Happy New Year! For our January Blog, we are doing as we did last fall, rather than having a single guest author, we’ve again put together a compilation from area specialists. With the new year here, and better habits perhaps being part of many resolutions, improved financial management may be one of those goals made. We connected with several firms in Ozaukee County to have them share some of their investment advice for 2020.
Welcome 2020, and here’s to a happy, healthy, and successful New Year!
Investing your money can be puzzling, but it takes some attention to detail and some educated risks. It’s always good to have some guidance from professionals, and that’s precisely why we asked several experts from the area to give us some investing advice for 2020.
Matthew Richmond from Richmond Investment Services told us that “As you prepare for 2020, market exposure in your investment portfolios it is important to readdress your risk adjusted return expectations. Too often, especially after years of expansion, positions and managers drift. When contractions come (and they will) it is beneficial to understand how your positions will react to macro conditions and each other. To avoid surprises, talk to your advisor about risk and its relationship to potential reward.”
Betty Wellhoefer Hill, from Crescendo Wealth Management conveys to
Paul Westphal, from RBC Wealth Management Group shared these three tips for 2020:
Greg Sommersberger from The Sommersberger Group says that “in 2019, the stock market surged to all-time highs as the Federal Reserve cut interest rates and global trade tensions eased in the second half. In 2020, US political and global trade uncertainty will continue dominate the news headlines and we expect volatility to return throughout the first half of 2020. As an investor, it is important to focus on the facts and create an allocation that will better protect your assets.”
James Marshall from Spectrum Investment Advisors imparted these investment ideas for 2020 with us:
William Morse from Stifel Financial Advisors conveyed some tips for donating to charities for 2020.
“You can give even more by doing so tax efficiently. Here are some ideas to discuss with your tax and Financial Planners to see if they are right for you. Three simple ways to give more to causes of your heart in 2020:
So as the new year begins, take a little time and evaluate your current investment and tax strategies. Hopefully, these tips and ideas get you thinking about what you can do in 2020. Ozaukee County is full of great financial advisors, take time to talk to yours or if you don’t have one, consider meeting with one to examine your strategies for this year and beyond.
Thanks to the following financial management professionals that contributed to this article:
Matthew R. Richmond, MBA, Principal Officer / LPL Financial Advisor, Richmond Investment Services®
Betty Wellhoefer Hill, CFP®, MBA, President and Owner, Crescendo Wealth Management
Paul E. Westphal, CIMA®, Snr Vice President, WE Wealth Management Group, RBC Wealth Management
Greg Sommersberger, QPFC, Senior Investment Consultant, Managing Director, RW Baird
James F. Marshall, Chairman/Ambassador, Spectrum Investment Advisors
William Morse, CFP®, Branch Manager, Stifel