INVESTING FOR THE FUTURE
Provided by MidAmerica Financial Resources
Building a retirement portfolio takes patience and diligence. Your goal is simple: accumulate enough wealth to sustain you through your post-retirement years.
Easier said than done.
The key is to take the steps that will help you save enough to support your lifestyle standards. Here are a few things you can do to make sure that your plan is on-track.
First, check in and check in often. It may have been several years ago when you first crunched the numbers and arrived at your bottom-line figure for what you’ll need to retire. Revisit those numbers regularly to guard against any large changes, as well as to adjust to any market volatility.
Here’s what you do: Calculate your Social Security income, any pension moneys, accumulated savings, and personal investments, and determine whether together they can cover your living expenses. Account for swings in the market, estimating any projected gains conservatively. If you find that your number is coming up short, talk to a financial professional who can help you reconfigure or rebalance your portfolio, as needed.
Next, manage your inflation risk and the impact it can have on your investments. That doesn’t mean replacing everything with less risky assets, but it does mean you should consider moving some of your equity investments into fixed income and cash, reserving enough growth-oriented investments that together will have the potential to help you sustain significant losses.
Develop an estate plan that preserves your assets for future generations. This can get complicated if you have a lot of assets, and you’ll benefit from consulting with an attorney who specializes in this area. They can help you draft trust and various types of insurance tools to help protect your assets from estate taxes.
Finally, revisit your financial plan and goals with a financial professional regularly, addressing any potential problems before they impact your savings.
MidAmerica Financial Resources may be reached at 618.548.4777 or greg.malan@lpl.com www.mid-america.us
Securities and advisory services offered through LPL Financial, a Registered Investment Adviser, Member FINRA/SIPC.
MidAmerica Financial Resources and Malan Financial Group are separate and unrelated companies to LPL.
This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal.
This material was prepared by LPL Financial, LLC
