How do you define wealth? A person’s wealth is often defined solely by the amount of money in their bank account or their net worth. While wealth does measure the value of one’s assets, you can be wealthy in ways that do not include money – wealth comes in many forms.
In this article, we explore one way, other than financial status, in which wealth can be measured.
Watch M. Paul Bloom, CIO at Bloom Investment Counsel, Inc. review Q4/22 and share his thoughts on the investment markets in the coming year.
Inflation measures the rate at which the prices of goods and services increase. When inflation occurs, it can have a negative impact on the economy as the prices for basic necessities such as food, shelter and medical care are increasing, and in most cases, these increases are happening at a much faster and higher rate than the increase in wages.
So, what does this mean for your personal finances? This article will look into how inflation impacts your personal finances and what you can do to protect against it.
What’s going on with stock markets and how does this affect your retirement decisions? If you are about to retire or have recently retired, then stock market declines and high inflation are probably causing you to lose sleep.
Entering retirement represents a major shift from actively earning income to depending on your investments to fund your desired lifestyle. Down markets and high inflation may cause you to alter your retirement plans. However, most experts say that you should not let these events deter your retirement and long-term goals.
There are some steps you can take to help lessen the effects on your investments and allow you to retire more confidently.
A budget can be used to help you feel more in control of your finances, make it easier to track your spending and help you save for your financial goals. The following steps will help you create a financial budget.
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