Sherman Wealth Management Newsletter September 2014

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The Wealth Management Newsletter

We hope you had a relaxing summer and are now ready to head into the last few months of the year feeling rejuvenated. As back-to-school is upon us, we are reminded of our responsibilities, which include end-of-the-year financial planning and making sure we are on track to reach our goals.  In this Sherman Wealth Management newsletter we talk about investing in your children and teaching them about finances.

By now I am sure you have all seen your second quarter, and more recently, your August statement. I think we can all be satisfied and proud of the results.  Despite the fact that each of you has different needs for which we have developed a customized financial plan, good results were achieved while staying within our strategy.  Although we have had significant success this year, it is important to keep in mind that there are underlying geopolitical risks that have yet to fully surface for the markets to potentially digest.  Further, this year has seen lower than average volatility as we head into September and October, which are historically very volatile months.  We bring this to your attention to remind you that a diversified portfolio helps to insulate you from market corrections, but to also point out that no market goes straight up and corrections can be seen as healthy for the markets.  Please contact me to make sure your current portfolio still meets your future goals and if your goals have changed with in the year, we may need to alter a portion of your overall asset allocation.  If you are not a current client and would like a complimentary portfolio analysis, contact us today.

It is also a timely opportunity to continue to teach your children about finances and investing. Back-to-school can be a good time to take account of where you are with your finances as well as making sure your children are prepared for financial success.

It is never too early to start discussing finances with your children and teach them good money habits. I suggest making ‘money talk’ a part of the everyday conversations, at the park or the dinner table, in the interest of raising investment-savvy kids.  Perhaps it might be best to start to introduce basic concepts and vocabulary with regards to saving and investing so that you lay the groundwork for your children to begin to develop the knowledge and understand the importance of money management skills.  Begin teaching your children the importance of creating financial goals. Take them to the bank and help them open a “child’s savings account.” You may choose to reward your child with an allowance in exchange for doing household chores or you help them to start a lemonade stand, ask your children to save their earnings with a personal goal in mind. Then discuss how long it will take them to reach that goal.

While you are teaching your children the importance of making smart investment decisions, go over your own portfolio and make sure you are on track to reach your financial goals this year. Reach out to Sherman Wealth Management for a back-to-school check-up and while you are focused on your children’s future, Sherman Wealth Management will focus on yours.

We hope that you have found this wealth management newsletter helpful and we encourage you to check out our blog page, for more valuable tips on savings, budgeting and overall financial  planning.

All the best,

Sherman Wealth Management