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Michael A. Milazzo, CLU, ChFC

Registered Principal

 

The Meridian Financial Company

3350 Club Villas Dr SE, Unit #1303

Southport, NC 28461

 

Phone:  631-979-4223

Fax:      910-854-0002

 

Email: meridian@ae.cadaretgrant.com

Website: www.merfinco.com

September/October 2024

Calming Your Money Fears

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Whether you’re retired or just thinking about it, feeling as if you have no control over future events can cause stress that affects your well-being. Developing a strategy with the aid of your financial professional to address your concerns can help mitigate your fears.


What’s Bothering You?
Money issues? Health issues? Market downturns? Identifying your fears should be the first step in coming up with a strategy to overcome them. Putting a name to things that are causing you stress can set you on the right track to finding solutions.


Think About Your Goals
What are your plans for the future? Travel? Pursuing hobbies? Starting a business? Identifying concrete goals that you’re saving for can bring them into sharper focus. Visualizing what you want your life to look like in retirement can make the future seem less intimidating.


Assess Your Financial Picture
Do a deep dive into your finances with the help of your advisor. Does your current financial situation align with your future goals? Designing a strategy that moves you closer to your goals while reducing risk may lessen your anxiety. Diversifying your portfolio and setting up an emergency fund for unexpected expenses can provide a cushion in the event of a market downturn or unexpected loss of income.


Protect Yourself in a Health Crisis
The financial impact of a medical event can be devastating if you don’t have adequate insurance. Reviewing your health insurance to ensure you have sufficient coverage in the event of an illness or injury can remove a major stressor from your life.


Fear of a Market Downturn
For many investors nearing or in retirement, the possibility of portfolio losses due to a significant drop in market values is their biggest fear. While you can’t predict what the markets will do, you can take steps to shield your savings from market volatility. Adjust your asset allocation to balance growth with asset preservation by holding fixed-income investments in addition to stocks in your portfolio. Since stock and bond values typically move in opposite directions, bonds may provide a cushion during a market downturn.


*Asset allocation won’t guarantee a profit or ensure against a loss but may help reduce volatility in your portfolio.


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Securities and Advisory Services offered through Cadaret, Grant & Co, Inc, a Registered Investment Advisor and Member FINRA/SIPC. The Meridian Financial Company and Cadaret, Grant & Co., Inc. are separate entities. I am registered to sell Securities in the following States: NY, NJ, PA, NC, FL, ID.
The Meridian Financial Company and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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