Charles Kenahan | Managing Director/Financial Advisor | Newport, Rhode Island

Building wealth through investments involves much more than choosing a few high-growth stocks and hoping for the best. It’s about creating a balanced and well-thought-out portfolio that minimizes risks while maximizing returns. One of the most effective ways to achieve this is by diversifying your investments. Diversification is a powerful strategy that spreads risk across various asset classes, helping to stabilize your returns and build long-term wealth. In this article, we’ll explore the power of diversification and how it can help unlock your portfolio’s full potential. What is Diversification, and Why is it Crucial? Diversification is the practice of spreading your investments across various asset classes, including stocks, bonds, real estate, and other types of investments. The idea is to reduce the overall risk of your portfolio. When one asset class or investment underperforms, other investments may perform better, thus helping to cushion the negative impact. The key benefit o...

Asset allocation is one of the most powerful tools available to investors for building wealth. It is not just about picking individual investments but rather about distributing your capital among different asset classes to maximize returns while managing risk. Whether you are a novice investor or an experienced one, understanding the core principles of asset allocation can help you make better decisions and reach your financial goals more effectively. What is Asset Allocation? Asset allocation refers to dividing your investments among various asset classes, such as stocks, bonds, real estate, and cash. The goal is to balance risk and reward according to your risk tolerance, financial goals, and time horizon. A well-designed asset allocation strategy helps minimize potential losses during market downturns and maximizes growth opportunities when the market performs well. Asset allocation is not a one-size-fits-all approach. The ideal allocation varies based on age, financial objectives,...

Planning for retirement is essential for achieving financial independence and ensuring that your later years are free from money-related worries. By starting early and following strategic steps , you can accumulate the necessary savings and investments to live the life you desire after you retire. Here’s a guide to help you master the art of retirement planning and secure your financial future. Understand Your Financial Position The first and most crucial step in retirement planning is understanding your current financial situation. To do this, you need to take an honest look at your income, expenses, and debts. Knowing where you stand financially will allow you to set realistic goals and develop a strategy to achieve them. Start by assessing your income from all sources, including your salary, investment returns, and any passive income. Next, list your expenses, both fixed and discretionary. By identifying where your money is going, you can identify areas where you can reduce spending...