Skip to main content

Alloy Silverstein Financial Services, Inc.

 (856) 667-6228   info@asfinancialservices.com
  •  
  •  
  • Check us out on BrokerCheck

 

Alloy Silverstein Financial Services, Inc.

  • Home
  • About Us 
    • Our Values & Beliefs
    • Our Team
    • Our Clients
  • Services
    • Wealth Management
    • For Individuals & Business Owners
    • For Medical & Legal Professionals
    • For Professional Athletes
  • Resources
    • Blog
    • Newsletters
    • Tools & Calculators
    • Useful Websites
    • Avantax
  • Client Logins
  • Contact

    You are here

  1. Home
  2. Blogs
  3. How can I go forward when I don't know which way I'm facing?

How can I go forward when I don't know which way I'm facing?

Submitted by Alloy Silverstein Financial Services, Inc. on June 15th, 2014

How many times have you heard some­one at a backyard party or family gather­ing bragging about that stock that made them big money? Conversely, you may even have insisted that you need to go to cash because the world is ending (we all remem­ber early 2009) and of course cash, or gold, is what some guy on television said is the only way to survive. Well, you need to nod politely and then ignore the wizard of the barbe­cue and the guy on the tube. Why? Because they are not you. Nor do they know your situation. You have your own risk aversion or tolerance, your own bills and dependents, your own needs and wants, and your own financial plan. At least I hope that you have your own plan. The reality is that many people do not have a plan, yet that is the one thing that may keep you from making emo­tional and damaging financial decisions.

Keep in mind that a plan is not neces­sarily a restriction on your ability to take a little extra risk. It can actually allow you to take more risk; but only if appro­priate for YOU. Let’s say that the stock jockey starts to tell you that you really need to get into ABC Corp stock as it may be the next big thing. You can feel the fear of losing this ‘opportunity’ creeping into your decision process.

With a plan you will have parameters that provide an idea of what will happen if you make certain decisions. Hope­fully, this information will help to guide you to the decision that helps you to achieve your long-term goals. In other words, you can­not really know how much risk is ap­propri­ate for you or what actions to (not) take if you don’t know what your financial posi­tion is at the moment. Contact your finan­cial professional. Get a plan togeth­er. It is time for you to have all the infor­mation that you need to make good deci­sions when opportu­nities and challenges arise.

   


by Ronald Donato, Jr., CFP®, MBA
Director of Financial Services

Tags:
  • financial planning

Book a Meeting

Tell a Friend

Looking to learn more?

Get in touch today

Contact Us

Additional Information

  • Sitemap
  • Legal, privacy, copyright and trademark information

Contact Us

Latest news

  • Who Won and What Could It Mean?
  • When Cash is King.... and When It Isn't
  • I Am Planning.... To Be Surprised

Avantax financial professionals may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Securities offered through Avantax Investment Services SM, Member FINRA, SIPC.
Investment Advisory Services offered through Avantax Advisory Services SM.
Insurance services offered through an Avantax affiliated insurance agency.

The Avantax family of companies exclusively provide investment products and services through its representatives. Although Avantax Wealth ManagementSM does not provide tax or legal advice, or supervise tax, accounting or legal services, Avantax representatives may offer these services through their independent outside business.

This information is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation.

Content, links, and some material within this website may have been created by Advisor Websites for use by an Avantax affiliated representative. This content is for educational and informational purposes only and does not represent the views and opinions of Avantax Wealth ManagementSM or its subsidiaries. Avantax Wealth Management is not responsible for and does not control, adopt, or endorse any content contained on any third-party website.

© 2021 Alloy Silverstein Financial Services. All rights reserved.

Website Design For Financial Services Professionals