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Some indications that you might be dealing with a fraudulent investment include the promise of high returns with little or no risk and claims of historical performance that is overly consistent. It is not realistic to earn high returns without volatility and risk.
A primary financial goal for most people is to retire comfortably. We look forward to the opportunity to relax, pursue new hobbies, travel and spend time with friends and family. To improve your chances of having a financially worry-free retirement avoid the following pit-falls.
An RIA has the fundamental obligation to act solely in the clients’ best interest. A fiduciary must provide his or her clients a duty of undivided loyalty and utmost good faith. Additionally, a fiduciary must disclose conflicts of interest or potential conflicts of interest before and during an advisory engagement.
Review your credit report carefully, major discrepancies may be a sign of identity theft. If you see credit associated with companies you don’t recognize, accounts that you didn’t open or credit inquiries that you did not initiate, report it to the credit reporting bureau and local law enforcement.
Research shows that men are more confident than women about investing.
Review your annual expenses and establish a spending plan for the coming year. Evaluate your spending habits over the past year and identify a few areas where you are over spending. Develop a plan to reduce spending in the areas you have targeted.