The retail industry does a great job of reminding us what season is coming up next. You almost don’t need a calendar if you shop on a regular basis because the store’s merchandising will tell you what time of year it is. Although, it can get disorienting as the stores seem to start preparing for the next seasonal event earlier and earlier every year.
All of this nice merchandising is done for a purpose. It’s to raise awareness and ultimately achieve the desired outcome of getting consumers to make a purchase. If you’re in a clothing store, you’ll see apparel change over for the upcoming season. If you’re in a home improvement store, you’ll find items appropriate for the time of year. And, if you’re in the supermarket, you’ll see the foods of the season as soon as you enter the store.
The financial industry would do well to take a page out of the retailer’s playbook. It would be great if they reminded people on regular intervals to update their risk tolerance or evaluate their 401k selections. There are so many things that can impact your portfolio, so checking on it regularly is vital. The problem is, many people get so busy with everyday life that they put their finances on autopilot.
The old set-it-and-forget-it mindset of investing just doesn’t work anymore. The financial world is interconnected with global events and the associated ripple effects reach our markets. It’s because of this that it takes a much more active approach to successfully plan for retirement.
If watching your investments on a daily basis is not on your list of favorite things to do, then consider getting professional help. One of the biggest reasons for working with a qualified financial advisor, besides their expert guidance, is to have someone who is actively managing your portfolio. There’s no shame in admitting that you could use some help with your investments, and it’s certainly better than leaving them unattended and open to market risk.
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To be a new client, the process to get started is easier than you think. We offer complimentary, no obligation financial reviews to take the stress out of the initial conversation. This is your time to ask questions, and our time to understand the goals and dreams you have for the rest of your life. It’s also the start of building a trust-based relationship focused on helping you achieve your financial goals.
For our current clients, we offer the same reviews to make certain everyone stays on the same page. As you inch closer to retirement or move along as a retiree, your goals will most likely change. Ultimately, our goal is to help you be well-prepared for the season ahead.