Check Your Personal Financial Ratios
When reviewing the financial health of a
company, it's common to look at financial ratios, such as earnings
per share, price/earnings ratios, book value, and total return.
The reason financial ratios are so popular is they give you a
means of evaluating financial information, while allowing you
to track changes in a company's performance over time. Consider using the same concept to assess
and track your personal financial situation.
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Use a Budget to Control Spending
First, keep this in mind - almost no one
enjoys the process of analyzing and budgeting expenditures. But
inefficient and wasted expenditures can be major impediments to
accomplishing your financial goals. It is difficult to manage
your money if you don't know how much you have or where it is
going. Consider these steps when developing your budget.
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The Benefits of Dollar Cost Averaging
Dollar cost averaging involves investing
a set amount of money in the same investment on a periodic basis.
Since a fixed amount of money is being invested, more shares are
purchased when prices are lower and fewer shares are purchased
when prices are higher. Of course, whether dollar cost averaging
produces a higher return than investing a lump sum immediately
depends on whether the investment's price rises, declines, or
fluctuates over the investment period.
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Keeping Your Expectations in Line
When designing an investment program, your
expected rate of return is a critical element in determining how
much to invest to meet a future goal. Since no one can predict
future returns, the expected rate of return is typically estimated
based on an analysis of past returns for various investments.
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Take the Emotion Out of Selling
Selling an investment can be an emotional
decision, especially if the investment has experienced a loss.
Many investors can't stand the thought of selling at a loss, preferring
to wait until the investment rebounds to the breakeven point.
However, the investment may not rebound to that level or may take
a very long time to do so. In the meantime, you could have been
invested in other alternatives with better prospects.
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David K. Sebastian, CFP®, and his team of experts at The Physicians Wealth Management Group specialize in working with individual physicians and group medical practices. David is considered to be one of the top financial advisors in the country with more than twenty five years of Wall Street experience as a chief investment officer, portfolio manager, institutional bond trader, and estate planning, benefits planning and retirement consultant.
Commitment to his clients’ financial needs and well being is a primary motivation for David.
The Physicians Wealth Management Group was specifically created to address and manage all of the unique financial challenges that doctors are facing both individually and through their group medical practices.
Feel free to contact me at
www.physicianswealth.com or
dsebastian@sfr1.com
or call me at (973) 285-3600
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