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I'm a financial planner — I'm doing 5 things with my own money so that I'm prepared for whatever changes tariffs bring
- Financial planner Eric Roberge shares five ways he is preparing his personal finances amidst financial market uncertainties and potential economic fallout from recent policy changes.
- He has decided to put off buying a new car and focus on refreshing the exterior of his current vehicle to save money and align with his values.
- Roberge advises delaying non-essential purchases, tightening spending, and cutting back on discretionary expenses that do not align with personal values.
- He plans to refinance his higher-interest rate mortgage if rates drop below 5.75% to seize potential savings opportunities.
- Roberge is working on building up his cash reserves to have more liquidity on hand during the period of economic uncertainty.
- While maintaining his long-term investment strategy, he sees market downturns as opportunities to buy stocks at a discount, reinforcing the importance of sticking to the investment plan.
- By adjusting priorities, reviewing spending, and focusing on long-term goals, Roberge illustrates proactive financial management in response to market volatility.
- These personal finance strategies can serve as a guide for individuals navigating economic uncertainties and seeking to secure their financial well-being.
- Adapting to changing financial landscapes requires a blend of pragmatism, strategic planning, and aligning spending decisions with personal values.
- Roberge's approach highlights the importance of evaluating individual financial circumstances and making informed decisions to weather economic instability effectively.
- Ultimately, proactive financial planning can help individuals protect their assets, optimize savings, and position themselves for long-term financial stability.
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