New year, new finances

CHATTANOOGA, Tenn. (WDEF) – For many, a new year means a fresh start on things you’re hoping to improve in the future, including what’s in your wallet.

News 12 spoke with William Wood, Certified Financial Planner and owner of SolomonWood Financial Advisors, on what you can be doing with your finances.

Wood said as some people’s income is up a bit, folks need to be taking advantage of the extra money they have and max out or at least increase their savings rates to things like 401(k)s.

When it comes to investing, he said now may be a good time take a closer look at your portfolio.

“See what things are relatively expensive and what things have done very well and consider re-balancing portfolios to take out some of the excess that has grown from say the U.S. stock market and may be re-balance into things that haven’t grown quite as much, areas that are devalued like international, or not devalued, but less valued like international et cetera,” Wood said.

He added that you should always be including international investing in a portfolio.

Categories: Chattanooga, Local News

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