Category: Career after Retirement
How to Get Past the Career Crossroads by Asking One Powerful Question
Jason 0 Comments Career after Retirement
Are you feeling overwhelmed with the career decision and not knowing what to do next? Have you been asking friends and family, what should I do? Where should I go? And not being satisfied with the answers that they’re giving you? Have you been feeling that something’s missing? That there’s a piece of the puzzle that’s missing of why you can’t decide on where to go in your career path. I’ve been there before, 10 years of university, college and after that, not knowing what to do with all my education, with all the experience that I had, extra curricular, everything even doing well, I always felt like, what’s missing? There’s a bit of information that I’m missing here. Why can’t I figure this out? Am I not smart enough? Do I not have the guidance? Do I not have the resources? And so I’ve been there, I’ve been overwhelmed and just not knowing how to make this really important decision or not knowing what was important to me. And so, one thing, the thing that I’m sharing with you here is one thing that really helped me to move that needle, was to set aside time for thinking, time to ask the most key, the most powerful questions that got me there.
One common grievance that I hear is the notion that I’m stuck at a crossroads and I don’t know what to do. I don’t know which direction to go. I don’t know where to focus my efforts. It is completely understandable because there is a big decision to be made and it is an important decision, and for some, maybe for you, it is a scary decision. It’s a scary decision and an important decision with varied and unpredictable outcomes. So you may be feeling a little bit overwhelmed or paralyzed in asking the question, “what should I do next?” without clarity of the root of the problem. But the thing is, wisdom comes not from getting the right answers, but you were conditioned to do that since grade school, where you’re conditioned to find out the right answers.
You’re conditioned to believe that if you don’t have the answers, then where do you go from here? If you don’t have the answers, that it’s hard to figure out what the next step is. You’re conditioned to believe that through school, through parenting, through media, that you got to find the right answers. But wisdom really comes from asking the right questions. Put in the comments below. What are your go-to questions that you ask yourself regularly when considering your career path or the next step of your career path. Start by asking what are the upsides to this particular career choice? And usually you’re the expert at this one because it’s always easy to figure out the desirability of a certain action. It’s easy to know “what are the benefits for you?” What are things that you’ll find pleasurable and enjoyable going down that career path? So start with that question.
What are the upsides to that career path? Then from that question, transition to the next question of “what could go wrong” if I choose this career path. This question is usually one that you might struggle with because it’s not natural for us to think this way. It’s easy for us to think what benefits me from going down this career path. But what could go wrong? You might need a little bit of assistance.
You’re probably conditioned to be irrationally emotional or optimistic about the career path you’re choosing. This question requires a little bit of assistance because you weren’t conditioned to answer questions of that nature of what could go wrong. So seek assistance in answering this particular question and that could be simply getting feedback from someone you trust about it. Come up with answers and try and going on it on your own first. “What could go wrong in this career path,” try coming up with the answers on your own first and then get feedback from someone you trust, someone who has gone down that career path or a similar career path and ask them if this is reasonable.
If you are being overly optimistic or overly emotional about the answers to these questions and be open to that feedback. And from that last question, then transition to the next one. Ask yourself, “can I live with the downsides of this career path?” This is the most important question you could ask when choosing which path to go down. And that’s because this particular question gives you insight into the root problem and expands the number of possible solutions that are out there for you.
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Read MoreAnna Downs Discusses Pre-Retirement Planning Tips
Jason 0 Comments Career after Retirement
foreign [Music] this is retired life news online sandwich between your occupation'' s last chapter as well as retired life is a transitional duration referred to as pre-retirement although there'' s no hard as well as quick policy for when this phase need to start if you'' re not taking note it might pass you by and leave you ill got ready for what follows and joining me is Anna downs as well as she methods in Superior Wisconsin Anna welcome back so the very first step is imagining your retired life right a couple of starting items of discussion is what does retirement look like for you do you wish to travel that'' s going to create a requirement for an extra investing greater than you are spending today what does your budget look like do you still have home loan repayments do you still have automobile settlements there are several aspects that need to be taken into account for us to really visualize what will certainly retirement resemble from there it assists us springboard onward in developing a plan together in layering the next actions so thinking of your customers exactly how do you establish an earnings plan there is a detailed procedure that I use when developing an earnings prepare for somebody in retirement initially we start with visualizing retired life several of the variables that we currently discussed do you intend to travel what does your budget plan resemble then moving on we discuss danger tolerance as well as durability at that factor we after that consider your Investments that you have in assembling a strategy that you feel comfortable with ultimately retirement can vary dramatically among retirees it'' s essential that you ' re functioning with a consultant that makes a plan customized to what your demands and also wishes are so a location that it'' s typically forgotten by individuals getting right into retired life are health and wellness care costs that'' s an important factor to consider best health insurance coverage costs can be among the greatest barriers for individuals to retire very early it is vital if you select to retire before the age of Medicare that you have either a strategy that'' s advanced from your previous employer or on your partner'' s prepare otherwise and also you require to purchase private health insurance policy it is earnings driven this is something that has an extra cost that you require to be completely gotten ready for it'' s essential to function carefully with your medical insurance representative your CPA and also your monetary organizer when buying medical insurance prior to Medicare age that'' s Anna Downs in Superior Wisconsin and also this is return retired life News on-line [Music]
Read MoreJohn Sciancalepore of The Investment Center Discusses Retirement Income Planning
Jason 0 Comments Career after Retirement
foreign [Songs] civil servant you have top quality Federal retired life benefits your benefits are different from economic sector staff members in a variety of means unlike economic sector workers numerous federal workers have access to pension plans in addition to 401k like strategies for their retirement futures for instance joining me is John shank Lepore with the investment center John divides his time in between Germany Italy and Jacksonville Florida so he'' s an active guy John thanks for joining us while a government pension plan behaves it likely won'' t cover all the earnings requires in retirement so how do you develop a lifetime revenue stream Scott thanks for having me Scott we use numerous methods to assist the clients pertain to the verdict that although a government advantage of pension plan is beneficial and also numerous it'' s possibly insufficient for the individual to live the retired life that they wish to so by leveraging several Technologies and also doing a truth finder we can put a dollar number on just how much money that customer or customer pair will need so that they can have the type of retirement that they desire John with people living much longer now how can you shield what'' s been saved however still supply development via retired life well Scott we'' ve got a huge series of items that practically fit practically every customer situation Once more by going back to the fact finder we can match the proper product with that said specific'' s requires in regards to durability there are a number of Solutions available that can we we can use to supplement their currently ensured pension to consider that specific or pair yet another source of surefire revenue so it seems like in the majority of situations it truly makes good sense to function with an expert skilled as well as government advantages I would agree yes my method evolved throughout the years I offered on energetic task with the armed forces right after college however going via college I knew I wished to enter the economic markets I truly appreciated my time in the middle church yet I knew I had a greater calling I have structured my technique to deal with active service military retired armed forces as well as government employees since I took pleasure in these partnerships while I got on energetic responsibility and it makes feeling to deal with an advisor that lived that life and recognizes all about these intricate advantages due to the fact that rather honestly a whole lot of advisors in the industry wear'' t truly discover government workers or energetic obligation armed forces appealing potential customers my assumption has actually been John shank Lepore with the financial investment facility and also this is retirementnewsonline.com foreign [Music]
Read MoreAnna Downs Shares Retirement Income Planning Tips
Jason 0 Comments Career after Retirement
international [Music] retired life revenue technique thinks about many variables consisting of the retired people unique monetary resources as well as needs exactly how and also when you tackle them is essential my visitor is Anna Downs in Superior Wisconsin Anna welcome so the four percent regulation that'' s a typical kind of drawdown technique is that still valid well indeed correct the 4 percent guideline was really derived after the technology bubble in approximately 2000s and that was truly established to create a flooring or an income that was low sufficient to stand up to Market fluctuation or volatility as well as likewise create a stream of income that was approximately 30 years it is still utilized as an industry criterion however naturally it doesn'' t come without conflict some analysts suggest that the existing withdrawal rate ought to be minimized to 3.3 percent as a result of current market conditions and also naturally every scenario is various so you really need to speak with your organizer in regards to what'' s the very best withdrawal price in regards to your situation so Anna exactly how do you recognize when to assert Social Security advantages there are numerous variables that require to be thought about on when to file for Social Safety an economic organizer ought to have the ability to aid you browse whether you intend to pick very early Social Protection with a minimized benefit full Social Security or delayed Social Safety and security with a 8 percent increase annually if you were to choose early Social Safety and security there are numerous elements that require to be taken into account primary the price of insurance coverage prior to Medicare age and number 2 if you'' re mosting likely to remain to have actually any kind of earned earnings and how it might reduce your Social Safety advantages in basic other points that you require to think about prior to applying for Social Safety and security is your budget just how much your other assets or financial investments will certainly generate in earnings and also your life span and lastly just how can someone create assured lifetime revenue as typical life span has increased it is very important that you have a stream of earnings throughout a 30-year timespan or potentially much longer although the 4 percent withdrawal rate is made use of as a sector standard you can not ensure market performance an alternate tool to use in retired life is an annuity with an ensured lifetime income right or on it it produces a reliable resource of retired life earnings for one'' s life time inevitably retirees have an array of choices so it'' s crucial that you'' re dealing with a coordinator that you really feel heard as well as comfy with a strategy moving on my visitor has been Anna Downs in Superior Wisconsin and thank you for watching retirement News online [Music]
Read MoreHow To Decide On A Career
Jason 0 Comments Career after Retirement
– I do have a lot of, I know, Millennials, and young people asking me, you know, Dan, how do I pick the right career for my life? And I believe that picking the right career is probably one of the most important decisions that you’ll ever make, because when you pick the wrong career, you can waste a lot of time, and years sometimes, if you ever had this experience, you pick a major in school, and then you study that for a few months, maybe even a couple years, you’re like, you know what, actually, I don’t like this subject that much. It’s because my friends told me I should take this, or my mom and dad told me I should take this, but actually, I hated this, I don’t like the subject, I don’t like the school, I don’t like what I’m studying, I don’t think I’m going to have a career, on this particular path, and then you switch.
And they try something else, and you’re like, no that’s not quite what it is yet, and they switch again, in between you’re wasting a lot of valuable time. So, when it comes to picking a career, let me share with you my own experience. Now, I wish I could tell you that, this is, I got here, because this is exactly how I envisioned myself and what I’m going to do. It’s not like that at all, because in the very beginning, all I wanted to do was to provide for my mom, because when my dad when my dad went bankrupt, with over a million dollars in debt, he could no longer send us money.
He was in Hong Kong back then, so I’m the only child in my family, I had to take care of my mom, so, all I wanted to do, forget about career, forget about finding my path, I just wanted to make some money, so that I can eat, so that we can have food on the table, that was it. So, fast forward today, I have to say I have the greatest job in the world.
I get to work when I want, where I want, with whom I want. Having such a great life style, being able to, not just materialistic things, but everything that I have, right. That I’m able to impact so many people’s lives, as a global educator. Now back then, it didn’t start off like this, so I believe to find the right career, number one, the very first piece of advice I want to give you is, if you’re a young person, and you are not so sure what is the perfect career for you, it means that you have not tried enough things. Because it’s like sports, how do you know what sports you would excel in, if you haven’t played enough? So let’s say you’ve only played basketball your whole life. You’re like, you know what? Maybe I’m a pretty good basketball player, but maybe you’re only five foot five. And you thought, you know what? This is what I like to do, maybe this is my career.
Well, maybe you haven’t tried other things. Have you tried swimming? Have you tried football? Have you tried soccer? Have you tried ping pong? Have you tried other sports? When you try enough things, it is a elimination process, very quickly you would know, you know what, that’s not my thing. For example, I’m a horrible painter, right? I am not a good artist, that’s not my thing, right, I’m horrible with that. I would not have a career in that. In spite, other people might love it, but I can’t even draw like a stick person well, right, my handwriting is not good. So that is not my career, eliminate it very, very quickly, okay, and then for athlete, or sports, and a lot of these different things, that’s not my thing either, so I’m not going to have a career in those professions, so I eliminate that.
So when I was young, my dad actually wanted me to be a lawyer, when I was very young. And I thought, yeah lawyer is my thing, I’m gonna be a lawyer, right, and after I learned a little bit more about it, no, I’m not going to be a lawyer, right. I learned that that’s not my path, it’s the path that my dad wanted for me. Then later on, actually, I wanted to be a firefighter, I still, nowadays, I love firefighting movies, I have an uncle of mine who is a very, very good firefighter, he’s been firefighting his whole life, I always would like to talk with him, and he shared all these stories with me, these just like life altering and life changing stories, and so my uncle was a firefighter, but then I found out that’s not my thing either. And then, once I learned martial art, I though, I am going to be a martial art instructor, that is my calling, I want to open up a little school, and that is what I’m going to do for the rest of my life, because I like to teach, and the problem is, that when I found out that my instructor, my martial art instructor actually couldn’t even make rent, he was struggling with just a few students, I’m like, I love martial arts, but I cannot make a living doing this.
I cannot help my mom doing this. So that doesn’t work either. And I tried many, many different things, I stumbled upon business, I started being a copywriter, and consultant and speaker, and a lot of these different things, and not in a million years could I imagine I would be doing what I’m doing today. It’s only after so many of this zigzag, zigzag and I found my place. You see, in life it’s very important for you to find your place. To find a place, where this is where you belong, this is what you were meant to do.
I believe, and not everyone agrees with me on this, that I believe your career, if your career, you just focus on, I want to do what I love, you will struggle financially. You have to get the money thing out of the way first, so you can have more choice, so you can take that money and invest in yourself. You have to make some money first. And that’s what I did, I wasn’t just, I wasn’t following my passion, I just wanted to make a living. So first, profit. Your career, if your career can make you profit. A decent amount of profit, you have to start with that. You see, in the Asian culture, even in Chinese culture, Chinese doesn’t talk a lot about passion, they work long hours, if you’ve ever been to Asia, they work and they want to make money. In North America, it’s some think the opposite. When I came to Canada, it’s much more, laid back, and say, I want to find my calling, I want to find what’s my gift.
It’s okay I’m struggling financially, I want to find my thing. In Asia it’s like, what the fuck are you talking about. You talk to Asian people, they’re like, you do whatever makes you the most amount of money, like duh. Nothing right or wrong about between both philosophies, but I found that at first, focus on profit. Find something that can make you money. So you get money out of the way so you can focus on what’s important, and that’s life, you get your time back. Then once you’re making good money, if you can also find something that you’re passionate about, that would be good. If you can combine profit, with passion. And if there’s something that you’re passionate about, for example, when I found out that I love teaching, I love speaking, great, I’m passionate about it. I learn, I study, I master the craft, and I get better, and I make more with that. And people pay me more, more, more money doing that. I thought to myself, this is great, I don’t like golfing, I don’t like fishing, that doesn’t interest me, but teaching, I love this. This is my hobby, this is my passion, this is what I love to do, it doesn’t get old.
This is how I can be on stage for days, and I can talk without a script because of that. It’s my passion. So when I can combine passion and profit, guess what, you make more profit, cause you love what you do. And if you love what you do, of course, you get good at what you do, then at the very end, when I hit 30 years old, I found my purpose.
I found that this is what I want to do for the rest of my life. When I know what I do impacts people’s lives. When my father passed away, and I thought to myself, what’s my legacy, what do I want to be known for. Do I want to be known for as, I can imagine it in my funeral, at my funeral, I’m lying down there in my casket.
Do I want people to say, you know what? Dan Lok has made a few dollars. He’s successful financially, he’s a wealthy guy, or do I want people to say, you know what? That man changed my life. And I say, I want people to say, that man changed my life. And I found my purpose, and that’s why I do what I do today. I can combine my purpose, with my passion, and also makes a lot of profit, all into one.
When you can do all that, that’s very, very special. And I’m very, very grateful, I have found my ideal career. Now, my career may not be your career, but start with profit, then maybe through that, you’ll find your passion, then when you know to a point, this passion may become your purpose. That thing you, if you ever get to that, you are very, very lucky person. I am a very, very lucky person. When I can live every day living my purpose, following my passion, and also making a lot of profit, life doesn’t get better than that. So that’s my recommendation, that’s what you need to do. No one can tell you, I cannot tell you, no one can tell you, you’ve got to find your own path. But, that’s my recommendation, that’s how you decide on your career. .
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Read MoreSteve Beller of POG Financial Shares Ways to Minimize Risk in Retirement
Jason 0 Comments Career after Retirement
foreign [Songs] the longer the time one spends in retirement the harder it ends up being to be certain about a retiree'' s financial end result so in preparing for retired life or in staying in retired life you should understand the threats that lie ahead and exactly how they can affect your financial safety my guest is Steve Beller with POG Financial in Parma Ohio so Steve one method for managing danger with Investments is diversity speak about what you see with new clients in your technique would you claim that a great deal of them believe they'' re Diversified but actually aren ' t well well Scott that is absolutely terrific concern I hear that a lot in terms of diversification a lot of my customers that I'' ve collaborated with generally tell me that they have either you recognize some shared funds supplies and also their 401ks their IRAs and more but a great deal of the moment generally it'' s really the very same supplies right so if you are not completely Diversified whether it be with money worth life insurance or a set index method that gives the benefit without any downside when the market uh essentially has a slump so you don'' t wake up one early morning and primarily 20 22 percent of your account has been erased as a result of Market uh disadvantage down slumps and and losses on the market like it'' s essentially had more than the last couple of years so can you discuss the distinction in between a client'' s risk tolerance and also threat capacity sure that ' s one more fantastic question Scott so take the chance of tolerance I check out it as even more of a more emotional right it'' s what can you what are you happy to approve in the marketplace in regards to exactly how much cash do you in fact need when you retire to make sure that threat resistance is actually emotional what are you ready to do what accounts do you desire your money in where they can expand as well as so on risk capacity is much more along the lines of what can you manage just how much cash do you in fact need to take into your account on a month-to-month yearly basis whether it be an indexing approach shared fund stocks cash money worth life insurance policy that'' s going to offer you an earnings stream for the remainder of your life when you retire so exactly how should Market danger in a portfolio change as somebody obtains closer to retirement oh I can truly get that inquiry at all times so when a person obtains closer to retired life you are dealing with a Time Perspective right so where are you today and also the amount of more years do you have entrusted to retirement so for circumstances you have five years left can you really pay for to have all your eggs in one basket as well as if there'' s a slump in the market and you'' ve been erased 20 percent 22 percent and also currently you need to go back to function for five years 7 years since you can not manage to retire to ensure that actually is a fantastic concern I obtain that a great deal Steve lastly what are a few other dangers take into consideration in retired life intending one of the large ones is outlasting your riches and also Investments that is among the greatest risks I see that people do not plan appropriately based on having a varied profile to make sure that their cash is secured and they'' ve been investing for a long sufficient duration of time based on their time Perspective on when they have left to retire that making certain that they have sufficient riches and an income stream to last them for the remainder of their life my visitor has actually been Steve Beller with POG Financial in Parma Ohio many thanks for seeing retired life Information on the internet foreign [Music]
Read MoreBuild a Support Network | A Strategic Support Network is Your #1 Career Asset
Jason 0 Comments Career after Retirement
No one is successful alone. We all need help. So even if you’re in a career you love and you’ve got a great job, if you don’t have a strong support network, then you’re missing the number one asset you need to be successful. Today I’m talking about what makes up a strategic support network, and how to get one going. Let’s get started. Hi. I’m Mel Savage, founder of The Career Reset, where my goal is to help you end needless career suffering, and create a career that makes you feel confident and powerful and excited to get out of bed in the morning. Check out my free tools and course and coaching options at thecareerreset.com. So I know a lot of you are like, “Yeah, yeah. I have a good relationship with my boss and people like me. I’m good. I do not need a support network.” And if that’s you, that’s great that you have all those things.
But it’s a very passive way to handle your support network, and you’re selling yourself short. By being less passive and more active with your support network, you’re taking control of your career and accelerating your ability to grow. You will get more opportunities and faster growth if you actively pursue a strategic support network. So here’s what I’m covering today. Number one. What makes a support network strategic, and why that’s important. Number two. The big three pillars of a powerful and strategic support network. Number three. Where is the best place to start with all of this? Lots of good stuff in this week’s video, so let’s start with what makes a support network strategic and why is that important. So strategic is kind of a fancy-shmancy intimidating word that people use that really just means staying aligned with a purpose or a goal. And I don’t mean your life purpose or whatever, I’m talking about a purpose.
So if your purpose or your goal is to get a dream home in a specific neighborhood, what strategic actions do you need to take to get you there? For example, get clarity on what makes a dream home a dream home for you. Hire the most connected agent in the area. Send out feelers or plant seeds with people you already know who live in the neighborhood. Right? Those are three strategic ways to go after getting your dream home. So to get strategic with your support network for your career, you must know what your goal is. Right? Get promoted to a specific position, find a job at a specific company, et cetera, whatever that is for you. And then, your purposefully build a support system to get you where you want to go so you can get there faster, and without making as many missteps along the way. Now let’s talk about what goes into this strategic support network. And for that I had developed the three big pillars. They literally spell the word big, so dead simple for you to remember. And the three big pillars are backup, influence, and guidance. Now the first pillar is called backup because it’s for when you need backup, when you need a wing man or someone you trust to kick your butt to do something.
Maybe someone to come to an event with you, or maybe just an apathetic ear to listen and understand what you are going through after you’ve had a hard day or an embarrassing moment. Or even a completely unbiased voice to push you to do something that you’re struggling with. So this can be people like close friends, a family member, a work buddy to go to an event with, or even a coach as an unbiased voice. The key is to have someone who’s on your side and has your best interests at heart. The next pillar is influence. And these are the people who have influence over you achieving the goal you’re going after. And there may be lots of people in this case, but you’re going to go after the top ones that are the most meaningful ones to you. Some will be key people you work with or who work for you, some will be senior people or seasoned people who could influence the decision-makers for what you’re going after, and some might be even a critic of your work.
Right? In all cases, you want these people to see you at your best. And the final pillar is guidance. These are the people who help you avoid the potholes, and help you understand what you need to do to reach the goal you’re going after. Right? These are your mentors or even a career coach. I know that sounds like a lot of people, and it might be, but once you have it all planned out and you know where your priorities are, a lot of this can be integrated into what you do every day. So the next obvious question is, where is the best place to start? And I’m going to give you an ambiguous answer. I recommend starting with your biggest need. So you have your goal and you’ve identified what you need to do to get there, and decide what you need within those three big pillars of your support network, and then you can start. You can start with your biggest gap, i.e. you need to get a mentor to guide you on the major skills that you need that you’re going after.
Or instead of going after your biggest need, you can decide, “You know what? I want to build up some momentum by tackling some of the smaller stuff first.” I don’t really think you can go wrong. As long as you keep your support network top of mind and are actively and purposefully strengthening it, you’re doing great. If you want to learn more about building a strong support network and creating a powerful career plan or a career that you love, then get my free download Get the Career You Want, the six step by step strategies to confidently making your perfect career move.
It’s not just about rebuilding your entire career, it’s focused on giving you the step by step framework for building that wildly successful career that you love. So get your hands on that. You can get it in the description or at my website at thecareerreset.com.
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Read MoreSteve Beller of Appreciation Financial Shares Ways to Minimize Risk in Retirement
Jason 0 Comments Career after Retirement
foreign [Music] welcome back this is retirement News online so the longer the time spent in retirement the harder it becomes to be certain about a retiree's financial outcome so in planning for retirement or living in retirement you have to understand the risks that lie ahead and how they could impact your financial security and joining me is Steve Beller with appreciation Financial so Steve one strategy for managing risk with Investments is diversification so talk about what you see with new clients in your practice would you say that a lot of people think that they are Diversified but really aren't well well Scott that is absolutely great question I hear that a lot in terms of diversification a lot of my clients that I've worked with basically tell me that they have either you know some mutual funds stocks and their 401ks their IRAs and so on but a lot of the time basically it's really the same stocks right so if you are not completely Diversified whether it be with cash value life insurance or a fixed index strategy that provides the upside with no downside when the market uh essentially has a downturn so you don't wake up one morning and basically 20 22 percent of your account has been wiped out due to Market uh downside down downturns and and losses in the market like it's basically had over the last few years can you talk about the difference between a client's risk tolerance and risk capacity sure that's another great question Scott so risk tolerance I look at it as more of a more emotional right it's what can you what are you willing to accept in the market in terms of how much money do you actually need when you retire so that risk tolerance is really emotional what are you willing to do what accounts do you want your money in where they can grow and so on risk capacity is more along the lines of what can you afford how much money do you actually need to put into your account on a monthly yearly basis whether it be an indexing strategy mutual fund stocks cash value life insurance that's going to provide you an income stream for the rest of your life when you retire and then Steve how should Market risk in a portfolio adjust as someone gets closer to retirement well I can really get that question uh all the time so when someone gets closer to retirement you are dealing with a Time Horizon right so where are you today and how many more years do you have left to retirement so for instance you have five years left can you really afford to have all your eggs in one basket and if there's a downturn in the market and you've been wiped out 20 percent 22 percent and now you have to go back to work for five years seven years because you cannot afford to retire so that really is a great question I get that a lot finally what are some other risks to consider retirement planning one of the big ones is outliving your wealth and Investments that is one of the biggest risks I see that people do not plan appropriately based on having a diversified portfolio to make sure that their money is protected and they've been investing for a long enough period of time based on their time Horizon on when they have left to retire that making sure that they have enough wealth and an income stream to last them for the rest of their life my guess has been Steve Beller with appreciation Financial thanks for watching retirement News online foreign [Music]
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