The end of the year is always the best time to reflect and plan. I’d like to share several financial moves you should make before the new year in order to protect your wealth and hopefully grow your wealth in a risk-adjusted manner next year.
Those of us who invested in stocks, real estate, and many other asset classes except for oil should be feeling fortunate. But don’t forget that good times seldom last forever. Never forget the Armageddon days of the 1997 Asian Financial Crisis, the 2000 dotcom implosion, and the housing + financial meltdown that began in 2008. Those of you who haven’t been investing at all better get ready to deploy capital when chaos returns, or else inflation will eat your wealth alive.
If you just started investing in the past five years, lucky you! Don’t worry. Your beat down will happen eventually. But like every beat down, things always get better over time. Look at all of us old farts who are still around.