investment-plan

Your investment mix and overall investing plan is an essential component to building a safe, secure, and enjoyable life in retirement. If you don’t have an investment plan and aren’t sure what to do at the moment, keeping investments in cash may be appropriate before you have a plan to execute. And, if you do have an investment plan in place, then it is important to consistently monitor it and ask questions after the fact to make certain you’re in the best financial position possible for your retirement. No matter what stage you are at in the retirement process, it is important to work closely with your trusted financial professional.

Prior to entering the market, you should have a plan. Investing is no easy task, especially when it’s not your full-time job to stay on top of it.  This is where an experienced financial advisor can help.  They will help in assessing your risk tolerance based on your personal financial situation. By taking your individualized situation into account, they are able to make recommendations for asset allocation or investments based on your individual goals. In addition, they can serve as a great behavioral coach along the way.

Once you have a good investment plan, it is important that you execute and consider consolidating all retirement accounts. People today have more jobs than they used to in the past.  This may lead to more than one retirement account, each potentially with different investment allocations. In some instances, the investment allocations have become outdated making it crucial that you stay on top of your plan after creating it.

Consolidating your retirement accounts can provide you with convenience and control over all of your retirement accounts.  It may make managing your investments easier with a single point of reference.  This may also help you potentially reduce fees associated with multiple accounts, determine a sustainable withdrawal strategy, manage the process of taking required minimum distributions, and keep your asset allocation updated to reflect what’s best for you today.

So, whether it’s before you’ve created an investment plan, or years after the fact, make sure you’re working alongside your trusted advisor to live out the retirement you deserve. To dive deeper into your current investment plan, click here to download our investment management guide, and don’t forget to schedule your complimentary, no obligation financial review!