I’m a Wealth Strategist: 6 Financial Warnings To Prepare For 2025

Jordan Rosenfeld   GOBankingRates   Wed, January 8, 2025

Most years, people’s finances remain relatively the same from year to year, barring the job changes, emergencies or retirement. However, 2025 is a unique year that finds people with a lot of financial questions as costs of living remain high and a new presidential administration is coming into the White House.

Check Out: 4 Low-Risk Ways To Build Your Savings in 2025

Dr. Constance Craig-Mason, a financial planner, national Social Security advisor and CEO of Concierge Financial Advisory, offered some “financial warnings” for this new year, taking into account “financial behaviors and market realities.”

Craig-Mason said, “Preparing for [2025] requires vigilance and intentionality.” Here are the top warnings she’s sharing with her clients to help them navigate 2025 with confidence.

Don’t Let Volatility Lead To Financial Sabotage

With economic uncertainty persisting, Craig-Mason is warning clients against overreacting to market swings. Emotional investing often results in buying high and selling low, eroding long-term gains, she said.

“My advice? Stay grounded in your strategy, focus on diversification and avoid chasing trends that promise quick returns. Wealth-building is a marathon, not a sprint.

Higher Rates Are a Double-Edged Sword

While interest rates are creating opportunities for savers, they’re also squeezing borrowers, Craig-Mason shared. “I’m warning clients to avoid stretching themselves thin with high-interest debt like credit cards.”

Refinancing may not be favorable until rates stabilize, either, she said, so she recommended aggressive debt repayment and locking in savings rates before they drop.

TO READ MORE:  https://www.yahoo.com/finance/news/m-wealth-strategist-6-financial-200013854.html