Details for EDWARD JONES - NORTH - Ad from 2021-05-02

Resilience Is Key to Meeting Financial Goals

Mark D. Berghuis, CFP®, AAMS®,
Financial Advisor
Edward Jones

In just about any endeavor, you’ll
benefit by showing resilience – and
that’s certainly true when it comes to
achieving your financial goals.
You can demonstrate this resilience
by answering these questions: What is
your specific goal? What obstacle do
you face in achieving this goal? How
can you overcome this obstacle?
Here are some examples of how this
resiliency process works:
retirement funds


To build sufficient retirement
income, you need to invest in the
financial markets through your 401(k),

IRA and other accounts. But how should
you respond when these markets go
through periods of volatility? Your best
defense is to remain invested. If you
were to jump out of the market every
time it dropped, you’d probably miss
out on the rebounds that followed. Also,
over a period of decades, the effects of
short-term market fluctuations tend
to diminish, so while the results of any
particular day or week may not look
good on your investment statement,
the importance of these results may
diminish in 10 or 20 years.
Goal: Maintaining steady cash
Keeping a steady cash flow is
essential to meeting your daily and
monthly expenses. So, it’s obviously
important that you maintain sufficient
earned income. But what happens
if you encounter a serious illness or
injury that keeps you from work for
an extended period? Depending on
the length of time you’re not working,
you could feel a real financial pinch, so
you may want to consider some type
of disability insurance. Your employer
may offer a short-term policy as an

employee benefit, but it might not be
sufficient, so you may need to look at
private coverage.
accounts intact


Ideally, you’d like to leave your IRA,
401(k) and other accounts intact until
you need to start tapping into them
when you retire. But what if you face
an unexpectedly large medical bill or
you need to replace your furnace or
get a new car? If you don’t have the
money readily available, you might be
forced to dip into your IRA and 401(k),
incurring taxes and potential penalties
and leaving yourself fewer resources
for retirement. You can help avoid this
setback by creating an emergency fund
containing three to six months’worth of
living expenses, with the money kept in
a liquid, low-risk account.
Goal: Having confidence in your
To achieve your important financial
goals, you need a strategy – and you
need to believe in it strongly enough
to keep following it during all types
of stress on the financial markets.
It’s not always easy to maintain this

conviction – less than half of Americans
are confident in their abilities to
recover quickly from difficult financial
situations, according to a new survey
from Edward Jones. One way to help
gain this confidence is by working with
a financial advisor.
In fact, 36 percent of those surveyed
began working with a financial advisor
in 2020 for help navigating the past
year. The importance of receiving
good advice became apparent during
the COVID-19 pandemic, which
brought about a variety of financial
worries, such as job loss, retirement
considerations, caregiving for elderly
parents or providing financial support
to adult children.
You will face some challenges on
your journey toward achieving your
financial objectives. But by being
resilient, you can stay on the right road.
This article was written by Edward
Jones for use by your local Edward Jones
Financial Advisor. Edward Jones, Member
To schedule an appointment to meet
with Mark, call 262-551-8089 or email: