For years, you've diligently invested in your retirement portfolio, accumulating wealth that you hope will sustain you throughout your Golden Years. To help see that your assets are sufficient for supporting your lifestyle standards, there are important steps that you can take.
Perform Regular Assessments. While you may have calculated your anticipated retirement needs years ago, it's helpful to re-crunch those numbers regularly, to guard against changes in your expectations as well as financial markets.
Calculate your Social Security. Add income, pension moneys, accumulated savings, and personal investments, then determine whether they can cover your estimated living expenses, which should incorporate swings in the financial markets. If you find that your assets are lacking, you may find it helpful to consult a financial professional to help reconfigure your portfolio.
Guard Against the Big One. Most people approaching retirement will want to protect their portfolio from market swings and the dreaded Ione, inflation. That doesn't mean replacing all your investments with less risky assets; rather, that means considering a gradual move of some stock investments into bonds and cash while retaining sufficient growth-oriented investments that help manage inflation risk.
Preserving your assets for Future Generations. Integral to a strong financial plan is a well-constructed estate plan that preserves your assets for your
heirs. In this regard, you may benefit from consulting with an attorney who can help you draft trust and various types of insurance tools to help protect your assets from estate taxes. Additionally, revisit your financial plan and goals with a financial professional regularly, addressing any potential problems before they impact your savings.
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Canby, OR 97013
Securities and advisory services offered through LPL
Financial, a registered investment advisor. Member
The opinions voiced in this material are for general
information only and are not intended to provide
specific advice or recommendations for any individual.
Rebalancing a portfolio may cause investors to incur
tax liabilities and/or transaction costs and does not
assure a profit or protect against a loss.