Market Performance: February 15, 2024.

Shares advanced in Europe and Asia on Friday after stocks on Wall Street set a fresh record following mixed reports on the state of the U.S. economy.

Tokyo's benchmark Nikkei 225 index traded near a record high, 35 years after it peaked and then plunged with the collapse of Japan's financial bubble.

Germany's DAX gained 0.6% to 17,153.79 and the CAC 40 in Paris also was up 0.6%, at 7,790.14. Britain's FTSE 100 climbed 0.8% to 7,654.71.

Your Financial Health

Passive income is all about earning money with minimal ongoing effort. Implementing a passive income strategy provides a way for you to make money while you sleep, travel, and pursue other interests.

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Financial health simply measures your ability to handle financial stressors and reach your long-term goals. The areas of financial health typically considered are:

Savings and debt paydown: Are you able to cover your needs, your wants and still have enough to build savings and pay down debt over time? The 50/30/20 budget is a good measure.

Debt-to-income ratio: This comparison of your monthly debt payments to your monthly gross income gives you a good idea of how manageable your debt load is. It's also a common measure used by creditors in making approval decisions.

Credit score: Even if you don't plan to apply for more credit, a good or excellent score can play a role in things like apartment applications, insurance costs, utility deposits and more.

Emergency fund: Having enough in the bank to weather financial shocks protects you from debt spirals and the credit score damage that comes from missing bill payments.

Insurance: This protects assets — such as vehicles, personal possessions and your home — and it also protects dependents in case you're unable to work.

Financial planning: Staying financially healthy means saving toward retirement, working on estate planning and more.

The Key to Personal Financial Planning: Being Lazy

The problem: So many options overwhelm and overcomplicate personal financial plans.

Many of us want to improve our finances, but that’s much easier said than done. The truth is, it’s hard to make sense of all the tools, options, and information at our disposal.

If you’re feeling this same stress, you’re not alone. According to the American Psychological Association, most adults in the United States reported that money was a significant source of stress.

Furthermore, our research has shown that a lack of confidence in making financial decisions is a primary reason why investors hire financial advisors and keep them. Although helping investors build confidence in managing their money plays a big role in financial advisors’ value, this research speaks to the prevalence of money-related stress and lack of confidence.

To make matters worse, the financial industry can sometimes add fuel to the fire with the rate at which it introduces state-of-the-art financial products, shiny new tools, and novel investing opportunities. These tools offer investors new opportunities but are also often overwhelming.

What happens: Mistakes and avoidance.

So what happens when people are faced with monumental decisions with dizzying arrays of choices? There are a few possibilities.

Alternative Investing