Description

Hello, everyone! Welcome to another episode of the Wine and Dime Podcast! In this episode, I have the pleasure of chatting with Kerrie Beene about a topic that sometimes gets a bad rap: asset allocation. Kerrie isn’t a fan of the term, explaining that it can be somewhat intimidating and confusing for clients. Together, we delve into the critical importance of comprehending asset allocation, especially regarding its relation to risk tolerance and investment goals. We also explore the intriguing concept of asset location and discuss the different types of accounts that you might utilize in your investment journey. Our conversation underscores the crucial need for all clients to educate themselves and seek advice from reliable, trusted sources in the investment world. Join us for a deep dive into making asset allocation and investment more accessible and understandable!

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Key Takeaways:

• Asset allocation is the mixture of investments within a portfolio and is based on an individual's risk tolerance and investment goals.
• It is important to understand the different types of investments, such as stocks and bonds, and how they can be allocated within different accounts.
• Tax allocation is also a consideration when determining asset allocation, as different types of accounts have different tax implications.
• Target date funds can be a good option for beginners, as they automatically adjust the asset allocation based on the investor's age and retirement timeline.

Quotes:

• "Don't let this terminology scare you. Take the time to educate yourself." - Kerrie Beene
• "Asset allocation is the mixture of investments within your account or portfolio." - Kerrie Beene
• "Don't put all your eggs in one basket. Diversify your investments." - Amy Irvine
• "Target date funds are a great way to start investing, as they automatically adjust the allocation based on your age and retirement timeline." - Kerrie Beene

About The Guest(s):

Kerrie Beene is a financial planner with Rooted Planning Group. She has a high level of understanding of retirement and investments and is passionate about helping clients understand complex financial concepts.

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