TJ Weir - Financial Advisor

Your actions as an investor to a market drop actually start before you see a decline.

When you initially choose how to invest your money you should understand your risk tolerance and time horizon. How aggressive do you want to be, and when will you need that money?

When you decide how to allocate your investments, whether it’s selecting mutual funds in your company 401(k) or your portfolio within an IRA, you should feel comfortable with that risk tolerance when the market is up and, more importantly, when the market is down.

Set yourself up how you feel comfortable, and trust that plan as the market moves.

Finally, continue to contribute to your accounts. When the market is down, it’s the best time to stay consistent. You are buying low at that time, and if you stay consistent and disciplined, you will reap the benefits as the market rebounds.

401(k) options when you change jobs:

1. Roll it into an IRA – rolling it into an IRA will give you the most options and flexibility, as your investment choices are virtually unlimited.

2. Roll it into your new 401(k) – you will then choose how your money is invested based on the investment options your new employer offers.

3. Leave it in your old 401(k) – you will not be able to contribute, but it will still be invested in your original investment choices and managed by your old employer.

Don’t lose track of the money you’ve worked hard to save. Stay on top of things as your life and career evolves and continue to be intentional about setting yourself up for success.

HIGH SCHOOL SENIORS (AND PARENTS) – DON’T LEAVE MONEY ON THE TABLE!!

2021 High School graduates missed out on BILLIONS of dollars, according to a February New York Times article.

1.7 million graduates didn’t file the Free Application for Federal Student Aid (FAFSA), leaving an estimated $3.7 billion in available Pell Grants unclaimed.

I’m not talking about student loans. I’m talking about free money that doesn’t need to be paid back. The application should take about 30 minutes to complete.

FAFSA Link:
https://studentaid.gov/h/apply-for-aid/fafsa

Article Link:
https://www.nytimes.com/2022/02/04/your-money/students-college-grants-fafsa.html

Thousands of Students Missing Out on College Grants, Study Finds The number of students filling out the Fafsa form has fallen in the pandemic, and the form is used to determine who gets federal Pell Grants, which are aimed at the needy.