top of page

Embracing Spring: Financial Planning, Insurance Awareness, and Market Update

Updated: Dec 19, 2023

Introduction: As the weather warms up in spring, it's not just our gardens that require attention and planning. This season offers a perfect opportunity to clean up our financial affairs, set intentions, and put things into motion for the future. At Parkmount Financial, we believe in taking proactive steps to assist in securing a stable financial future. In this blog post, we'll discuss important aspects of financial planning, highlight the significance of disability insurance, address the rise of scams targeting seniors, provide a market update, and extend our warm wishes for Mother's Day and Memorial Day.



Setting the Stage for Financial Success: Spring is an ideal time to evaluate our financial goals and take action. Whether it's contributing to a retirement account or saving for a child's or grandchild's college education, the efforts we make now can yield substantial benefits in the years to come. At Parkmount Financial, we understand the power of planning and encourage our clients to consider these aspects as part of their financial journey.


Protecting Your Income with Disability Insurance: May marks Disability Insurance Awareness Month, shedding light on the crucial role disability insurance plays in safeguarding our income. Shockingly, statistics reveal that a majority of Americans lack coverage in this area. Considering that 1 in 4 of today's 20-year-olds will experience short-term disability at some point in their careers, it becomes evident that securing adequate coverage is essential for a sound financial future. We urge you to engage in conversations about disability insurance and ensure that your coverage aligns with your unique professional capacity.


Beware of Scams: An important part of retirement planning is protecting your finances: Scammers are becoming increasingly sophisticated in their methods, targeting older individuals who may be more vulnerable to fraudulent schemes. In 2022, seniors over 60 years old lost a staggering $3.1 billion due to scams, representing a significant increase from previous years. To protect yourself and your loved ones, it's important to be cautious of unsolicited phone calls or texts containing suspicious links. The FBI advises against acting immediately under pressure and emphasizes the importance of staying informed about common scamming tactics.


Navigating Market Volatility: While stocks have shown signs of recovery this year, it's crucial to remain cautious as the markets face challenges such as a tightening banking sector and a potentially slowing economy. We anticipate ongoing volatility in the coming weeks, especially if economic indicators reveal a sluggish economy or if further intervention is required in the banking system. Despite these challenges and uncertainties, history can add context and help put things into perspective as data from history shows that past bear markets have eventually come to an end.


Celebrating Mothers and Honoring Memorial Day: Before we conclude, we would like to express our heartfelt appreciation to all the mothers out there. Your contributions and sacrifices are immeasurable, and we extend our warmest wishes for a Happy Mother's Day. Additionally, as Memorial Day approaches, we hope everyone enjoys a safe and enjoyable time commemorating the sacrifices made by our brave men and women in uniform.


Conclusion: Spring brings with it the opportunity for renewal and growth, not only in our gardens but also in our financial lives. At Parkmount Financial, we remain committed to helping you navigate the intricacies of financial planning, protect your income through insurance, and stay informed about market developments. Contact us to review your current coverage or to discuss any questions you may have. Let this season be a time of empowerment and progress towards better financial future.


Tags: fiduciary advisor, Boston financial advisor, independent advisor, independent financial advice, Scituate financial advisor, retirement planning


Disclaimer:

 “Parkmount Financial Partners LLC”  (herein “Parkmount Financial”) is a registered investment advisor offering advisory services in the State[s] of Massachusetts and in other jurisdictions where exempt. Registration does not imply a certain level of skill or training.

The information on this site is not intended as tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, or other securities or non-securities offering. This information should not be relied upon as the sole factor in an investment making decision.

Past performance is no indication of future results. Investment in securities involves significant risk and has the potential for partial or complete loss of funds invested. It should not be assumed that any recommendations made will be profitable or equal any performance noted on this site. 

The information on this site is provided “AS IS” and without warranties of any kind either express or implied. To the fullest extent permissible pursuant to applicable laws, Parkmount Financial disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability, non-infringement, and suitability for a particular purpose.

Parkmount Financial does not warrant that the information on this site will be free from error. Your use of the information is at your sole risk. Under no circumstances shall Parkmount Financial be liable for any direct, indirect, special or consequential damages that result from the use of, or the inability to use, the information provided on this site, even if Parkmount Financial or a Parkmount Financial authorized representative has been advised of the possibility of such damages. Information contained on this site should not be considered a solicitation to buy, an offer to sell, or a recommendation of any security in any jurisdiction where such offer, solicitation, or recommendation would be unlawful or unauthorized.

3 views0 comments

Recent Posts

See All

Comments


bottom of page