Most people make new resolutions at the beginning of a new year. The essence of these decisions is to begin the New Year with new undertakings that will make it more productive than the previous one. Unfortunately, very few people work towards realizing these plans as the year rolls by. There are however some resolutions that one should try to at least achieve at the beginning of a new year. These resolutions are ones that are directly related to your financial security. They include:
- Save more
A recent study has revealed that most people in the United States rarely save enough for their retirement period. This is very dangerous and can lead you to a financial crisis upon retirement. You should save more every New Year to be guaranteed of driving a good life after retirement.
- Cut your investment costs
This is another bold step that everyone should take to maximize profits. Some companies use a lot of money on advisors and other facilitators without being conscious about the impact of the erroneous spending to the profits. You should cut your investments as much as possible and keep your wage bill as low as possible to realize maximum benefits. Joining an investment club such as Oxford Club can be of immense importance in aiding your funds’ management.
- Rebalance your portfolio
It is also crucial to create a balance between your assets. Some assets have appreciated so much within a particular period while others have stagnated in value. You should sell those highly valuable assets and use the funds to boost the growth of those that have sluggish growth. This will help you in overcoming the uncertainty associated with assets. An asset may lower its value due to unprecedented factors, and your company will be in financial jeopardy.
Oxford club is a private investment organization that aims at increasing the wealth of the members. It was formed in 1989. At the time of its inception, it was called the Passport Club. The founders later changed the name to Oxford Club in 1991. They decided to use Oxford Club as a way of showing the club’s longstanding belief in the old times’ sensibility.
The club aims to create a platform where investors can advise one another on the right kind of investments to make to generate profits. The club researches on the most viable opportunities and informs its members on ways of reaping from these investments. The organization currently has 157,000 members from 130 countries.
Learn more: https://en.wikipedia.org/wiki/The_Oxford_Club