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From reactiveinvestmentdecisions to unsustainable spending habits, these short-term decisions are quietly setting the stage for long-term setbacks.
Here are four mistakes the upper-middle-class is making with their money inthe Trump economy.
DJT has lost approximately 55% in value over the last year.
My advice is not to mix investment strategy decisions with politics.
When that time comes, theyll be left with homes they cant sell easily without taking a loss.
Only 26% of the highest-income households carried credit card debt.
If youre not prepared to make a big purchase, panic buying could lead you to make unwise decisions.
They may be doing fine right now, keeping up with monthly payments.
The Trump Administrations economic policies inject a great deal of uncertainty into the markets, Johnson said.
Regardless of ones income status, Johnson said sticking to a long-term strategy is what actually builds wealth.
Investing without a plan is like driving without a roadmap or GPS, Johnson said.
Investors should not concern themselves with broad market moves or the crisis du jour.
It is best to develop an IPS in a rather calm market, Johnson said.
Developing an IPS in a volatile market or during major stories is problematic.
The whole point of an IPS is to guide you through changing market conditions.
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