As turkey dinners bring families together, financial questions often find their way to the conversation—right between the mashed potatoes and cranberry sauce. Let's delve into the five key financial topics that advisors like me tend to discuss during Thanksgiving.

The Value of Diversification

When family members ask "What's hot to invest in now?" I remind them about diversification. Spreading investments across various asset classes, sectors, and geographies reduces risk and supports long-term stability. Think of it as a financial cornucopia—diverse and plentiful!

Benchmarks for Savings Goals

Saving benchmarks often spark questions. I recommend aiming for 15–20% of gross income yearly and having 1–2x your salary saved by age 35. By retirement, 10x is ideal. The key is consistency over perfection, much like seasoning a turkey—just the right blend!

The Power of Compound Interest

Explaining “interest on interest” always fascinates. For example, $10,000 at a 7% annual return can grow to over $76,000 by age 65. The early bird catches the worm—or in this case, the lush green of accrued wealth.

Principles of Financial Independence

Financial independence signifies freedom over retirement age, achievable by living within your means, avoiding lifestyle creep, and not overbuying on housing. It’s about savoring what you have, like enjoying that last slice of pie.

The Case for Long-Term Investing

Timing the market isn't a dish I'd serve. Stick to a long-term plan, ride out volatility, and aim for consistent growth. It’s the slow roast method of investing—rewarding over time.

As you clean up after your feast, think about any financial topics you've discussed—or those you wish you had. Asking these questions is a wise step toward better financial health. Feel free to reach out with follow-up questions or to start a personalized planning discussion. Happy Thanksgiving!