The Fundamentals You Need For Investing Success

Presented by Fred Gaskin

We consistently encourage our clients to take ownership of their investment portfolios, and a big part of that process is settling on an investment management plan. In our opinion, what long-term investors really need are guiding principles to help them stay focused and on track to achieve their goals.

With my clients, I talk about these seven fundamentals that are essential to successful investing:

1. Establish a financial plan based on your goals. Many of us have several financial goals—save for retirement, college for our children, and a home—to name a few. The first step to making progress toward those goals is creating a plan to reach them. According to Schwab’s Modern Wealth Survey, 65 percent of Americans who have a written financial plan feel financially stable, while only 40 percent of those without a plan feel that same level of comfort.

2. Start saving and investing today. Building wealth is a

Chamber’s Economic Forecast set for March 2

From 8 to 10 a.m., Thursday, March 2, leaders from around the region will gather at the USC Beaufort Center for the Arts for the Beaufort Regional Chamber of Commerce’s annual Economic Forecast — a special networking event that shares the latest data about our region, bright spots in our local economy, and insight from an expert on today’s most long-term endeavor and for long-term investors, time in the market is more important than attempting to time the market. Your level of savings is the biggest factor in determining whether you can meet your financial goals. And the earlier you start saving and investing, the more time your contributions have to potentially grow, thanks to the power of compounding.

3. Build a diversified portfolio based on your tolerance for risk. Allocate your money across asset classes, such as stocks, bonds and cash investments, and within each asset class, across different sectors and geographies. To determine what allocation mix is right for you, it’s important to understand your tolerance for potential losses, which is dependent on your time horizon and comfort with volatility. For example, if you have a mortgage, your own business and kids approaching college, you may be less likely to ride out a bear market-given your income needs-than if you pressing issues. This is a great opportunity to gather information, make connections and have the knowledge to position your business for success in 2023.

The keynote speaker is Laura Ullrich, the Senior Regional Economist with Federal Reserve Bank of Richmond, who impressed last year with her research on economic trends, labor force, housing, and how policy affects prosperity.

The event includes a delicious breakfast and prosperity report with ticket purchase. Visit https:// bit.ly/3xAh9GV to register.

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are single and not holding any major debt.

4. Minimize fees and taxes. Markets can be unpredictable, so control what you know, such as investing fees. A seemingly small difference in fees can potentially make a big difference over time. Regularly review your statement and ask your financial advisor directly about the different fees you are paying, why you’re paying them and how they are impacting your returns and progress toward financial goals. It’s also important to always consider tax-efficient investing strategies, such as tax-loss harvesting, which may allow you to offset taxable investment gains with taxable investment losses, lowering your current tax bill and leaving you with more money to invest and potentially grow.

5. Build in protection against significant losses. If you experienced the tech bubble burst in 2000 or the 2008 financial crisis as an investor, you know it can take years to recover—emotionally and in your portfolio. Holding cash

Bay Street Realty adds Robinson

Berkshire Hathaway HomeServices Bay Street Realty Group has announced the addition of veteran realtor and broker Dennis Robinson. With nearly four decades of real estate experience, Robinson has been at the forefront of growth, development and sales across the region.

For 10 years, Dennis served as Broker-In-Charge for Fripp Island Real Estate, leading their sales team to record numbers for and other defensive assets like bonds to hedge your portfolio can help provide stability and counteract big stock declines.

6. Rebalance your portfolio regularly. Forgetting to rebalance is like letting the current steer your boat—you’ll likely end up off course. Keep your portfolio aligned with your goals and risk tolerance. Letting asset classes “drift” can eventually expose your portfolio to a level of risk that feels uncomfortable, and could cause you to make knee-jerk, and potentially costly, decisions.

7. Ignore the noise. Markets will always fluctuate in the short-term, but whether they’re moving up or down, long-term investors should ignore the noise. Instead, stay focused on making progress toward your goals and stick to your financial plan.

No investing plan is perfect for every situation, but having a proven process should provide investors the confidence to deal with uncertain times in a in a constructive way. Whether you’re the island from 2005-2007. Prior to that, he was the General Manager for Renaissance Communities in Beaufort, where he oversaw sales, marketing, and development of high end waterfront communities. He was a part of the development team at Fripp Island. Robinson received his B.S. in Business Administration and Marketing from the University retired, saving for retirement, or just getting started, having a plan makes solid sense.

Fred Gaskin is the branch leader at the Charles Schwab Independent Branch in Bluffton. He has over 35 years of experience helping clients achieve their financial goals. Some content provided here has been compiled from previously published articles authored by various parties at Schwab.

The information here is for general informational purposes only. It should not be considered an individualized recommendation or personalized investment or tax advice, and the investment strategies mentioned may not be suitable for everyone. Where specific advice is necessary or appropriate, please consult with a qualified tax advisor, CPA, Financial Planner or Investment Manager. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

Rebalancing may cause investors to incur transaction costs and, when rebalancing a non-retirement account, taxable events may be created that may increase your tax liability. Rebalancing a portfolio and diversification strategies do not ensure a profit or protect against a loss in any given market environment.

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Template: 0117-SHAD of South Carolina. He’s a current member of the University of South Carolina Alumni Association and the Association of Lettermen USC. Robinson previously served as a Member of the Urban Land Institute, is a past chairman of the Beaufort Chamber tourism committee, and is also a past member of the South Carolina Tourism Council (Fripp Island).

For more information, visit www. baystreetrealtygroup.com

– From staff reports