Tag Archive for: Millenials & Young Professionals
https://prosperion.us/wp-content/uploads/2020/02/rollercoaster-e1582906425919.jpg 825 1496 Administrator https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Administrator2020-02-28 09:19:222020-02-28 09:20:02A Note to Clients on Virus Volatility
As I’m sure many of you are aware, this past week has been a difficult one for investors. The broad market indices have seen swift and dramatic drops, leaving many scared, confused, and upset. Make no mistake; it is moments like these that define all of us as investors. Fear is an emotion, and one that can quickly snowball into an all-out panic. We’ve often said your behavior as an investor will ultimately have a far greater effect on your outcome than when or how you are invested. This is one such moment.
https://prosperion.us/wp-content/uploads/2020/02/campbells-soup.png 667 1000 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2020-02-18 14:43:022020-02-19 11:46:11Improving Investor Behavior – Campbell’s Soup & Rising Income
Cold winter weather means it is soup season here in Colorado, and none feel more familiar than Campbell’s Tomato Soup. Campbell’s tomato soup is an excellent benchmark for understanding the impact of the persistent enemy of all investors: inflation. For more than 100 years, the size hasn’t changed, but the price sure has. About 45 years ago, in 1974, the soup cost about $0.12 per can. Today, it retails for about $0.87 per can. That points to an average inflation rate of 4.3 percent. Forty-five years may sound like a long time, but that’s about the length of a typical retirement.
https://prosperion.us/wp-content/uploads/2020/01/steve-booren-forbes-top-advisor.png 1328 2732 LPL Financial https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png LPL Financial2020-01-31 08:45:262020-01-31 08:45:26PRESS RELEASE: Steve Booren Recognized in Forbes as a 2020 Top Wealth Advisor in Colorado
DENVER, Colo. — January 30, 2020 – Steve Booren of Prosperion Financial Advisors was recently ranked No. 26 in Colorado in the 2020 Best-In-State Wealth Advisors list published by Forbes. According to Forbes, the annual list spotlights…
https://prosperion.us/wp-content/uploads/2019/12/sp500decade2.jpg 2060 4000 Administrator https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Administrator2019-12-18 13:25:512019-12-20 11:19:29The Decade in Review
As financial advisors we’re constantly advocating for investors to maintain a long-term view. We consider it to be fundamental, not only as an example of good investor behavior, but as a way of minimizing the emotional toll of “riding the rollercoaster”. But what does it mean to have a long-term perspective? How long is long enough?
https://prosperion.us/wp-content/uploads/2019/12/worlds-worst-market-timer.jpg 929 1500 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2019-12-16 14:50:262019-12-18 14:59:41Improving Investor Behavior – The World’s Worst Market Timer
Do you ever feel “the curse” of investing at precisely the wrong point? Like you invested too late, at the wrong time, or maybe you’re just unlucky? Let me introduce you to Bob – the World’s Worst Market Timer.
https://prosperion.us/wp-content/uploads/2019/11/tv-picture.jpg 755 1500 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2019-11-20 13:22:122019-11-20 13:22:12Improving Investor Behavior: Investing time now will pay dividends later
The average American spends more than 85 hours per month watching TV. The same person will likely spend about 265 hours sleeping and 228 hours working. Know how much time they’ll spend working on their finances? About 1.8 minutes, (yes, that works out to 96 seconds) per day.
https://prosperion.us/wp-content/uploads/2019/11/sharp_knife_of_compounding_interest.jpg 747 1500 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2019-11-01 13:00:112019-11-01 13:00:11Improving Investor Behavior: The Sharp Knife of Compound Interest
As investors, we seek to understand and control compound interest. Like the knife, when used correctly, compound interest is a powerful tool. Even better, the three variables behind compound interest can be put to work for anyone, regardless of income or amount saved.
https://prosperion.us/wp-content/uploads/2019/09/clock.jpg 646 1500 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2019-09-20 11:21:462019-09-20 11:21:46Improving Investor Behavior: The Price of Time
Money is a resource; there can always be more of it. But time is finite, and there is no getting it back once it’s gone… or is there?
https://prosperion.us/wp-content/uploads/2019/07/superheros.jpg 476 1000 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2019-07-22 12:19:352019-07-22 12:19:35Improving Investor Behavior: Strengthen Your Financial Superpowers
My son and I were in the car driving to the store as he struggled to plug in his phone with a USB cable. He flipped the cable back and forth a few times before it finally slipped in. “If I had a superpower, I hope it would be to knowing…
https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png 0 0 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2019-04-23 12:31:592019-06-18 12:10:16Improving Investor Behavior – Managing Your Time Like Money
As a financial advisor, I am typically hired by clients to help them manage their resources. Most often, these are financial resources including cash, investments, etc. Sometimes I help people to manage their business resources such as connecting…
https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png 0 0 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2019-01-20 13:18:292019-06-18 12:11:00Improving Investor Behavior – Learn to Love a Falling Market
The financial markets have given investors quite a ride in the past few months. Not only have we seen a drop in the prices, but the volatility and multiple-percentage point days seems to have investors feeling a little seasick. The first thing…
https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png 0 0 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2018-09-16 13:03:242019-04-08 13:05:35Improving Investor Behavior – Fear of Missing Out
When you are stuck in traffic on the interstate, creeping along, do you find yourself wanting to switch from one lane to another? Do you glance to the left and see the “fast lane,” and are envious of how quickly they are moving? You look…
https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png 0 0 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2018-08-19 12:58:332019-04-08 13:01:50Improving Investor Behavior – The Prosperity Mindset
Wealth is a mindset. In my years as a financial advisor I’ve worked with many wealthy individuals who have everyday-type jobs. From bus drivers to teachers, entrepreneurs to an administrative assistant at the Chamber of Commerce, I’ve…
https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png 0 0 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2018-05-18 12:41:052019-04-08 12:43:33Improving Investor Behavior – Make Steady Savings Your Strategy
There’s $15 on the line, and your buddy is stepping up to a 10 footer for a birdie on the 18th hole. It’s a slippery putt, but not slippery enough. As he takes his shot, human nature kicks in. “Miss it, miss it,” we say to ourselves.…
https://prosperion.us/wp-content/uploads/2016/05/social_media_investing.png 425 758 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2016-05-18 20:36:372017-05-22 15:06:59Social Media – Helping or Hurting Your Investment Behavior?
During a recent client meeting we ended up on the subject of social media, and the effect it can have on a business. Unfavorable press coverage led to an echo of bad news on social media among this client’s customers, and it was continuing to harm his business with no end in sight. I was curious about the public’s persistent reaction, and why he believed the story was still in the news cycle many weeks later. Was his customer base being fickle? Were competitors spreading false and redundant stories? His response: social media. Once a key marketing strategy for his company, social media has quickly turned into a sore spot.