When it comes to investing, emotion is not your friend. In times of economic crises, emotional reactions can impact and endanger financial decisions (Figure 1). Investors tend to fluctuate between the poles of greed and fear. Right now is a time of heightened fear. The fear about our collective health is real. We have real control over how we follow personal hygiene, social distancing, and other guidelines. However, the control each of us has on the economy and, by proxy, the stock market is negligible.
There is an old saying that the stock market has correctly predicted ten out of the last two recessions. With the stock market opening down today after falling into correction territory yesterday, this saying has never been more timely.
Utilizing his tax background and years of sharing financial concepts and strategies with clients, Rick started his own firm, Durbin Bennett, in 1987. While many are daunted by the complexities of investing and finance, Rick understood these concepts could be broken down into simpler parts and better communicated to clients.
With several individual retirement account (IRA) options available to investors, it’s important to understand how each IRA works and which is most appropriate for you. In this piece, we’re going to dive into the Backdoor Roth IRA conversion.
If you are interested in investing in an Opportunity Zone, you should consider weighing the benefits and risks. In our previous blog post, we shared some basic information regarding Opportunity Zones and how they work.
If you have been curious about Opportunity Zones, you aren’t the only one. We’ve been researching this topic too and felt it important that we share some helpful knowledge to our clients as well as any investors considering this as a potential investment.