Financial planning in 2023
Tips for beginning a fluid portfolio
CAPE GIRARDEAU, Mo. (KBSI) – Are you making progress on your New Year’s resolutions?
How does your financial portfolio look one month into the new year?
If you answered “no” to the latter, here are some tips from a local financial advisor on how to right the financial ship in ’23.
“Get a real expensive drink to start my day. Then at lunchtime, I make another choice and then in the evening … you know, just that rental movie every night, all that stuff adds up and it makes a really big difference,” said Deriek Hodges, financial planner with Anchor Pointe Wealth Management.
With inflation and the topsy-turvy nature of the Federal Reserve and Wall Street, the times are confusing.
But Hodges warns your financial habits don’t have to reinvent the wheel.
“Find some amount of cash set aside, not for vacation, not for anything fun, truly set aside for those emergencies; that gives people as much confidence and financial boost as anything that I can think,” said Hodges.
If the calling extends beyond a savings account, a low risk, low reward option may be best for first-time investers.