Thanksgiving isn't just about turkey and stuffing; it's also a time when family conversations drift towards money matters. Whether it's over a slice of pie or around the fireplace, financial discussions are as natural as the cranberry sauce on your plate. Here, we explore five common financial topics that often pop up around the holiday table.

The Case for Long-Term Investing

Avoid the temptation to time the market. Instead, stick to a long-term plan, ride out the volatility, and focus on consistent growth. Patience and perseverance in investing often pay off over time, and our evidence-based investing strategies at Meritrust Wealth Management can help you achieve this.

Principles of Financial Independence

Financial independence means having the freedom to decide your retirement age. Key principles include living within your means, avoiding lifestyle creep, and being mindful about not overspending on housing. Our fiduciary financial planners in Louisville and Lexington are here to guide you.

Benchmarks for Savings Goals

Consider saving 15–20% of your gross income yearly. Aim to have 1–2x your salary saved by age 35, and 10x by retirement. Consistency is more crucial than perfection, and our team at Meritrust can tailor strategies to help you reach these financial milestones.

The Value of Diversification

Diversification is key to reducing risk and supporting long-term stability. Rather than following the "what's hot to invest in now" mindset, spread your investments across various asset classes, sectors, and geographies. Our portfolio management services in Kentucky are designed to achieve sustainable investing success.

The Power of Compound Interest

Compound interest, or "interest on interest," can be a powerful tool. For instance, $10,000 invested at a 7% annual return can grow to over $76,000 by age 65. Starting early and being consistent amplifies these benefits. Let Meritrust Wealth Management help you leverage this power through personalized planning.

As you reflect on these topics, think about any financial conversations you've recently had—or wish you had. Remember, asking questions is a smart step towards better financial health. Feel free to reach out to Meritrust Wealth Management with follow-up questions or to start a personalized planning discussion. Happy Thanksgiving!