Many advisors will tell you that you need to amass a certain amount of wealth prior to retirement. This magic number will allow you to sail smoothly through your golden years in comfort. How crazy! If you own real estate or collectibles like art, automobiles or rare coins, I don’t believe your goal is sell off little bits and pieces in order to provide for your everyday living expenses. Another reason this magic number isn’t so magical is because in the traditional investment world, there are typically no guarantees once you have achieved it. Thousands of Americans have been forced to postpone retirement and thousands more who were already retired have been forced to re-enter the job market after watching their magic number vanish into thin air. The problem is determining how to position your money once you reach your goal so that it will sustain you throughout retirement.
If you’ve been the victim of a market loss, what are you going to do with the money you still have? What if you have achieved your “magic number” and are enjoying the retirement of your dreams and the market causes you to lose a large percentage of your money? If you are also relying on portfolio withdrawals, then you have an even bigger problem. Unfortunately, the financial advice that has been preached as the gospel of Wall Street for the past 50 years has become an invitation to a game of chance. Remember the disclaimer: “Past performance is no guarantee of future results”.
Concerned about your retirement situation? Looking for alternatives? Ask about our S.W.A.N Technique. Those letters stand for Sleep Well At Night and when it comes to your retirement assets, isn’t that just what you want to do?