Tips on How to Stay Safe on the Beach

Dean Vagnozzi is an accomplished entrepreneur with a successful sales and finance background. He is the president of A Better Financial Plan, LLC which educates people on alternative ways of securing financial success and independence. An accounting graduate from Albright College, Dean Vagnozzi enjoys relaxing on the beach during his free time.

Visiting the beach is a fun and relaxing outdoor activity for many individuals and families. However, the beach area is associated with numerous risks and it is important to follow the laid down safety guidelines to remain safe. Below are safety tips you should observe while at the beach:

1. Take note of warning flags and understand what each of them means. If unsure, ask the lifeguard to explain what various warning flags mean. For instance, red flags indicate strong currents or beach closed while yellow flags notify people of moderate currents. Green flags indicate the ocean is clear or calm.

2. Always swim close to where lifeguards are stationed as they are there to ensure your security. Lifeguards understand the beach more than anyone else so it’s vital to remain close to them. Most drowning accidents occur in sites or areas which are unguarded.

3. Avoid bringing glass containers to the beach considering many people walk bare feet while on the beach. This avoids the risk of both injuries and contaminating the beach environment. Likewise, trash including plastic should be properly disposed of.

Tips for Navigating a Stock Market Correction

Through his firm A Better Financial Plan, experienced financial planner Dean Vagnozzi promotes alternative investments that offer steady returns. Dean Vagnozzi advises his clients to leverage these investments to buffer their financial security from stock market dips and corrections.

Corrections are a normal part of stock market movement. A drop between 10 and 20 percent from a peak is considered a correction. Crashes are more severe declines, while a bear market persists in a downward trend for a sustained period. Over the course of the stock market’s 100-year history, corrections last on average less than two months and occur roughly once a year.

While most investment portfolios consider the impact of recurring corrections, investors may make poor decisions based on fear or uncertainty. For example, people may attempt to reallocate their investments based on what is going up at the moment. This strategy, known as timing the market, is far less effective than simply riding the correction out.

Most experts advise investment diversification as the best way to minimize losses during a correction. This includes investing in low-risk assets that are not exposed in any way to the stock market.

The Promise of the 1346 Plan

 

 

With extensive experience in helping people make intelligent investment decisions, financial advisor Dean Vagnozzi earned the reputation of providing alternative approaches to financial planning and investments. Dean Vagnozzi and his firm, A Better Financial Plan, commit to their clients and help them save their money and manage and grow their wealth.

One of the key services of A Better Financial Plan is the 1346 Plan. It is so important to the firm’s corporate strategy that the numbers “1346” are included in the company’s logo. Every potential client that comes to the firm seeking professional help in growing and protecting their investments is offered the 1346 Plan.

The 1346 Plan was inspired by George Samuel Clason’s book, “The Richest Man in Babylon.” In his book, Clason presented seven parables, each describing simple rules to save, generate, and protect wealth. After reading the book, Mr. Vagnozzi applied Clason’s rules to his own firm’s financial planning strategies.

The numbers “1346” represent the first, third, fourth, and sixth rules. Under The 1346 Plan, A Better Financial Plan will help the client with the first, third, fourth and sixth rules, which include saving up to 10 percent of one’s income, putting money into investments that pay over time, conserving capital, and investing in the right kind of life insurance.

Anyone interested in the 1346 Plan may visit www.getabfp.com.

Common Pitfalls of 401(k) Accounts

  As the founder of A Better Financial Plan, Dean Vagnozzi advocates against traditional retirement savings plans that rely on risky investing or tax-deferred savings accounts. Dean Vagnozzi advises his clients to avoid putting their nest egg in a 401(k) for several important reasons.

Firstly, since the average 401(k) is exposed to the stock market for a period 10 to 40 years before the account holder begins withdrawals, if the majority of the investing period occurs during a down market, there’s a risk of losing money or only experiencing modest gains. Furthermore, about half of all companies that offer 401(k)s do not provide an employer match. Without substantial contributions, the account balance can be quickly eaten by administration and service fees.

In the long-run, a 401(k) account can be financially disastrous if the account holder dies and transfers the balance to their spouse. The surviving partner must pay the higher single filer tax rate on withdrawals, which can negatively impact his/her financial security.