Welcome back to our blog! In our last blog post we began discussing the aspects that clients should consider before making a major financial decision, namely choosing a new financial investment. Considering a new financial investment, especially in retirement can be incredibly stressful and for a good reason. The repercussions of a bad financial move can be permanent and last for a lifetime. In our last blog, we spoke about three aspects of your financial situation that you should consider before making a new investment. Read part 1 here or we will summarize below:

  • Goals – Does your new investment align with your current and future financial goals?
  • Financial Personality – What is the margin of risk that you are willing to take?
  • The Market – How will the current market affect the investment in question?

Keep reading to learn more about everything you must consider when you are making a new investment and really any major financial decision in the Naples area.

Your Age

As you consider new investment opportunities, you must also consider your age. Not only will some investments not pay off in your lifetime, depending on your age, you may be unnecessarily jeopardizing your financial situation by taking unneeded risk or making financial investments that, simply put, will do you more harm than good. There are investments that you can make well into retirement, including investing in a life insurance policy. To learn more about buying a life insurance policy after age 50, read a post from our archives. You are never too old to start making wise and potentially lucrative financial decisions.

Your Other Investments

When choosing your next investment, you also need to consider the other investments you already have and ask yourself a few questions:

  • Do you already have an investment that serves the purpose of this new investment?
  • Would the potentially new investment better serve your needs?
  • How would this investment opportunity and the other investments that you already have work together to accomplish your financial goals?

The number of financial investments available can be overwhelming, but all exist for a reason: to accomplish a variety of financial goals working together or apart.

Financial Advice

When you are considering a new financial investment, it is best to utilize a financial advisor. Not only will a financial advisor know the ins-and-outs of each type of financial investment, they will also know how a potentially new investment will affect your current financial situation. They will also know about the current market and it’s behavior. A financial advisor will also better understand how to realistically reach your financial goals and will see both your financial strengths and weaknesses. Consider meeting with a financial advisor before you make any major financial decision.

Naples Life Insurance & Annuity Advisors

A life insurance policy and an annuity can be great investments to make at any age. Both are available in a few different types for the purpose of meeting a variety of needs. If you are considering a life insurance policy or an annuity and are wondering how that fits in with your current financial situation and your goals, contact the financial advisor of Naples Life Insurance & Annuity Advisors. Chris T. Christensen, our Founder and CEO has been in the business as a financial advisor for over thirty years and speaks all over the country, helping many find financial success through life insurance and annuity planning. Our office offers policies from major carriers and always have the goal of helping clients. To learn more about us and how we can help you achieve prosperity, visit our website.

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