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Ask me anything.
Is it more important to invest or pay down debt?
When it comes to paying down debt, I believe it does depend on what type of debt you are looking into. I believe that all unsecured debt (higher interest rate) should be paid off prior to investing. When it comes to lower interest rate debt (2-4%), such as a mortgage, investing instead may be more beneficial. Everybody’s situation is different, so this could change with certain circumstances.
How much risk is right for me and my family?
There is no set-in-stone answer on this question. Everybody’s needs and risk tolerance is different. This is something that also may change with certain life events that happen. This is where a financial advisor can be very beneficial. We can help clients create a strategy to make sure they are at their own acceptable risk tolerance.
Should I have stocks, bonds, or both?
I believe having the right mixture of both is key to receiving a desired outcome toward retirement age. It’s important to change the percentage in each product throughout a person’s lifetime as well. Younger individuals can handle more risk with having a larger percentage in stock/equity products. As the individual ages, bonds become a more conservative approach to preserve capital.