How are you doing on your new years goals? The most common goals are to lose weight and save more money. Do you have a timeline to your goals; long term or short term? Is it possible to know your financial needs for the future if you can never know your lifespan for certain? Ensure your golden years to be Eggcelent by positioning your nest for long-term financial growth!
Long-Term Financial Growth For Retirement Success
“A 60 or 70 year-old should realize some of the money set aside for retirement won’t be needed for another 20 years. This money can be invested the same way it was invested 20 years ago. It should be positioned for long-term financial growth, knowing you have plenty of time on your side”
As the years go by in your career, you are likely investing your retirement fund more aggressively. You do not need the money soon, so you are willing to stomach higher risk in an effort to gain a higher reward. Even if there is a down year, you have time to recover loses and still have high growth by the time you retire and need the money. At that point you can move the money into more conservative investments to help to preserve it despite volatility, since that is now your income. However, you do not want to place all your money in safe investments.
20 years down the road, you will still need distributions in your retirement, so why would you investment your money 20 years out like your money 5 years out? This is not maximizing your potential in your retirement. Within those 20 years, you have the ability to risk more for the higher reward. This strategy can help to preserve your position despite inflation and taxes, both of which always are increasing, as well as possibly giving you a raise.
Meet with a Tranel Retirement Plan Advisor!
Meeting with a financial advisor can allow you to better understand this strategy and get a fully unique date specific, dollar specific retirement accumulation plan that is tailored towards your goals. Long-term financial growth is not just prior to retirement, it exists throughout retirement.
The content in this post was approved while The Tranel Financial Group was affiliated with a previous firm. The views and opinions expressed are those of The Tranel Financial Group at the time of filming and do not necessarily reflect the views of Harbour Investments, Inc.. This material has not been reviewed or approved by Harbour Investments, Inc. and is not intended as a solicitation or recommendation. The data and analysis do not represent the expected future performance of any investment product or strategy. Investments involve risks, including possible loss of principal. The Tranel Group currently offers securities and advisory services through Harbour Investments, Inc. Member SIPC.
Note: This content is for informational purposes only and should not be considered financial or tax advice. Please consult with your financial or tax advisor for guidance tailored to your specific situation.