5 Questions for Your Retirement Investment Plan

No matter your age, getting money together for your golden years is a major concern. Throughout your working life you’ll be bombarded by advice and sales pitches, making it all the more difficult to find the right financial path. All we know for certain is it’s never too early to start saving, that’s the easy part. But, after that, what else should you ask when making your Retirement Investment Plan? Here are five things to think about as you get going:
When will you retire?
The rest of your decisions will spin off the answer to this question. Your age and planned retirement date will determine how you invest and, to some extent, what your goals are. Conventional wisdom points the young towards more aggressive, stock-based strategies and guides those nearing retirement to stable bond- or annuity-centered assets.
What do you have?
Your retirement portfolio can include a wide variety of options. Many people have a 401(k) from an employer or a Roth IRA and a savings account of some kind. What you bring to the table at the start will help define the necessary steps to ensure your investments are diversified appropriately to help you reach your goals.
Where will money come from?
Understanding the assets you have will give you an idea of which funds will be disbursed when. If, for example, you own real estate properties that provide a steady monthly income, you may be able to allow your other investments to gain value before making any withdrawals.
Who can you talk to?
Though it is entirely possible for you to handle the task on your own, chances are you’ll want to get some help along the way. It can be challenging to figure out the difference between a trusted professional and a thinly-disguised salesperson. Talk with friends and colleagues about who they work with, then make some calls.
How disciplined are you?
The point of doing Retirement Planning from investment point of view is to set you on a course for financial security when your working life is over. This means you will have to stick to whatever strategy for investing and spending you come up with for the long haul. Do a gut check and make sure you’re willing to follow through, your future depends on it.

Leave a Reply

Your email address will not be published. Required fields are marked *