So, you’re worried about volatility in the stock market and what it could do to your retirement savings? Downturns (drops) in the stock market and retirement funds got you panicking? Wondering about your retirement plan and potential losses in the stock market? Thinking about how to make up for portfolio losses? Concerned about the impact of a long-term illness expense in retirement portfolios?
Maybe you’re wondering how the new presidential administration affects retirement plans, or how law changes impact retirement planning? Perhaps, the impact of inflation and taxes on retirement planning has you guessing about what to do?
Well, just like in March Madness, upsets make for a thrill, but a familiar team usually wins. Ten strategies to survive threats and grow your retirement portfolio will help you survive upsets in your bracket, and make a layup – (cough, cough) Justin Jackson, for the trophy.
The month of March is basketball tournament time, and the theme during this time in the season is ‘Survive and Advance.’ In order to continue playing and prevent the season from being over, you have to win to move on to the next round. In today’s ever changing and volatile financial world, your retirement plan has to be set up to survive and advance. This means you need strategies.
Your working years are very similar to the regular season in basketball. While saving for retirement, you may be able to afford some up and down years in the market as you have time to recover and to continue building your nest egg. However, in your pre-retirement and retirement years, the theme is the same as the tournament. Threats to your retirement in this time period are too risky. You need strategies to thwart these threats, take your team to the championship round, and win.
How do you do this? Well, your first objective is to survive. Your second objective is to continue growing your money.
But, how do I avoid big hits to retirement portfolios, and how do I grow my retirement portfolio, you ask?
The answer is strategy. There are ten strategies to protecting and growing your retirement nest egg. Your retirement plan has to be able to survive the volatility and severe downturns in the market. It also has to survive congressional law changes, tax law changes, economic changes and many other threats to your nest egg that can have major impacts on your overall plan. To grow your retirement fund, you will need to battle longevity, inflation and increases in living costs. You also need to become more tax efficient to protect yourself from increasing tax rates in the future.
It is tournament time for your retirement plan. So, join me on the podcast where we will discuss these strategies. You will learn at least 10 tips to protect and grow you retirement plan.