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Get Ahead in 2023: Setting Up Your Financial and Investment Goals

2023 is just around the corner. By now, you may have made some strides in your financial and investment goals, but now is the time to take a step back and re-evaluate what’s working and what isn’t. The beginning of a new year is the perfect opportunity to set up your financial goals for the upcoming year. Follow these tips to ensure that you’re on track for success in 2023.

Start with a Budget

The first step to achieving your financial and investment goals is having a budget. Your budget should reflect both your short-term and long-term goals. Start by looking at what you earned last year, then subtract any expenses or debts you had over the past twelve months. This will give you an idea of how much money you need to put aside each month to achieve your financial goals in 2023. It’s also important to factor in inflation rates, as costs can go up over time.

Analyze Your Current Investments

Once you have a budget set up, it’s time to analyze your current investments. Take stock of where you are currently investing your money—are there any areas that could use improvement? Are there any investments that are not performing as well as expected? Analyzing your current portfolio can help you make adjustments for the upcoming year, such as shifting funds into more profitable ventures or scaling back investments that no longer align with your overall objectives.

Set Short-Term and Long-Term Goals

Finally, it’s important to set both short-term and long-term goals for yourself when it comes to finances and investments. Short-term goals should be achievable within six months or less, while long-term goals should be broken down into smaller steps that can be achieved within five years or more. Having clearly defined goals will help keep you focused on making progress towards achieving them throughout the year.

Conclusion: It can seem overwhelming trying to set up your financial and investment plans for the next year, but breaking it down into manageable steps can make it easier to achieve success in 2023. Start by setting up a budget based on last year's income; then analyze your current portfolio; finally, define both short-term and long-term objectives so that you are always striving towards something bigger than just today's goal. With this approach, investors can look forward to successful returns in 2023!

To contact our Wealth & Asset Management Team: LYON BERN San Juan, Puerto Rico | Headquarters Av. Ponce de León 252. Citi Torres Suite 1403 San Juan, PR 00918 WEB ​ EMAIL TELÉFONO 787-395-7325 Lyon Bern, LLC is a Registered Investment Adviser and is in the business of consulting and advising its clients in wealth and asset management. Each client's diversification between Lyon Bern's portfolios will be made individually and based on the client's Investment Policy Statement. Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product referred to directly or indirectly in this document will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this document serves as the receipt of, or as a substitute for, personalized investment advice from Lyon Bern, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional investment advisor. A copy of our current written investment advisory agreement discussing our advisory services and fees is available for review upon request.


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