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Get to your financial goals with this mid-year financial pulse check

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When we started the Thrive For[e]ward podcast it was because we wanted to focus on the “why” of things and dig deeper into how money touches every aspect our lives, thus the reason we feature a variety of guests from all types of industries.  To date, we have shared with our listeners a total of 50 episodes!  We THANK YOU for your support, for listening and we want to continue to hear and learn from you what information is valuable.


Today, I’m excited to be doing a solo episode with the focus on what are the three most important things you can STILL accomplish before the end of the year. We find that we have to ask ourselves the big question, why?


What are the reasons for the goals we set?

Dig deeper, ask yourself this question.

Then ask, what do you need to do to get to your goal?


When working with clients, I sometimes go back to the basics. We tend to be overloaded by information shared with us through social media, friends, family and various other platforms. This can cause us to question our financial decisions, what our plans are for the future and how we invest and save. The most important thing is to PLAN AROUND YOU, NOT WHAT EVERYONE ELSE IS DOING.


We are all at different stages. Financial planning and wealth management is not a cookie cutter approach. Some people need to save more than others to have the lifestyle they want. Some need to save less, and some actually need to spend or reposition assets to plan for needs beyond their own.


And because we are at different stages, and because we have different values and interests, it’s important to diversify.


This brings us to the Modern Portfolio Theory (MPT) theory.

The MPT is a mathematical framework for assembling a portfolio of assets such that the expected return is maximized for a given level of risk. It is based on the idea that owning different kinds of financial assets is less risky than owning only one type. Its key insight is that an asset’s risk and return should not be assessed by itself, but by how it contributes to a portfolio’s overall risk and return. It uses the variance of asset prices as a proxy for risk. (Source: Wikipedia)


We see that 92% of our overall success in our portfolios is the design of asset classes. I like to refer to this as the different types of pie. If you want to the dessert buffet, do you REALLY only want to select just one? I know I wouldn’t want to. Think the more types of dessert the more diversified you are. 


How diversified are you? How are you allocating your assets?

Outside of the 92% … 2% is timing the market, 3% is picking a specific security and 3% is LUCK!

The majority of your overall long term return is the thought process that 92% of how you diversify the types of investments you own.


Now that we are in our mid-year checkpoint, I’d like encourage you to both explore and do your research.

If you want to have financial stability in the future there are three things you can do now that will impact your journey forward.

1.     Work towards and establish your savings goals

2.     Protect what you have built and have legal documents in order

3.     Understand the need for planning for the what if’s of life.


I explain each of these in more detail on my episode and invite you to listen and learn. Additionally, in regards to savings, I share a bit about how to set yourself up for what I reference as “flexible dipping.”


When we get to the time where we need to start withdrawing from our portfolio/savings, we should have a level of flexibility on how, when, and what the tax treatments are to accessing our money. Listen to find out more about how I talk with my clients about building options that allow there flexibility by building out these separate bucket strategies:

•       Tax deferred

•       Tax free

•       Taxable


 Remember, this is the time to hit the RESET button. Establish your savings account and plan for the lifestyle you want to have and preserve it. If you are feeling like this is a space you are overwhelmed with, then know we are here to help and come alongside you.

Schedule your wealth assessment and we can help you thrive.

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Securities offered through LPL Financial, a member of FINRA/SIPC. Advisory services offered through Advisors’ Pride, a SEC registered investment advisor. LPL Financial, Advisors’ Pride, Forethought Planning and the guests of Thrive For[e]ward podcast are separate and unaffiliated parties. Any of the parties listed above are not affiliated with Forethought Planning, Advisor’s Pride, or LPL Financial. The views expressed here are those of the participants, and not those of Forethought Planning, Advisor’s Pride, or LPL financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. LPL Financial and Forethought Planning do not offer legal services.

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