When thinking about your personal financial strategy, do you also think of life insurance? Many…
During uncertain economic times and periods of high market volatility, it’s normal for investors to experience increased levels of anxiety and question their financial future.
Avoiding irrational financial decisions during times of dramatic market volatility does not mean investors should remain passive. On the contrary, these can be ideal times to ask yourself important questions and take action.
- Review your 401k, 403b/457/TSP allocations. With recent volatility, your asset allocation within your employer-sponsored plan may no longer be aligned correctly.
- Consider increasing contributions to employer-sponsored plans. A lower stock market can present great buying opportunities.
- With historically low interest rates, it may be prudent to review the rates you’re paying on your debt.
- Review your cash reserves. Maintain enough cash in savings for a rainy day, but consider investing some of these funds at more appealing evaluations.
- Consider making 529 contributions for a child’s education at lower interest levels.
- Examine a Roth conversion; once money is converted and taxes are paid, a Roth IRA is withdrawn tax-free after age 59 ½.