest. Are you currently able to take higher risk for potential higher returns or are you at the point in your life where a conservative approach is most appropriate?

Ensuring that your choices align with your overall financial objectives, we then suggest considering diversifying your investment portfolio. By investing in a mix of assets, you can reduce your overall risk and gradually increase your returns over time (specific asset types are to be considered on an individual basis).

Set long-term expectations. Maximize your growth potential while riding the ups-and-downs of the stock market. You can avoid making impulsive/emotional decisions during turbulent conditions.

When we work with clients we understand your needs and goals are uniquely your own. Our team of investment professionals at Safe Harbor Asset Management, Inc. recognize this fundamental concept, which is why the financial plan we create for you and our approach to managing your wealth/finances will be equally distinctive.

Let's start by developing a complete picture of your overall wealth/financial health and then create a comprehensive roadmap to help you achieve your goals!

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