Your Investments Need Fit and Purpose
Investors typically save for decades to reach their goals.
Then they spend part or all the nest egg over a few more decades.
Saving investors may seek portfolio growth.
Spending investors typically prefer stable income streams.
Many portfolios are assembled on a makeshift basis.
Others are populated from different product sources over the years.
Ask yourself this: “Do all your investments have fit and purpose with your goals?”
If you can’t answer this question, action is required whether you save or spend.
First, stop buying random stuff for your portfolio.
Then take a close look at the “why” you own what you have.
It’s important to achieve two things:
- All investments must fit your game plan.
- Every investment requires clear purpose in pursuit of your goals.
Otherwise, your collection becomes a tangled muddle of stuff.
Our short list of simple steps untangles your muddle:
- Portfolio goals defined — Estimate the family retirement income goals you desire.
- Probe retirement capital — A “what if” scenario ballparks whether your capital can outlast longevity, say to age 90.
- Pursue asset mix — If you don’t follow a portfolio “asset mix”, find a portfolio manager to design yours.
- Ponder retirement spoilers — Assess potential damages if your portfolio incurs a large loss, high inflation or serious health costs.
- Plan to invest — Develop your well conceived plan for the long run, then methodically fill the investment prescription.
Taking these steps assists in shaping a better investment plan.
If required, a second opinion can reduce your apprehensions.
Be certain your investments have purpose and are fit to own.
Don’t accept anything less.
I welcome your contact.