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Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
September/October 2024
Calming Your Money Fears
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.
GE-6734756.1(7/24)(Exp.7/26)
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Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in UT; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. GE-6572038.1 (4/24)(Exp. 4/26)
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These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
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