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6 Sacrifices Needed to Achieve Your Financial Goals

Written by Bloom Investment Counsel, Inc. on June 3, 2024. Posted in Wealth Planning. No Comments on 6 Sacrifices Needed to Achieve Your Financial Goals

The idea of becoming wealthy is often portrayed as a glamorous and exciting journey, but in reality it requires a lot of patience, discipline, and significant sacrifice to achieve your financial goals. These sacrifices can range from taking calculated risks to delaying immediate gratification and investing your time wisely.

It is undoubtedly a challenging task, but with the right mindset, knowledge, and resources, anyone can achieve financial freedom and secure a better future for themselves and their loved ones.

Can Robo-Advisors Really Meet All Your Investment Needs?

Written by Bloom Investment Counsel, Inc. on June 3, 2024. Posted in Investing. No Comments on Can Robo-Advisors Really Meet All Your Investment Needs?

A robo-advisor is a digital platform that provides automated, algorithm-driven investment services with minimal human supervision. Robo-advisors first emerged in 2008 following the global financial crisis. Their purpose was to make investment advice more accessible and less expensive.

But does this hands-off approach to investing really meet all your investment needs?

The Risks of Not Having an Estate Plan

Written by Bloom Investment Counsel, Inc. on May 27, 2024. Posted in Estate Planning. No Comments on The Risks of Not Having an Estate Plan

Not having an estate plan in place is risky. It can lead to a range of issues that can affect your assets and impact your loved ones after you pass away. Without an estate plan, your assets will likely go through probate, a legal process that can be time-consuming and costly. During probate, a court will determine how your assets are distributed according to your local laws, and these decisions may not align with your personal wishes. This means your assets could end up in the hands of unintended recipients, potentially causing disputes among family members and loved ones.

Is a Vacation Home a Good Investment?

Written by Bloom Investment Counsel, Inc. on May 27, 2024. Posted in Life Events. No Comments on Is a Vacation Home a Good Investment?

Investing in a vacation home may be enticing to you, for the joy of a personal retreat and for the potential for financial gain. The appeal of owning a “place in the sun” that can also generate income through rentals is strong, but whether it’s a good investment or not depends on several factors.

How Does a Business Loan Affect Your Personal Credit?

Written by Bloom Investment Counsel, Inc. on May 20, 2024. Posted in Financial Literacy. No Comments on How Does a Business Loan Affect Your Personal Credit?

A business loan can affect your personal credit. Therefore it’s crucial to understand how your business’s financial activities are linked to your personal credit health when assessing the impact of a business loan on your personal credit. Whether a business loan affects your personal credit score or not can depend on various factors, such as the structure of your business and how the loan is guaranteed.