Feeling the pinch of the economy?
Don’t cut back in the wrong places
Every day, the headlines scream about a recession. But whether or not the U.S. is in one is irrelevant to our personal pocketbooks. If your financial well–being is being squeezed, you’re being affected by a recession.
First and foremost, we have to understand that a recession is personal. If our family is to a point where we are cutting corners and are looking for extra money — or if we’re thinking about picking up more hours to make ends meet in our personal lives — I think that's a recession.”
You may be tempted to make ends meet by reducing or stopping contributions to your 401(k) or Roth IRA accounts. Alexander says that’s the wrong approach. You should be creating a vision for your retirement — whether it’s maintaining your style of living or completing a bucket list of travel destinations.
“Yes, it hurts right now. But let’s think a little past right now,” said Alexander. “Once we lay out the retirement roadmap and the financial plan, you’ll be able to feel better about today’s volatility when you’re looking at projections of a decade into the future.”
ReJoyce Financial provides a hands-on approach to financial planning for its clients. Alexander and the entire team are constantly reviewing portfolios and suggesting tweaks so clients can meet their retirement goals.
“I think times have changed and you need be more proactive with your investments,” said Alexander. “The type of advice that we give is certainly a lot more hands-on than other financial advisors. We can look farther than this downturn in our market today.”
If you’d like to schedule your no cost, no obligation visit with the financial experts at ReJoyce Financial, fill out the form below.