Markets are soaring to all-time highs as the world awakes from its COVID slumber. Year-to-date, the Dow Jones and S&P 500 hit record highs, and the NASDAQ is not far behind. Since the Covid outbreak, all three indices have performed well.
However, if you're not saving money or can't control your spending, you will never build generational wealth. Saving and spending are the only two things you can regulate. Market forces drive stock prices and interest rates.
Don't worry about outperforming the market. If you save and invest regularly, the market will take care of itself and bring you along for the ride.
April 5, 2021
Bill Parrott, CFP®, is the President and CEO of Parrott Wealth Management in Austin, Texas. Parrott Wealth Management is a fee-only, fiduciary, registered investment advisor firm. Our goal is to remove complexity, confusion, and worry from the investment and financial planning process so our clients can pursue a life of purpose. Our firm does not have an asset or fee minimum, and we work with anybody who needs financial help regardless of age, income, or asset level. PWM's custodian is TD Ameritrade, and our annual fee starts at .5% of your assets and drops depending on the level of your assets.
Note: Investments are not guaranteed and do involve risk. Your returns may differ from those posted in this blog. PWM is not a tax advisor, nor do we give tax advice. Please consult your tax advisor for items that are specific to your situation. Options involve risk and aren't suitable for every investor.