Tag Archives: investment strategy

Financial Information

Properly Understanding Financial Information In The Media

Our society is constantly overwhelmed with financial information either by television, internet, cell phones or print media. Deciding which is best and most accurate can be very daunting for the average investor. In addition to choosing the right media source, investors also have to apply that information to their financial situation. In many cases, this can become a full time job, very challenging and requiring constant monitoring.

Minimal education is provided to us by our parents, peers or in school about how our financial system works. However, since it is an ever changing industry the information we have learned in the past may not be relevant today. Therefore, it is critical to understand what reliable information is and what may be misinformed facts.

These media sources are a critical role in today’s society but also come with some information risk. Everyone’s interpretation is different and we must realize that a percentage of the information is purely entertainment. In today’s environment, the media is influenced by marketing dollars, and understanding what may be accurate information and what may not is important to understand.

With tons of information about the financial industry — that (in many cases) is indirectly affected by other sources such as politics, government, other countries, weather, market shifts, innovations and technology — being properly informed and avoiding the “junk” information can be difficult, but must be done. As investors, we must not only focus on the investment, such as a stock, bond or mutual fund, but consider the strategies in place to account for current events.

Also, once an investor has decided on an appropriate investment strategy he or she will then manage the investments or work with a financial professional. Information is key and deciphering that information according to a situation can be difficult when creating an appropriate investment strategy as well as making changes within a portfolio as needed based on economic shifts. Many times, working with a financial professional can help investors use up to date, reliable information to meet financial objectives.

For more information regarding understanding financial information, visit jacobgold.com.

 

Securities and investment advisory services offered through ING Financial Partners, Inc. Member SIPC. Jacob Gold & Associates, Inc. is not a subsidiary of nor controlled by ING Financial Partners, Inc.

This information was prepared by Michael Cochell of Jacob Gold & Associates Inc. and is for educational information only. The opinions/views expressed within are that of Michael Cochell of Jacob Gold & Associates Inc. and do not necessarily reflect those of ING Financial Partners or its representatives. In addition, they are not intended to provide specific advice or recommendations for any individual. Neither ING Financial Partners nor its representatives provide tax or legal advice. You should consult with your financial professional, attorney, accountant or tax advisor regarding your individual situation prior to making any investment decisions.

Estate Planning: Planning Your Future

Estate Planning: Planning For The Future

Estate Planning: Planning for the Future

When planning your financial future, it is important to consider an investment strategy, risk tolerance and time horizon. These are critical aspects of building wealth.

Although many of us focus on the now, we forget about organizing our finances and personal interests upon our passing. This aspect of planning is neglected many times and can put everything at risk. As investors, we will spend many years saving and planning; we should take the steps to protect all that we have built. This can be done by arranging an estate plan that will allow you to pass on your assets to who you want, how you want, and when you want.

This type of planning may seem overwhelming, but an effective estate plan doesn’t need to be complicated. It can be broken down in two key elements. The first is having a durable power of attorney and the second is a will.

Having a durable power of attorney will allow you to manage your assets while you are still living by appointing someone to act in the event you are unable to do so. A will focuses on managing and distributing your assets after death.

In addition to these key elements, an estate plan can help avoid the problems and expenses of probate, avoid family conflicts, provide flexibility in estate management, and minimize taxes at the time of death. These are some of the benefits and why estate planning is so important. However, how does one get started on setting up an estate plan?

Most estate planning objectives can be accomplished by hiring an attorney or by using an online “do-it-yourself” approach. The cost of hiring an estate planning attorney to assist with the development and implementation of an estate plan is typically far outweighed by the benefits of recruiting experienced council. The person who decides to save money by using an online service is likely to make costly mistakes, says estate attorney Kari Meyrose of Gorman and Jones Law Firm.

“Estate planning attorneys spend many years learning the contours of estate planning rules and methodologies, and they have the ability to forecast the potential outcomes that may result from an individual estate plan,” Meyrose says.

Estate plans range from simple to very complicated, and in some cases the cost of not using an attorney may actually end up being a very costly lesson for loved ones. Either way you decide— do it yourself or use an attorney — don’t procrastinate in making a choice and take action in planning your future.

For more information about estate planning or Jacob Gold & Associates Inc., visit www.jacobgold.com.

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This information was prepared by Michael Cochell of Jacob Gold & Associates Inc. and is for educational information only. The opinions/views expressed within are that of Michael Cochell of Jacob Gold & Associates Inc. and do not necessarily reflect those of ING Financial Partners or its representatives. In addition, they are not intended to provide specific advice or recommendations for any individual. Neither ING Financial Partners nor its representatives provide tax or legal advice. You should consult with your financial professional, attorney, accountant or tax advisor regarding your individual situation prior to making any investment decisions.[/stextbox]