What’s Your Long-Term Plan?
Published Wednesday, May 25, 2022 at: 7:19 AM EDT
The list of risks threatening investors is unusually long.
- Stocks are at the edge of a bear market. Inflation last raged so high in 1981.
- The pandemic lingers as does the risk of bad subvariants.
- Supply chain problems remain a drag on consumer spending.
- Oil prices could spike higher still, as Russia’s pariah status compels Germany to impose a ban on imports of Russian oil and gas.
This is a great moment to ask yourself: “What’s my plan?”
If you already have a financial plan, are you comfortable with it? Do you see how your plan will make sense in a decade or two? If you are comfortable with your long-term plan, congratulations! That’s great!
However, if the volatility makes you think your plan for retirement or achieving other goals no longer works, then it’s time to act. Reassessing a plan is fine.
And if you have no plan at all for achieving your long-term goals, then you are sabotaging your financial success and that’s not good. We’re here to help.
Nothing contained herein is to be considered a solicitation, research material, an investment recommendation, or advice of any kind, and it is subject to change without notice. Any investments or strategies referenced herein do not take into account the investment objectives, financial situation or particular needs of any specific person. Product suitability must be independently determined for each individual investor. Tax advice always depends on your particular personal situation and preferences. You should consult the appropriate financial professional regarding your specific circumstances. The material represents an assessment of financial, economic and tax law at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions. This article was written by a professional financial journalist for Advisor Products and is not intended as legal or investment advice.
©2022 Advisor Products Inc. All Rights Reserved.
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