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Setting SMART financial resolutions

Setting SMART Financial Resolutions for the New Year

You have a new year ahead of you that is full of possibilities. This is the time to reflect on where you are going and what changes need to be made for your goals to become a reality. It’s also an excellent opportunity to establish some financial resolutions that will help you throughout the year.

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goal setting in investing

Goal Setting in Investing

A thing that holds many considering investing back is goals. Often, they enter into an investment without any plan in mind, which makes them hesitant to make any moves. Having a clear one will steer the direction of your actions and keep you focused. If you want a clearer path to investing, consider consulting with

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Wealth Manager vs Financial Advisor What's the Difference

Wealth Manager vs Financial Advisor: What’s the Difference?

Contrary to popular belief, you don’t have to be a millionaire to get professional financial help. However, it pays to know which service will fit your needs. Depending on your situation, you may choose to work with a financial advisor or a wealth manager. While these terms are often used interchangeably, there are distinct differences

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Hagemann Wealth Talks About What a Wealth Manager is and Why You Might Need One

Hagemann Wealth Talks About What a Wealth Manager is and Why You Might Need One

Wealth management firms in Illinois offer an extensive range of investment strategies including financial assessments, estate planning, retirement planning, and tax advice. In addition to financial advice, they may also provide legal assistance services. This investment strategy caters to clients with high investment readiness and portfolios, which they will use to fund a tailored investment

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the importance of diversification in investing

The Importance of Diversification in Investing

Diversification in investing refers to investing across different asset classes, securities, industries, and companies. Financial advisors in Illinois would also sometimes suggest investing in other geographic locations. However, not many investors understand the importance of such economic diversification. In simple terms, it means not putting all your eggs in one basket, but why? Let’s find

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How much should I contribute to my 401k

How Much Should I Contribute to My 401(K)?

Financial advisors in Illinois constantly face clients asking about the ideal amount to invest in their 401(k). However, there is no one-size-fits-all answer to this question. Although most financial institutions may suggest between 15% and 20% of your income, how much you should contribute to your 401(k) depends on your financial situation. Other factors that

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types of investments

Types of Investments

When you’re considering investing, there are many vehicles to choose from. Each of them can be viable for long-term growth. However, there are unique advantages and disadvantages to each. Knowing them will help you decide what investment to choose when you talk to your financial advisors in Illinois. Bonds A bond is a loan you

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How Do You Know When It's Time to Retire?

How Do You Know When It’s Time to Retire?

Most people aim for 60-65 years of age for retirement. But age is not the only factor to consider when deciding that you’re really ready to retire. So how do you know it’s time to retire? Well, there’s not a set criterion for determining that it’s time to retire. But there are some signs that

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The Gender Wage Gap and Its Impact on Women’s Retirement

The Gender Wage Gap and Its Impact on Women’s Retirement

Women have a more difficult time getting into financial planning as compared to men. While there may be many causes to this effect, the one that stood out to us was the wage gap between the two genders. Here’s how income disparity gets in the way of retirement planning for women. The Glaring Difference in

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What Are the Six Steps in the Financial Planning Process?

What Are the Six Steps in the Financial Planning Process?

Having a solid financial plan can help you manage your finances wisely and steer clear of debts. This process is an important part of wealth management that can be addressed when you keep track of your finances. The process involves 6 key steps that revolve around evaluating your expenses, establishing financial goals, and working toward

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IRA or 401(k): Which is Right for You

IRA or 401(k): Which is Right for You

Individual retirement account (IRA) and 401(k) are both great plans available in the U.S. for retirement savings. Both the plans are quite similar and come with tax-advantaged features. Therefore, it naturally gets confusing for people to choose between the two. Many financial advisors you consult would recommend you opt for both IRA and 401(k) plans.

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global diversification

Global Diversification: Making a Case for International Stocks

Global diversification is an important feature of asset allocation. It’s defined as diversifying stocks, bonds, and cash internationally as opposed to just locally. It only makes sense to invest in an increasingly globalized world, where thousands of miles are just hours, and thanks to online banking, just minutes away. Here’s why our financial advisors recommend

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15 Questions to Ask a Financial Advisor

15 Questions to Ask a Financial Advisor

When you’re interviewing financial advisors (because it should be an interview process), you want to make sure that you find a financial advisor who will have your best interests at heart.  You want someone knowledgeable and experienced and one that takes the time get to know your financial situation and goals.  There’s a lot at

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markets and stocks face uncertainty due to the ongoing pandemic and looming elections.

Stocks Face Uncertainty Around Virus, Election and Economy

The first quarter of 2020 was one of the most unsatisfactory performances in the history of the S&P 500 due to the coronavirus pandemic, followed by a notable rally during the second quarter. Powerful waves in performance out of recessionary bearish markets have generally been suggestive of further strength and above-average yields. Enormous monetary and

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Why you need a financial advisor?

Reasons You Need a Financial Advisor

Money management can be intimidating and complex, no matter how little or how much you have. You would not consider completing a marathon without first undergoing a rigorous fitness and some medical training. If you’re truly committed, you might also appoint a professional trainer to build a personalized workout that increases your chances of crossing

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portfolio diversification

What is a Diverse Portfolio?

When the market is thriving, it seems impossible to sell a share for any amount less than the price at which you obtained it. However, nobody can ever definitely predict how the market is going to react. Hence investors must not forget the significance of a well-thought diverse portfolio in any market condition. For developing

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Kane County Chronicle: No Need to Panic Over Markets | Hagemann Wealth | Financial planning during COVID-19

Kane County Chronicle: No Need to Panic Over Markets

Did you see the news?  Our own Kurt Hagemann, founder of Hagemann Wealth Management was interviewed and appeared in the April 1st edition of the Kane County Chronicle.  Here’s a quick snapshot of the interview.  Don’t worry, the link the full interview/article is at the bottom of this page! Everywhere we look the media is

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coronavirus stock market crash | Hagemann Wealth Management

Coronavirus Stock Market Crash: What Impact Will It Have?

As the U.S. braces for the coronavirus to spread, consumers are racing to the stores to find that face masks, hand sanitizer and bottled water are all in short supply.  Shops have begun limiting quantities on these “in-demand” items. What does all of this have to do with investments and the stock market crashing? Aside

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