Nobody likes salty cookies. Well, maybe salted caramel, but that’s a special circumstance. Have you ever put on pants you found in the back of your closet? Most likely you outgrew them, and they, hopefully, became way too big. Having the right mixes and measurements is very important in order to have the best fit, batter, or asset mix. The right mix in your portfolio is crucial to achieving your financial goals. As life spans keep increasing, so do the total number of retirement withdraws. Remember, some of that money will stay in the account, and keep working for you even after retirement.
You retire in 5 years. You don’t die in 5 years.
It’s allocated for bills, and other living expenses. Most people it’s a long term plan. Therefore, it’s ok for the market to drop even 30% because you have so much time left to enjoy life. Withdrawing the cash means you won’t benefit when the market rebounds. With that said it is still important to have the right asset mix so you can take full advantage of your retirement. You have to think about what you need for your personal retirement. Make sure to always revisit your account at least once a year to make sure the recipe is right. This will help ensure you’ll be enjoying your wonderful golden brown years the way you want to.
We talk about the options you have, such as DROP, 401K’s, and even some of those special “salty” circumstances on the show. Follow the link to hear the entire Let’s Talk Future Father’s Day show.
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“When I was boy of 14, my father was ignorant I could hardly stand to have the old man around. When I got to be 21 I was astonished to how much he had learned in just 7 years.” – Mark Twain
Opinions expressed are those of Michael Clark and are not necessarily those of Raymond James. Investing involves risk; investors may incur a profit or loss regardless of the strategy or strategies employed. Asset allocation and diversification do not ensure a profit or guarantee against loss.
· Hear about we spent our time off from the show. (2:05)
· What’s a good mix for someone nearing retirement? (6:00)
· Text about opening a Roth IRA. (18:56)
· What are your true investments? (26:30)
· What is FRS, and how do you take money out of it. (28:33)