Make sure you have the best investment strategy for your future


A financial roadmap is one of the most important parts of a successful financial future, and retirement should be one of it. Deliberating on creating the right financial roadmap for your family starts with asking yourself what YOU are saving for. Your financial roadmap should be a joint conversation with your spouse if you are married, and everyone should update their financial roadmap once a year.

“When I meet clients, I get to know them, know their needs and focus on their goals, understand why they are really investing and what steps are needed to get there,” said Jeff Forbes, management consultant private at JP Morgan Wealth. Management in Mattapan.

Here are some tips to get you started.

Make people talk!

According to the Institute for Women’s Policy Research, 80 percent of black American households depend solely on the income of a black woman. It was the statistic that prompted JPMorgan Chase to launch an initiative called Currency Conversations in partnership with Essence Magazine. The program was created to inspire sisters, mothers, grandmothersothers and aunts to talk about their financial situationals and take action. In 2019 the partnership committed nearly 16,000 Black of women to speak abon basic personal finance topics and how road of buildingto me.

“It is imperative that everyone, but especially black Americans, improve their financial health and start talking about savings, investing and resources with their children, parents and communities,” Forbes said.


Understanding the Stock Market

It is a common misconception that people need to have a lot of money in order to be able to invest. This is not true, and no amount is too small to begin with. It’s not about how much money you need to get started, but how much you can afford to start with.

“When I sit down with clients, I reiterate the importance of investing as a way to build wealth and save for retirement,” Forbes said. “A financial advisor can be particularly helpful in helping determine the most appropriate investment options based on a client’s unique financial situation and tolerance for risk. For example, how much do you want to save for your child’s school fees, or at what age would you like to retire? An advisor can help you make sure your investment strategy matches your needs.

Diversification with a balanced mix of investment products helps mitigate risk. It is also important to invest for the long term.

Manage retirement savings

As soon as you start working, think about your retirement, especially if you have an employer-sponsored plan. Making regular contributions, large or small, can help keep you on track. It will also take the guesswork out of deciding when to invest.


However, if you leave a business, what should you do with your retirement account? Considering your specific financial goals is essential to help you determine what to do with your assets. Making the wrong decision could cost you money in the short term or in the long term and have bigger ramifications at tax time.

You might be surprised at some of the options you have, and they could end up saving you a lot.

• Leave him

One option to consider is leaving the plan with your former employer until you retire. Most companies allow former employees to keep retirement accounts with them and then open another account with your new employer. Opening an account with your new business is especially important if the business matches contributions. Leaving an account open will keep a tax advantage for your money, and if you’re happy with the old wallet, there might not be a reason to make a change. If your former employer won’t let you keep their plan and you’ve already contributed more than $ 5,000, they need to help you transfer the funds to an IRA.

• IRA Rollover

One of the more popular choices is to transfer funds directly to a Roth or traditional IRA, both of which give you more investment options than a standard retirement account. Which one you choose depends on your tax bracket and your future financial goals. In a Roth IRA, you contribute after-tax income, which allows you to withdraw tax-free or penalty-free after a certain age. A Roth will also allow your savings to grow tax-free.

In a traditional IRA, savings are tax-deferred and withdrawals are taxed as current income. If you expect higher income after retirement, a Roth IRA is your best bet if you meet the eligibility requirements.

• Transfer

Transferring your funds to your new employer is a popular choice. Transferring the total balance to a new employer’s plan can help you maintain tax-exempt status on your savings. Make sure you take the time to research and study both options in detail, including the fees associated with each. If your old account offers better prospects and you can manage multiple accounts, consider staying with your old employer.

Planning for retirement is one of the best things you can do for your financial future – it’s worth the time and money to familiarize yourself with your options. Make sure you review all the details of the pension plan and speak to a professional. A secure retirement can be achieved when you make informed decisions with your assets.


Not all referenced investment ideas are suitable for all investors. Investing involves market risk, including the possible loss of capital. There can be no assurance that the investment objectives will be achieved. Diversification does not guarantee a profit or protect against a loss.

The opinions and estimates offered constitute our judgment as of the date of this document and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe that the information provided here is reliable, but do not guarantee its accuracy or completeness. This document is not intended as an offer or a solicitation to buy or sell any financial instrument. The views and strategies described in this document may not be suitable for all investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied upon for, accounting, legal or tax advice. References to future returns are not promises or even estimates of the actual returns that a client portfolio can achieve. All forecasts contained herein are for guidance only and should not be taken as advice or construed as a recommendation.

JPMorgan Chase & Co., its affiliates and employees do not provide tax, legal or accounting advice. This document has been prepared for informational purposes only, and is not intended to provide, and should not be relied upon, for tax, legal and accounting advice.

JP Morgan Wealth Management is a company of JPMorgan Chase & Co., which provides investment products and services through JP Morgan Securities LLC (JPMS), a registered investment broker and advisor, a member of FINRA and the SIPC. Annuities are available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, NA (JPMCB). JPMS, CIA and JPMCB are affiliates under the common control of JPMorgan Chase & Co. Products are not available in all states.

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