[Sponsored] Stick to the Plan: Protecting your assets in uncertain financial times
Sponsored by Ellis Insurance & Financial Group
Improvising with your finances during a period of hardship isn’t a great idea. When you are investing for the long term, it’s important to chart your financial course, and stick to it if you want to weather the storm. During a crisis, nobody knows when asset prices will touch the bottom, but financial advisors can offer educated insights and a personal understanding of your specific needs.
Certified Financial Planner (CFP) and Chartered Advisor in Philanthropy® (CAP) Daryl Ellis keeps up with current insurance and financial product trends. Offering personalized service and genuine concern for his clients, Daryl earns their trust and helps clients achieve their insurance and financial goals. Daryl and the Ellis Insurance and Financial Group uses a coordinated approach to work on your behalf with taxes, law, life insurance, accounting, and philanthropic planning in order to formulate a more holistic course of action.
While you can’t always predict these events, you can prepare your portfolio to minimize the impact on your financial stability and achieve peace of mind. To connect with Daryl and the Ellis Insurance and Financial Group, visit ellisfinancial.com or call 225. 925.8312.
1. DON’T PANIC.
Panic is what fuels a financial crisis and your success depends on making calm and calculated decisions. With sound financial advice, a crash can actually be a great opportunity to invest. Visit ellisfinancial.com to access helpful resources and connect with an expert.
2. DON’T BELIEVE EVERYTHING YOU HEAR.
Flashy headlines and barking television hosts can be very persuasive with their opinions. Market movements are difficult to predict—don’t let short-term swings affect your future. If you’re tempted to make a radical change to your investment portfolio, discuss a sensible, tailored investment plan with your advisor to help meet your long-term goals.
3. TIMING IS EVERYTHING.
It is very difficult to time the market consistently. Unsuccessfully timing key moves can lead to missed opportunities. Investing in securities always involves risk of loss, and holding a portfolio of securities for the long-term doesn’t necessarily ensure a profitable outcome—it’s best to talk it over. Daryl and his team can help you make educated decisions tailored to your goals.
4. MIX IT UP.
Diversification is extremely important when investing money, especially during a financial crisis. Holding more than one type of investment—stocks, bonds or cash in a portfolio—can help reduce the risk because these generally don’t react the same in changing economic or market conditions. Diversification does not eliminate the risk of potential investment losses, but during the 2007–2009 banking and credit crisis, investors who had portfolios composed only of stocks suffered large losses, while those who had a mix of bonds or cash in their portfolios may have experienced less severe fluctuations in value.