Honored to be quoted in the Bloomberg Wealth newsletter today on “The Best New Year’s Resolutions Start (Very) Early.”
You can READ the full article here.
Thanks to Charlie Wells for including me!
#JonathanOnMoney
“…There is a strong case for doing this now with your finances. Think you want to work with a financial adviser next year? It takes time to find one who you like, trust and has time on their calendar. To kickstart your working relationship, Jonathan Shenkman of ParkBridge Wealth Management recommends sending some emails now to prospective advisers.
His “why wait” approach extends to other money goals, too. Automating savings or investment account contributions now will limit the risk of procrastination or other emotional barriers from getting in the way, Shenkman says. Plus, it can help you figure out how much you can sustainably allocate across accounts.
“For example, if I was looking to build my nest egg more aggressively, I would schedule automatic monthly deposits to go from my checking account to my investment account at a set time every month and have the funds automatically invested,” says Shenkman.
That said, advisers generally recommend against making reactive goals based on hypotheticals. There is no doubt the incoming US presidential administration is making a lot of noise about implementing tariffs that could impact the price of big-ticket consumer items. But unless you really need that dishwasher or an electric vehicle now, don’t run out and buy one.”