Now's the time of year when many people dust off their brooms, rags and vacuum cleaners in preparation for annual spring cleaning. According to the most recent American Cleaning Institute study, a whopping 72% of American adults polled live in a household where tidying occurs each spring. In the UK, the ritual is so ingrained in the culture that there's a National Spring Cleaning week every March.
For income-seeking investors, dividend stocks are a low hanging fruit that can produce sweet results. However, investors should be selective to ensure they don't pick dividend-paying stocks that are crab apples in disguise.
With interest rates expected to tick up this year, some of our clients have expressed concern about the bond portion of their portfolio. That's because as interest rates rise, bond prices fall, meaning investors' existing bonds will be worth less than they were before.
When it comes to investing, many people recognize the need to plan for the long-term, but views can differ about how far ahead they really should be thinking. A recent study by New York Life put a number to it; the study found that a sizable majority of Americans—57%—are making long term plans. However, they define "long term" as just 4.4 years on average.
As we prepare to ring in the New Year, now's an ideal opportunity to make a fresh start and correct some common investing mistakes that could put a damper on your long-term financial health. On that note, here are a few bad investment habits to steer clear of in 2017.