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These are just a few of the common questions I get asked when I start discussing retirement. As we all know, the only thing certain in life is Retirement and Taxes, and they happen to go hand in hand with one another. Planning for your retirement is the centerpiece of all that I do. All aspects of financial planning are focused on using the income you generate by working to build a strong portfolio to support you when you choose to stop working. That’s it, plain and simple. The not so simple part is building an integrated strategy that makes use of all of the tools, products and services that you need and have available to you while avoiding those you don’t.
That’s my area of expertise.
One of the unique aspects of The Lifestyle of Your Dreams process is that it includes all of your assets and liabilities to build a comprehensive picture of your current financial situation. Then, using this snapshot of your financial situation, we start building your own personal strategy to create the portfolio that will support you when you decide to reduce the amount you work or stop altogether. Financial planning, by definition, is an ongoing process which evolves as your life changes. The strategies we put in place will be designed to focus your efforts towards your goals while providing the flexibility to meet any unforeseen expenses.
One key aspect of The Lifestyle of Your Dreams process is that it coordinates your investment strategy across your family’s accounts. So, for example, if you have a 401K and an IRA and your spouse has a 403B and a pension, we build an investment plan that diversifies your investments both domestically and internationally across all 4 accounts. Many times I find that a client’s 401K plan may have great domestic fund options but the international ones are not the greatest, whereas their spouse’s 403B has great international funds and average domestic ones. In this case I would have the couple invest domestically in the 401k and internationally in the 403B account. If you work with one of the larger investment firms, they are focused on having you transfer your accounts (401k, IRA, 403b, etc) into their custody in order for them to provide you with this type of financial advice, which is not always possible.
At the end of the day, your retirement plan needs to incorporate all of your assets, whether they are invested in the stock market, sitting in your local bank, or are built up as equity in your home. All of this is then used to make prudent decisions about when you can retire and what your lifestyle will be like in retirement.
To learn more about The Lifestyle of Your Dreams process, please continue reading through this site and when you are ready to get started, please give me a call.