A local financial advisor is sharing thoughts on how to make the most of your investments in 2019.

Bob Laura is President of the SYNERGOS Financial Group in Brighton. Recently, a pair of articles he has written regarding what to do with your 401(k) and things that you should ask your financial advisor have been gaining traction on Forbes.com.

Laura says investors can look at their 401(k) plans in two different parts: the existing balance of money that has already been allocated, and current contributions that made each pay period. One of the easiest things to do, Laura says, is using a small portion of your regular paycheck contributions to buy underperformers. He advises to increase contributions when you can, buy the stuff that’s on sale, be consistent, and use the many tools and resources out there to continue to educate yourself.

With the market down 15% since its September high and a government shutdown in effect, Laura says it’s a good time to assess what you have and also make sure you have high quality stuff that is actually working for you. Laura also has 3 questions that everyone should be asking their financial advisor. The first is to ask them what the plan is for this coming year, and what strategies and ideas they have to help make your investments grow. Also, ask your advisor how much you are paying them, and don’t let them skirt around the issue. Laura says that in reality, they are all professionals and should not have an issue with articulating costs. Finally ask them what you are getting for your money from them. This is an important question Laura says that many investors fail ask, especially when the market is up.

As for 2019? Laura is forecasting a positive return with the economy still being strong. He says 2020 “could be a different picture, but we’ll see.”

See the articles at:
https://www.forbes.com/sites/robertlaura/2019/01/01/three-things-to-ask-your-financial-advisor-right-now/#36c85a82a004

https://www.forbes.com/sites/robertlaura/2018/12/30/do-this-with-your-401k-right-now/#52d48727d148
(MK)