HOUSTON – We're half way through the year and that means it's time for a financial checkup.
Private wealth advisor, Trevor Shakiba shares 5 steps to consider when checking your progress in today's Shakiba Report.
So I'm calling it a status report... What's really key here is brutal honesty. How are things going? Have you made progress?" said Shakiba.
This is really the midway checkpoint of where we all are financially since January, 2019.
Number one, is your overall net worth more than what it was at the beginning? It should be because the stock market has done so well this year. Secondarily, the most important perhaps is credit card balances. Are they lower than where they started? What about your cash reserve?" said Shakiba.
THE SHAKIBA REPORT
- STATUS UPDATE
- Have you made progress?
- Is your overall net worth up or down?
- What are your balances for your credit cards, savings account and investment accounts?
- CHANGE YOUR MINDSET
- Don't spend what you don't have.
- Are you budgeting?
- Pay attention to the small details.
- LET'S HAVE A COMPETITION
- Cable, internet, electricity, etc.,
- Everything is negotiable.
- Eliminate something which you aren't using.
- COMPREHENSIVE REVIEW OF ALL INSURANCE COVERAGES
- Life, disability, health, home, auto, long-term, etc.,
- How much and what type is appropriate?
- INCREASE YOUR SAVINGS AND CONSIDER REBALANCING
- Wealth is created in increments and over time.
- After a significant increase in the stock market is your asset allocation still appropriate?
- You might have more risk in your portfolio now than you should.
For more information or to request a complimentary consultation with The Shakiba Group, click here or call 281-724-9917.
The initial consultation provides an overview of financial planning concepts. You will not receive written analysis and/or recommendations.
Sponsored by The Shakiba Group