As we approach the end of 2016 it usually is a time to reflect, relax and then begin to prepare for 2017. Whether you reached your savings or financial goals this year can be assessed and adjusted starting now in preparation. There are 3 ideas to consider for your finances that we think are worth a look.
1. Take advantage of any capital losses
If you've been putting off managing your own money or if it's been with a broker and sustained losses now may be the time to look at it. Nobody likes looking at their statements at the end of the month but once we get past that initial feeling we can correct it.
If you have capital losses there might be something you can do about it know as Tax-Loss Harvesting. While we're not accountants this is something that might be of interest and you can take a look at this concept in more detail at Investopedia here.
2. Consider Futures Trading for income purposes
Most of us simply neglect to manage our personal money because of time. However, there might be a way to get around this and also have a better tax break while doing so. Futures trading is a great day trading product that doesn't require us to have our capital tied up in stocks for long periods of time. Even better, you can access these markets close to 24/7 and many of the times its really just a 1-2 hour 'trading session'.
You can learn more about the Bullshark Futures Trading program here and see some of the great benefits.
3. Create an Investing Plan for your portfolio
If you're looking at taking control of your finances it can be a scary idea to start. While most never fully begin to solely manage all of their money some do start with a portion. Before jumping in to any idea decide what it is your investing goals are. Are you trading for cash flow or investing maybe for wealth preservation? These simple questions can decide what you begin trading and why.
Remember this, when you understand technical analysis trading of any product becomes much more clear.