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Improving Investor Behavior – Deciding on Enough!

man praying on top of mountain

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This article originally appeared in the Denver Post, July 18th, 2021.

At a party given by a billionaire on Shelter Island, the late Kurt Vonnegut informed his friend author Joseph Heller that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel, Catch-22, over its entire history. Author Heller responded, “Yes, but I have something that he will never have – enough.”

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Barron's Top Financial Advisor and recognized as a Forbes Top Wealth Advisor in Colorado.

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5 Important Actions To Take During Financial Literacy Month

piggy bank

Happy Financial Literacy Month! Financial literacy is the ability to understand your comprehensive financial situation and make effective, optimal decisions using all the financial resources you have available. Financial literacy is a lifelong learning process. It is not something you can learn from a single book or course, and even professionals who have degrees in finance continually improve their financial literacy.

Therefore, Financial Literacy Month is an annual opportunity to reflect on your personal finances, celebrate the financial milestones you’ve achieved, and challenge yourself to commit to ongoing education about personal finance. With that in mind, here are 5 actions you can take to celebrate Financial Literacy Month and improve your knowledge of your personal finances starting now.

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Nelisha Firestone

Nelisha Firestone

As a mother and business owner, she knows life can get busy and is full of distractions. However, financial success doesn’t happen without some meaningful planning first. No matter your stage of life, she will help you connect with your goals and craft a roadmap to pursue financial independence Nelisha has 13 years in the financial services industry. She began her career at Edward Jones in 2004 then moved her practice to LPL in 2007 where she worked primarily out of the Coors Credit Union providing advice to their membership base. She’s married to a Colorado native and is mother to two young Daughters, Addison and Eden. They love to spend time in the great outdoors hiking, skiing, and camping to name a few.

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Improving Investor Behavior: This Spring, Grow Your Garden and Your Finances

Spring Flowers

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This article originally appeared in the Denver Post, April 18, 2021.

Spring puts me in a mood to organize the yard. It’s nature’s way of encouraging people to clean out the clutter and ready the garden for new growth. This approach is a good way to view your finances as well. Take a step back and look at your financial plan like you look at your garden. Is it overgrown with weeds? Does it need a little pruning? What are you hoping to plant, and where? Will it grow well alongside the others you have planted? Each of these questions serves as easy metaphors for retirement planning.

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Barron's Top Financial Advisor and recognized as a Forbes Top Wealth Advisor in Colorado.

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Press Release: Steve Booren Recognized by Barron’s as a 2021 Top Financial Advisor

Steve Booren named a Barron's Top Advisor

DENVER, Colo.— March 25, 2021 – Steve Booren, an independent LPL Financial advisor in Greenwood Village, has been recognized as one of the 2021 Top 1,200 Financial Advisors in America, as ranked by Barron’s. Booren, Founder of Prosperion Financial Advisors was recognized as the 15 advisor in Colorado. Read more

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PRESS RELEASE: Steve Booren Recognized in Forbes as a 2021 Best-in-State Wealth Advisor

Forbes Best In State Wealth Advisor Steve Booren

DENVER, Colo. — February 11, 2021 – Steve Booren of Prosperion Financial Advisors was recently ranked No. 34 in Colorado in the 2021 Best-In-State Wealth Advisors list published by Forbes.  

According to Forbes, the annual list spotlights the nation’s top-performing advisors, evaluated based on a methodology developed by SHOOK Research. Advisors are also evaluated based on personal interviews, industry experience and revenue trends, among other criteria.

“On behalf of LPL Financial, we congratulate Steve Booren for being recognized on this year’s Forbes Best-in-State Wealth Advisors list. This past year has demonstrated that strong financial advice cannot be underestimated, and that personalized financial advice is critical in helping clients work toward achieving their short and long-term financial goals,” said Angela Xavier, LPL executive vice president, Independent Advisor Services. “We applaud Steve for continuing to raise the bar in our industry and demonstrate the value of the independent model in creating meaningful and long-lasting investor-advisor relationships.” Read more

It’s A New Year! Is It Time To Reevaluate Your Financial Plan?

pathway to 2021

A new year is often a time for fresh starts, intentional planning, and renewed motivation to conquer goals and accomplish things that are important to you. And after the year we just had, a fresh start is just what we need. As you transition into 2021 and all this year will bring, use this time to take a look at your financial plan to make sure it’s still on track to get you to your goals, no matter how many obstacles life has thrown at you lately! Here’s how to get started.

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Nelisha Firestone

Nelisha Firestone

As a mother and business owner, she knows life can get busy and is full of distractions. However, financial success doesn’t happen without some meaningful planning first. No matter your stage of life, she will help you connect with your goals and craft a roadmap to pursue financial independence Nelisha has 13 years in the financial services industry. She began her career at Edward Jones in 2004 then moved her practice to LPL in 2007 where she worked primarily out of the Coors Credit Union providing advice to their membership base. She’s married to a Colorado native and is mother to two young Daughters, Addison and Eden. They love to spend time in the great outdoors hiking, skiing, and camping to name a few.

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Improving Investor Behavior – Hindsight in 2020

Marquis displaying "The World is Temporarily Closed"

Note

This article originally appeared in the Denver Post, December 20th, 2020.

They say hindsight is 20/20, and as we make the year 2020 hindsight, it’s a good time to reflect. What did we learn? What surprised us? How can we use our past to make our future bigger and better?

It was former Secretary of Defense Donald Rumsfeld, who said it’s the “unknown unknowns” that get you. Unlike a “known unknown,” something we expect but don’t quite know the outcome, an unknown unknown is something no one could have predicted. The election was a known unknown: somebody would get elected; we just weren’t sure who. The circumstances may have been unusual, but there was going to be an outcome that we could anticipate.

An unknown unknown is something like COVID-19: something that comes out of left field and creates uncertainty through its mere existence. We did not understand its nature, the impact, the contagiousness, how to treat it, who would be the most vulnerable, what the effect would be on our healthcare system or how people would react to it. Even ten months later, there is still much we don’t know. Read more

Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Barron's Top Financial Advisor and recognized as a Forbes Top Wealth Advisor in Colorado.

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What Are You Doing on November 4th?

Capitol Building

Election Day, Tuesday November 3rd, is only a week away. While 2020 has been historic, it seems that everyone has a dramatic expectation of what will happen in the investment markets, as if it will be the “next” big 2020 disruption.

This morning I scheduled an appointment with my dentist. While the office’s operations coordinator looked at the upcoming weeks, she asked me “What are you doing on Wednesday 11/4?” Obviously, she was inquiring about my availability, but given that I have been thinking about and discussing the elections and markets with regards to next week as often as I have, my first response was….”I’m going to take a deep breath and proceed with my regular Wednesday routine.” As you can imagine, she was a bit confused by my answer, and expected me to discuss times that I could make it in to the office. I apologized as I laughed with her, and explained that the response was automatic with regards to the election and the investment market conversations I had been having around the same time period.

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Pat Alfano

Pat Alfano

Pat joined the Prosperion Financial Advisors team in August 2017 as a part of the Anderson team, and brings ten years of experience in the financial services industry. Starting out as an “advisor to advisors” in 2007, Pat developed his industry experience by helping advisors bring solutions to their clients with mutual funds, separately managed accounts, insurance based products, and employer sponsored retirement plans. Pat started working with clients of his own in 2015 as an advisor to individuals and institutions, and has enjoyed being able to deliver goal focused results. As an advisor, Pat believes that every individual and group deserves quality financial advice and planning regardless of their stage in wealth accumulation or distribution. As an advisor, Pat develops customized strategies for individuals and organizations in light of their unique goals and aspirations.

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Improving Investor Behavior: Keep Politics Out of Your Portfolio

I voted stickers

Note

This article originally appeared in the Denver Post, September 20th, 2020.

With the election a short 45 days away, the news stream is unrelenting. Political TV ads, postcards, and of course those phone calls during the dinner hour – it’s an all-out media assault designed to convince you that if the “other guy” gets elected, the world is sure to end. It’s enough to elicit one of three emotional responses: either anger and outrage toward the opposition and confirmation bias toward your selection, utter fear and terror at what may or may not happen, or complete apathy toward the whole process. Regardless of where you stand, it’s important to recognize the effect that this election might have on your portfolio… or lack thereof.

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Barron's Top Financial Advisor and recognized as a Forbes Top Wealth Advisor in Colorado.

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Improving Investor Behavior: Blind Spots & Confirmation Bias

Person holding viewing glasses

Note

This article originally appeared in the Denver Post, July 19th, 2020.

We talk a lot about perspective in this article. Our perspective is the lens through which we view the world. It is our way of framing everything we see and ultimately defines how we react to what life throws at us. We believe what we believe because of our past experiences and perception of reality. In finance, investors often share their perspectives (albeit usually too much), which gives us untold insight into how people may be thinking at any given time.

The perspective du jour is that markets are not accurately pricing honest valuations (i.e., stocks are overpriced). But is this accurate or a blind spot in our perspective?

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Barron's Top Financial Advisor and recognized as a Forbes Top Wealth Advisor in Colorado.

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