Road to Retirement: The Economic Plan

We have received many calls with great comments and questions on last months BLOG - The Emotional Plan. Please keep us informed of your thought process.

Next - The Economic Plan of Retirement

At some point, a person moves from "person at work" to "money at work."  Hopefully, you can make a seamless transition from your last paycheck to an income generated from your assets. Social Security and Pensions are plans that create an income that is somewhat easy to manage. They do, however, need to be reviewed and analyzed to make good selections for your overall plan.

Turning assets held in 401(k), 403(b), IRAs, and investment accounts into an income that you will not outlive needs deeper thinking. The biggest enemy of an investment plan is the person's reaction to volatility. Your tolerance to this volatility changes quite dramatically after you receive your last paycheck.

It's time to review your tolerance to volatility. You cannot be too aggressive and you cannot be too conservative. Too aggressive will eventually put you in a "frightened" position. Too conservative will eventually put you in a "what happened" position. I suggest you let us take you through "the lifeboat drill."

Keep your distribution plan flexible and reasonable as things will always be changing. As we said last month, "Make plans and God laughs."

How to get started:

Collect your Social Security Statement, all investment and retirement plan statements to confirm values and set up a meeting with us to review.