218: 11 Financial Moves to Make in 2017

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Learn 11 savvy financial moves to make in 2017:

1. Identify any mistakes made in 2016

– Stocks to sell, trim losses

2. Review & rebalance portfolio

– Make sure you own some small caps

3. Consider strategic investments in high growth areas

– Spice up your portfolio with India, silver, China, tech, etc.

– What can you buy low? Commodities? Uranium? Miners?

4. Reduce debt

– Refi or pay off

5. Avoid long-term bond funds

– 30 year bonds have the most risk in a rising interest rate environment

6. Save and invest more

– Savings accounts have low interest rates, investment accounts offer potential of higher compounding, but have more risk.

7. Think over large purchases

– Do you really need a new car?
– Could you invest instead?

8. Start a side hustle for extra income?

– Never easier to start a business

9. Consider how big picture changed and how it will affect you

– New President, lower taxes?
– Interest rates rising
– Banks in Europe in crisis?

10. Things that didn’t change

– Debt in USA
– Your work? Income? Mortgage?
– Your goals?
– Your retirement age?

11. Time, Money, Compounding Rate are the 3 things that effect your wealth.

– Time = years to retirement
– Money = amount to invest
– Compounding rate = % you compound money

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