Many dream of having a big house, a luxury car, and a gorgeous lifestyle. And they think that hard work and sincerity can help them achieve their dream. What they fail to realize is that even with all the hard work and sincerity, they may not be able to achieve it – unless they pay attention to one of the essentials – personal wealth management.
What is wealth management? And why is it important? Personal wealth management involves taking the right steps at the right time to ensure you are on the path to financial stability. And it is important to focus on it right NOW if you want to have a secure future in regards to your finances. Here are the five most important personal wealth management tips to help you secure a financially stable future. Tip 1: Plan your income and expenditure. But even before you sit and chalk out your budget, so some extensive research to make sure that what you get paid is what you are worth. Being underpaid, by even a few hundreds of dollars can affect your finances a great deal. Next, focus on what you earn on a monthly basis. Add to it income from any other sources. Now, determine your chief monthly expenses and try to find out where you can make a cut. Remember – a penny saved is a penny earned! Read Article: http://www.theelpodcast.com/5-personal-wealth-management-tips-financial-stability/ This article provides some insight about liquid vs. traditional hedge funds, and alternatives.3/27/2017
In addition to accessing the right alternative strategies, investors must also focus on accessing the right managers within those strategies. While we believe certain strategies can fit into a mutual fund format, several major questions remain for the investor such as: How good are the managers and will they be successful going forward? What is their edge and how repeatable and sustainable is that edge? How do they successfully implement ideas into a portfolio construct?
Given the large dispersion of returns among managers of hedge funds and other alternative strategies, we believe that manager selection is critical in alternative investing. Because traditional hedge fund vehicles offer managers greater flexibility in portfolio implementation, this arena typically attracts the industry’s highest quality managers. Related: Liquid vs. Traditional Hedge Funds and Alternatives As a result, this can lead to negative selection bias among hedge fund managers who choose to manage liquid mutual funds. Certainly, there are high-quality managers who run liquid vehicles, but the concentration of these managers is likely to be considerably lower than in the traditional hedge fund space. Read Article: http://www.wealthmanagement.com/alternative-investments/liquid-vs-traditional-hedge-funds-and-alternatives-accessing-right-managers Being knowledgeable about money management, budgeting and finance is no guarantee of success in life.
But ignorance about such concepts often comes at great cost. When it comes to financial literacy, however, the U.S. gets a failing grade at least by one count. The U.S. ranked 14th in a 2015 global study conducted by Standard & Poor’s Ratings Group and others, with a financial literacy rate of 57%. Read Article: https://www.wsj.com/articles/should-college-students-be-required-to-take-a-course-in-personal-finance-1489975500 |
Ronald Luyo
Ronald Luyo is a wealth manager, tennis player and event planner living in New York City. Archives
April 2017
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