Mid-Life Financial Strategies:
Between age 45-55, employees are usually earning the most of any point in their lives. However, despite the feeling of monetary security, it is crucial to have solid mid-life financial strategies. Expenses such as children’s college bills and funding retirement can loom large on the horizon, and it is important to make the most of these wealth-building years.
One of the best things that you can do to ensure financial security is to organize and diversify your portfolio. It is important to have a variety of stocks, bonds, equities or other securities. These monies should vary in risk, time horizons and return on investment. You should also keep your portfolio fluid, retaining the ability to rebalance it if one investment becomes too heavily weighted.
Another significant consideration is taxes. At this moment, you are likely in the highest tax bracket you will ever be classified in. Because of this, you should … Read More