- “ Don’t be too conservative with your own investing mix (asset allocation), ” said Debra Curry, director of Investment Strategies at Yosemite Capital Managment in Tustin, California. “Ignore the tired calculations that suggest you should reduce your stock holdings as you near retirement age. There are still a potential 25 years of inflation looming when you are age 65. The older the woman, the more they tend to be far too conservative when they invest.”
- Invest in forward-thinking companies that include women in leadership and are part of the transition to the next sustainable economy. “We significantly outperform the market. That is our best secret,” said Kristin Hull, PhD, founder and CEO of Nia Global Solutions and RIA Nia Impact Advisors.
- “Consider your investing journey as if it’s a vacation. Decide on your destination, map out the directions, and take rest stops along the way to be sure you’re on track to get there,” said Michael Hoeflich, wealth manager, certified in social security claiming strategies (CSSCS) at The Financial Guys, LLC in Palm Beach Gardens, Florida.
- Nick Holeman, CFP at Betterment for Business, suggests taking advantage of low-hanging opportunities, like investing your tax refund.
- Live well within your means, suggests Debra Taylor, CPA/PFS, JD, CDFA, the principal and founder of Taylor Financial Group, LLC, in Bergen County, New Jersey. “It doesn’t sound sexy and it doesn’t sell magazines, but the number one enemy of wealth accumulation is consumption. Plain and simple. So, dedicate yourself to saving a certain amount every month.”
- Baby Boomers and Gen-Xers should consider a properly constructed municipal ESG strategy, suggests Nick Erickson, vice president at Sage Advisory. It allows you to earn a competitive, tax-exempt (be it federal only, or local/state/federal) return on the municipal bond portion of your investments.
- Christina Povenmire, CFP, MBA, says to use the target date retirement funds and use the year that you’d (approximately) like to retire. These are typically well-diversified, automatically reducing risk as you get closer to retirement. Something you can “set and forget.” Good option for unsophisticated and sophisticated investors.
- “Invest dollars each month at a given date to smooth out volatility and create a forced savings vehicle,” says Jeff Feinstein of Lenox Advisors. “When the market is down, you are buying low, and when it’s up, you are not investing a large amount. Once you get into the habit over the dollar amount leaving your bank account, you never miss it.”
- Investors looking for income as well as price appreciation should focus on dividend-paying companies that they can buy cheaply, suggested Francis Tapon, of Emperor Investments. “Owning dividend-paying companies will help Baby Boomers/ Gen Xer’s stay ahead of inflation while also helping to supplement their income.”
- “Try trust deed investing,” said Jeffrey A. Hensel of North Coast Financial Inc. It involves providing short-term loans (one to three years) to borrowers with real estate as collateral, which provides a relatively safe investment with attractive returns. The yield is typically 8-12% depending on various factors of the specific loan scenario.
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