JGP Blog

We’ve all heard the phrase “get rich quick” and the onslaught of advice about how to create a strong financial foundation. But what should you do if you already have a strong financial foundation and want to take your wealth management strategy to the next level? As a high-net-worth individual, you may have already accumulated wealth, but that doesn’t mean you can’t cultivate positive financial habits. Here are five tips to maximize your wealth and protect what you’ve already built.

Investors are understandably nervous about their investments and their purchasing power. If you are worried about your portfolio, you’re not alone. But during stock market volatility, it’s important to keep a level head to avoid financial mistakes.

Try as we might, it’s impossible to live a life without mistakes. If you’re lucky, the mistake is minor and provides an opportunity to grow. Financial mistakes, on the other hand, almost always cause some pain, and they can have potentially devastating effects down the line.

Inflation headlines are the norm these days. It didn’t come as a surprise to many that after months of being told the current inflation crisis was transitory, Federal Reserve Chair Jerome Powell announced that we can expect high inflation to continue through 2022. What may have seemed like a slight inconvenience at first is now becoming a much larger issue as prices keep soaring with no clear end in sight.

As we enter 2022, we are nearing the two-year mark of the COVID-19 pandemic that shook global economies and markets; and as new strains of varying concern continue to emerge, some are wondering if this will transition from being a pandemic to an endemic. Only time will tell, but for now, we know the official “return to office” remains elusive, supply chains remain constrained, demand remains exceptionally strong, and global central banks are starting to rein in their ultra-accommodative monetary policies.

We have no lack of options these days. Whether it’s choosing a restaurant or finding a doctor, there are so many choices that it’s easy to feel overwhelmed and doubt your decision. When it comes to choosing a financial advisor, the stakes are even higher. How do you know which one will be the right fit for your situation or personality? How do you know if you’ll like them or work well with them?