BYH Content Roundup: April 2019
As lead content creator at a fast-growing financial planning firm, I write. A lot.
Each month, I create a BYH Content Roundup, featuring the latest content we produced at Beyond Your Hammock.
Here’s the roundup for April 2019:
On the Podcast
Biggie Said It Best
When you start making a significant amount of income, you’re probably going to be able to buy what you want at any given point in time. And that can pose a unique kind of problem.
Yes, it is true: mo money, mo problems. Having that much choice and freedom, if you don’t manage it well or take responsibility for it, can lead to making bigger mistakes and financial decisions that you later regret.
How to Use Thought Experiments to Design Your Best Life
Get some guidelines that will help you invest smarter so you can make your money work for you (while avoiding silly mistakes along the way). In this episode, we lead an investing 101 conversation and cover some of the most important topics you need to think about before you invest, including:
How to set up a truly diversified portfolio
What to think about when it comes to risk
Ways to set up your asset allocation (and keep it in balance)
The right mindset to have around your investments
How to manage your emotions around the markets
On the Blog
The Biggest Challenge in Creating Your Financial Plan: Finding Balance
To create balance with your money, you need to determine how much is appropriate to spend now to live your life fully. At the same time, you need to know how much you’ll realistically need to save for the long-term.
You want to make sure you can enjoy a secure financial future and not run out of money before the end of your life. Finding the “right” answer on how much you need to save depends on a number of factors… which we discuss in this post.
On the Web
I’m a Financial Planner, and I See People Set the Same Useless Financial Goal All the Time, Business Insider
Whatever it is, people tend to state their financial goals in terms of wanting more… but they don't clarify anything past that. The biggest problem with setting "more money" as a type of goal you want to pursue is that when you want more, then it becomes difficult to define what enough is. And that can be the root cause of a lot of unhappiness around your finances.