Oh how often we daydream about our lazy days of retirement?
Do you picture yourself on a beautiful beach in a resort setting or maybe in a big city environment? What ever your retirement daydream may be, you really need to ask yourself : how will you pay for your retirement investment strategies to give you the income you desire?
In order to really live the dream of retirement, you need to get real.
Math equals (=) numbers and numbers don’t lie. They just tell the truth. Numbers don’t care who you are or where you want to go. They have no personality but a lot of meaning. Numbers are there for everyone to put to use in their retirement investment strategies.
First, how much do you need per year? Maybe your Social Security
and pension or IRA’s add up to $ 25,000 per year. You have to figure all your expenses even if you plan to down size. There are probably ‘things’ you want to do that you haven’t done before. Maybe a trip to Europe or 2 cruises per year. You’ve had your eye on that ’62 Corvette
you could never afford. Add on a little extra for the unexpected. Let’s say $ 5K per year. So in total, you will need an income of about $ 45,000 per year. If you minus your guaranteed income of Social Security and pension (IRA), you will need an extra $ 20,000 per year.
Holy extra income batman. So, Robin comes out of the bat cave with retirement investment strategies.
Most retirees continue to work because of financial need and to avoid boredom. If you don’t plan to work, retirement investment strategies
may include downsizing by selling your home and taking the surplus to invest for a monthly income. Where will you invest those funds? Just like your life before (retirement), life in retirement has no guarantees.
So, you must approach retirement investment strategies with an open mind and stick with sound retirement investment strategies that will benefit you.
Any investment counselor should be able to help you see the importance of retirement investment strategies that fit your risk tolerance and needs. Only use a financial specialist that has credentials, tax attorney or CPA.
Once you start dipping into your retirement investment strategies,
keep a flexible attitude about spending so you may keep on track.
What’s important is that there are not retirement investment strategies that are generic. In your tools, there will be a mix of
index funds, managed funds (actively) and funds that should be targeted for certain dates and guaranteed principal funds. When you hear the word, funds, it simply means your money deposited into a certain product that will fund or earn you income.
Your goals should include maximum wealth, high returns and growth.
As you are approaching retirement, your retirement investment strategies should take you out of risk investments and place you into conservative and guaranteed investments with certain percentages of your portfolio in each. Retirement investment strategies are based on a relationship of risk and return. What are some retirement investment strategies?
* mutual funds
* stocks, also known as equities
* bonds: municipal, corporate, federal gov’t
* annuities
* c.d.’s
Each may have their own inner or sub investments. Due your due
diligence. It’s retirement investment strategies for your future and yours alone.
Ric Dalberri is a graduate of Columbia State University & has been involved in his own business (sold) employing over 100 people. As
well as being a top producer as a Financial Specialist for over a decade with one of the largest financial institutions in the U.S., Ric has many years experience in sales and management. Ric was also a mentor in
the financial arena as well as a volunteer teacher for Junior Achievement.