Personal Finance
GIVE YOUR FINANCIAL PLAN A COVID ANALYSIS
GIVE YOUR FINANCIAL PLAN A COVID ANALYSIS
- WHAT PANDEMIC CHANGES CAN YOU APPLY TO YOUR LIFESTYLE?
- WHICH ACTIVITIES REALLY MATTERED, WHICH DIDN’T?
- WHICH EXPENDITURES WERE CRITICAL, WHICH WERE SECONDARY?
ADD SOME BOND ALTERNATIVES TO YOUR PORTFOLIO
ADD SOME BOND ALTERNATIVES TO YOUR PORTFOLIO
- Interest rates at historic lows
- Federal Reserve intends to keep rates low for the foreseeable future
POSSIBLE ALTERNATIVE INCOME SOURCES:
- Immediate and deferred income annuities
- Structured notes
- Dividend-paying stocks
- Maximizing social security benefits
REASSESS YOUR EXPENSES
REASSESS YOUR EXPENSES
- COVID-19 a wakeup call
- Doing without many activities
- Many former luxuries, not necessities
REBALANCE SOME OF YOUR U.S. STOCK EXPOSURE TO FOREIGN STOCKS
REBALANCE SOME OF YOUR U.S. STOCK EXPOSURE TO FOREIGN STOCKS
- U.S. market has outperformed foreign markets over the last decade
- Trim some U.S. holdings and add to some overseas markets
- Consider markets you are underexposed to and/or are unpopular
- Make charitable giving part of your financial plan
- Americans give away hundreds of billions a year
- Need to plan for it financially
USNIK: VALUABLE ADVICE
- CEOs and philanthropists should create a sounding board of millennials
- Get their views on issues that matter to you
- Millennials are the employees, customers and investors of the future
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