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Every meeting we have with clients includes a line item on the agenda: Fire Drill. What would you do if the market dropped significantly tomorrow? What would that look like for you? For years now it has felt like an unnecessary discussion…
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Just 30 days ago, on Feb. 18th, markets were at all-time highs. Today, fear grips the market and recession is at the top of every financial pundits’ mind. Benjamin Graham, said to be one of the best investors of all time, and a mentor to Warren Buffett reminds us: Control what you can control: yourself, your emotions and your response (or behavior) to those emotions.
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A lot can change in 30 days. One short month ago, markets were knocking on the door of all-time highs, businesses were doing well, and Joe Biden was behind several candidates in the Democratic primaries. Oh, how things change quickly. Very…
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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.
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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…
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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?
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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.
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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.
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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.
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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?
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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…
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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…
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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…
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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…
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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…
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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.…
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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.
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Explore the unique history of Denver as told by one of its eminent urban planners Ken Schroeppel. Why did Denver take the shape it did? What will it look like in the next 10 years? Why is the traffic so darn bad lately? Ken will explore all of these ideas and more as he walks you through new projects helping to shape the face of Denver and how past initiatives contributed to our wonderful city. This workshop was originally presented at Prosperion EDU 16.
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https://www.youtube.com/watch?v=YQrmzEwo_Cg I believe it is imperative for investors to understand the difference between volatility and risk. Though often used synonymously, these are two very distinct ideas. We think success can be increased…
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https://www.youtube.com/watch?v=Bbq1ck-bSTk In the last year, I’ve had the realization that there are far too many people living in the most financially impactful years of their lives who lack the necessary planning and guidance to make…
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https://www.youtube.com/watch?v=WqYGlBUN_Ns Why do you invest? It’s a simple question, but one so few people consider. Investors often fail to understand their reason for making investments, for saving money, or for what they invest in.…
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https://www.youtube.com/watch?v=BnjtzOVuQoU If January taught us anything, it was that 2013 was truly an exceptional year for the equity market averages. Falling uncertainty, solid corporate earnings, and a rebounding economy all contributed…
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https://www.youtube.com/watch?v=V8wBkORR3Gw When I think of what I would share with a recent college grad, saving comes first to my mind. When a person is young they have a distinct advantage – time. In the financial world, we use something…
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https://www.youtube.com/watch?v=dZUs-7kE_00 You’d be hard-pressed to find someone without a smartphone or tablet these days. Companies like Apple and Samsung have redefined how we communicate, what we rely on, and our ability to access information.…
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https://www.youtube.com/watch?v=K4LNvy9FfbU As the flurry of excitement winds down for those heading back to college, the realization starts to settle in: college is expensive. The costs don’t stop with tuition fees. From book costs to…