New Year’s Resolutions Don’t Have to Be Expensive

//New Year’s Resolutions Don’t Have to Be Expensive

New Year’s Resolutions Don’t Have to Be Expensive

For Mark Roberts’ Use: It’s that time of year again! Did you set any New Year’s resolutions? If so, you’re probably ready to dive in and tackle your new goals. But if you do, keep in mind that changing your lifestyle often means changes to your budget. To avoid adding additional strain to your financial life, consider these affordable ways to address your resolutions.

The most common resolution can be an expensive one. Losing weight is probably the number one resolution made each January. Yet, how many people invest time and money into a weight loss plan, only to quit by March? For now, avoid an expensive gym commitment or personal trainer, and investigate other options. Virtual trainers are much more affordable, and walking or biking around your neighborhood is free. As for diets, learning to cook healthy meals at home is almost always more affordable than pre-packaged foods and subscription gimmicks.

New skills don’t need to be costly. Self improvement, through learning new skills, is another popular resolution. Luckily, you can probably access free or inexpensive classes through your local community college, online courses, your community center, or library.

Try out a hobby before making a serious investment. If you’ve promised to pursue a new hobby, give it a try first before investing in expensive equipment. Borrow from a friend, or check out rental options first.

Manage stress without adding stress to your budget. If you’ve resolved to lower your stress, you will find that this promise pays off through improved health and greater enjoyment of life. Start by investigating the more accessible stress management techniques, such as meditation, yoga, journaling, changing your daily routine, and spending time outdoors. You can find books on stress management techniques at your local library.

Get out of debt and prepare for the future. Of course, this is the resolution we love to see people making! Freeing yourself from long-term, high-interest payments is one of the best things you can do for both your financial and mental health. And of course, we always recommend that you re-evaluate your retirement plan every few years. Call us to schedule an appointment, and we’ll discuss your long-term goals and make a plan to help you accomplish them.

By |2019-01-07T09:26:02+00:00January 6th, 2019|Financial tips|0 Comments

About the Author:

In addition to managing clients’ money and giving investment and diversification advice, Mark offers something that “the other guys” don’t - a unique approach to Retirement Tax Strategies and distribution. Time and time again, Mark meets with new clients who tell him they have a great relationship with their financial advisor but have never been offered information on this kind of approach to securing their financial futures. Mark has taken this feedback to heart and works tirelessly to ensure that his strategies focus on taxes and distribution. Mark started selling insurance for a major insurance company right out of high school to help put himself through college. After graduating with a degree in finance, he dove into estate planning on the financial side to set himself apart from other financial advisors. However, as changes were made to estate tax laws over time, Mark shifted his focus to income tax strategies. Mark’s philosophy is “the blue prints are more important than the wall paper or carpet.” The wall paper and carpet represent products like investments and insurance policies, whereas the blue prints represent the strategies. Once strategies that truly fit the client’s needs are put in place, our focus can shift to providing you with the right products. According to Mark, “It doesn’t matter what carpet we use if the walls are not in the right place.” Our approach to money management is designed to generate the largest alpha (quality) with the lowest standard deviation and beta (risk). By doing this, we help provide clients with the highest return on the lowest risk. Generating income for our retirees is also very important. Because withdrawing money from your portfolio hurts the account rather than helping it, our goal is to design income strategies to harm the portfolio the least making the money last longer.