Take a Refresher Course on Your Retirement Asset Strategy

When you reminisce about your academic years, whether high school, college, or postgraduate studies, you will remember the wonderful occasions you experienced when you had all of life ahead of you. Schools provide students with the resources they need to attain their future potential. The same thing applies to retirement planning! Because you have your whole life ahead of you in retirement as well, you must ensure you are prepared.

Revisit your Risk Tolerance

Is your retirement portfolio’s risk profile congruent with your risk tolerance? It’s critical to distribute risky and safe assets across sectors and asset classes in accordance with your retirement goals. For example, a retiree might allocate a portion of their portfolio to high-growth tech stocks, while allocating another portion to consumer staples stocks that pay dividends to diversify across asset classes such as real estate or bonds. It’s critical to get it right, as your future comfort may depend on it.

Revisit your Income

Your goal in saving throughout your working life is to provide you with income in retirement. The time to do so is either now or not too far away. You must consider your money in a different way. To maintain the value of your money and provide you with optimized income, whether in the form of dividends, interest rates, or withdrawals from retirement accounts, you must ask yourself different questions, such as how much your money may grow in value.

You must also consider your Social Security strategy. It is not as simple as reaching retirement and receiving Social Security payments. You may opt to take Social Security payments early or to wait to receive more money if you have good reasons. To help yourself get the most out of Social Security, you must work with other sources of income to determine the timing that is most suitable for you.

Talk to a Financial Advisor

There are a lot of moving pieces to a retirement plan that will depend on your unique situation and goals. A financial professional will know what tools to utilize to help you meet your retirement goals. But not all financial professionals are the same. Some want to sell you cookie-cutter financial products that don’t make sense for you. But we consider your unique situation to make sure all your bases are covered as we help you work on your financial goals. You might not be getting the most out of your finances without a tailored approach. So, talk to us today for a no-obligation financial review.

Because investor situations and objectives vary this information is not intended to indicate suitability for any individual investor.This is for informational purposes only, does not represent legal or tax advice does not indicate suitability for any particular investor, and does not constitute an offer to purchase or sell investments.Investments in securities involve a high degree of risk and should only be considered by investors who can withstand the loss of their investment. Prospective investors should carefully review the “Risk Factors” section of any prospectus, private placement memorandum, or offering circular.

Maximizing your Social Security Benefits assumes foreknowledge of your date of death.  If as an example you wait to claim a higher monthly benefit amount but predecease your average life expectancy, it would have been better to claim your benefits at an earlier age with reduced benefits. Content regarding social security is not associated with or endorsed by the Social Security Administration or any other government agency.

Advisory Services are offered through Asset Strategy Advisors, LLC (ASA), a SEC Registered Investment Advisor. Securities offered through registered representatives of Concorde Investment Services, LLC. (CIS) or RCX Capital Group, LLC (RCX), both members of FINRA/SIPC. Insurance Services offered through Asset Strategy Financial Group, Inc. (ASFG). ASA, CIS, RCX and ASFG are independent of each other. All research reports from third parties are for informational purposes only.

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