One of the major goals we often help clients plan for is financial independence. Imagine the freedom of knowing you do not have to work. You would be free to start the company you have always dreamed of, serve an organization you are passionate about regardless of pay or take an extended trip with your family or friends. Maybe you would worry less about money and the minutia of your daily finances.
It's an interesting question isn't it? Which is currently worth more money, your home or your 401(k)?
It's sort of a trick question. Sort of. The point is, if you had to tell someone what your two largest financial assets were, there's a good chance you would list your home and your 401(k) in some order.
First the good news: the House and Senate passed a new budget deal last week that suspends the debt limit until 2017 and increases funding levels for a number of federal programs. President Obama signed the deal into law on Monday, avoiding a government debt default and reducing the risk of a government shutdown in December.
How often have you seen a news headline that looks something like this: “Dow Plunges Triple Digits?” Makes for a great headline, but a better way of saying the same thing is, “Dow Ends Down 0.6%.” Not quite the same attention grabber, is it?