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How to Set Yourself up for Success in 2023

Family shaking hands with financial advisor for success in 2023

It is a new year, a new beginning, so start the year fresh. Put last year behind you and make plans that focus only on your new goals. Do not sabotage your plan by looking backward. If you do, you probably will not achieve your desired results. This is where recency bias comes in. The past is the past – leave it there.

Do not let recency bias drive your decision-making. By that I mean do not look at how your portfolio performed last year when deciding what to do now. This leads to several conclusions that only sabotage successful wealth accumulation. Do not assume that if your portfolio was down that everyone’s portfolio was down. That is not true. Do not believe that if stock markets were down that everyone will experience negative returns no matter who manages the money. Again, that is not true. Your results will depend on who you work with and how your investments are managed. Do not believe that if markets were down last year that the trend will continue this year. While this is possible, it does not happen very often. In fact, most of the time markets rebound and this turns out to be an ideal time to invest. When things look bleak that usually means opportunity is knocking. Markets have consistently rewarded investors that invested when markets were down. Success comes from having a good plan and sticking to it.

So, look for an experienced Financial Advisor to partner with so that you can improve your financial situation going forward. Our clients were quite happy with their results in 2022. We again outperformed the markets and most of our clients ended the year with positive results despite the negative markets. That is because we offer personalized solutions rather than one size fits all retail products. We guide our clients to avoid mistakes like recency bias. We work with them to help them build wealth successfully and consistently, while keeping them on track to achieve their goals.

There is no better time than now to get a no-cost or obligation-free second opinion.

Contact us and start this year on the path to success.

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