In an ideal world, we would all outlive our retirement income, but how do we build a retirement portfolio that delivers? One that balances our individual tolerance for risk with the level of income we need for a comfortable retirement? Try assessing factors such as your age, your assets, your retirement needs, and the available investments, and some of your answers may seem contradictory. How do you determine an acceptable level of overall risk for your individual situation?
New Tool For Identifying Your Risk Tolerance
Safe Harbor Financial now has cutting edge technology that identifies your personal tolerance for risk as well as your acceptable level of reward with unparalleled accuracy. Using this tool, we can help ensure that your portfolio aligns with your investment goals and expectations.
We can now:
- Capture your unique Risk number
- Align your portfolio
- Help meet your retirement goals
Using this technology, we can often help a family save money and increase their financial security in retirement. Together we can take the guesswork out of your financial future.
Each family’s strategies are different, but by knowing your Risk number, we can tailor your portfolio to fit you just right. For example:
- We’ll look at your old life insurance policies and compare them to single premium life insurance. These new policies allow you to stop paying premiums and offer both life insurance and long term care insurance. You essentially give yourself a raise during retirement!
- Other new financial products include some that front-end load your annuity payments so you receive more during the early years of retirement when you can finally start traveling and adding new activities. Payments taper down in the later years when you’ve slowed down and are spending less.
- Product options are too numerous to mention but all are tailored to your situation and your Risk number.
When Should You Start Retirement Planning?
If you’re under 50: We often hear from young people who have listened to our weekly radio show for a year or so and think it is still too early for them to start planning for retirement. We say NOW is the time, even if you are still in the early years of marriage and raising a family. And even if you are taking care of both your own family and your aging parents, getting started early is smart and it means you’ll be on the right path until retirement comes.
If you’re over 50: You know retirement is coming up faster all the time, but you may not know that area manufacturers are forcing out and retiring up to 25% of their older employees. No, it’s not pretty, but it’s happening, and it’s important that you come in for a portfolio analysis sooner rather than later. Don’t be caught financially behind if you should suddenly find yourself out of work and into retirement earlier than you had planned.
How Do You Get Started?
Don’t wait. We offer a complimentary consultation that we tailor to your current situation and retirement needs. Simply request an appointment and let’s get started. We’ll find out your risk tolerance using our new technology and compare it to your current portfolio. Get in touch with us to schedule a consultation and learn more about outliving your retirement income.