Generosity Wealth ManagementBlog
Empty pockets never held anyone back. Only empty heads and empty hearts can do that. – Norman Vincent Peale
Generosity Wealth Management provides you with the information you need to stay abreast of the top financial news. If you ever have any questions, you can reach out to us directly.
Last month’s inflation was 4.2% year-over-year percentage growth. That’s a large number and if you get your news from the TV news outlets, which we highly recommend you don’t, you are likely up in arms. So, is now the time to panic due to inflation? No, we don’t believe there’s ever a time to panic. But is there a time to be concerned about the impact to you, your life, the economy, your portfolio, things of that nature? Well, that’s not quite the right question to ask. The real question should be, is this temporary or is this systemic?
Barron's Advisor News discusses how financial advisors connected with clients during the pandemic in their latest article, ‘Pie Drive-Bys’ and Celebrity Chefs: Will Pandemic-Era Client Events Outlive Covid? Gone were the traditional in-person events, replaced by...
It will never rain roses: when we want to have more roses, we must plant more roses. ― George Eliot 80 percent of reaching your financial goals is clearly defining them and having a plan for how to get there, proactively discussing any speed bumps, big or small. One...
Powerful emotions drive irrational thinking in all areas of our lives. Twelve months ago we had an awful lot of irrational thinking. There was no way that anyone could have predicted that we would be where we are today, that the financial market would have not only recovered but experienced growth. It seemed like the recovery timeline should have taken longer, but it didn’t. But how did people fare? When you look back 12 months ago the people who made the best decisions were those that were in control of their emotions. Those who weren’t on the other hand, didn’t fare as well.
Let’s discuss why this is so and why looking long-term is always important, no matter what’s happening in the world.
30 years ago, financial advisors were the primary source for market information, such as how things are performing, statistics, etc. Access to the information was not readily available to the general public and it was a financial advisor’s job to communicate specifics with clients.
Now, thanks to the internet, anyone can access pretty much any information they want, any time they want. Thus, we generate much more value by showing you what to do with all this free flowing knowledge and analysis.
"What the new year brings to you will depend a great deal on what you bring to the new year." - Vern McLellan 2020 was a rollercoaster of huge declines followed by a huge recovery, with ultimately happy investors at the end of the year. 9 months ago however, we didn't...