So, if you are anything like us, you’re looking forward to Thursday. Boy, do we love Thanksgiving! There’s no better time to share a terrific meal with the people you love. It doesn’t get much better than that.
If you’re hosting Thanksgiving at your home, or have done so in the past, you are aware of the tremendous investment of time and money it takes to pull off a traditional meal. You have to plan out the menu, source all of the ingredients, cook, and carefully time everything just right. Every dish has its own cooking time, so synchronizing all of the various dishes to be ready at once is a medal worthy logistical feat.
If you’re celebrating at a family member or friends house, then your amount of preparation is considerably different. The main responsibilities you have are to bring a thoughtful gift, be on time, and show up hungry. Either way you are probably aware of the tremendous commitment your hosts will make in preparing this meal for you. I’ve been on both sides of the equation and actually prefer hosting the meal. It’s a great way to share your home and food with the people you care about.
The way you approach Thanksgiving, and its associated preparation process, has a lot of similarities with creating your financial and legacy plans. Think about it, they both involve a commitment of your time and resources, and the end result is about sharing what you have with your loved ones. Just like the various dishes you serve complement the main course, your financial plan should consist of various investment buckets designed for different purposes. Whether it’s for income, required minimum distributions, or for legacy planning.
If you’re not sure if your retirement plan is as well orchestrated as your Thanksgiving dinner is, maybe it’s time we talk. You can start by scheduling a complimentary, no obligation financial review so we can discuss your retirement goals.
Starting with your goals also helps us evaluate whether your current plan is capable and on track to achieving them. From there, we can discuss all of the available options we have to help you maximize your portfolio, and minimize your risk. All with the ultimate goal of helping you safely achieve your retirement goals.
So remember, it takes commitment and attention to detail to create a successful retirement plan. And if you do it right, there should be plenty of leftovers for your loved ones.