#233 - You Asked: Investing for Retirement “Given This Market”

from Retirement Answer Man · host Roger Whitney

Episode 233 is the second episode in the You Asked series. During the entire month of August, I answer listener questions. In the hot topic segment, I confront the constant precursor that begins every financial conversation - “Given this market.” What does this phrase really mean? Why are people suddenly concerned with the markets now, should they be, and just what markets are they talking about? During the practical planning segment, I get the opportunity to answer several interesting listener questions. You won’t want to miss this episode. Listen now to learn about ‘this market’ and investing for retirement. Given this market . . . People think there’s something special about the markets right now, but the truth is, there has always been something going on with ‘this market.’ We had inflation in the 80s. The early 90s presented us with massive corporate layoffs. In the late 90s, we had the tech boom. Real estate was down, then it was up, then it was way up, then down again. We will always feel worried about the things that we can’t control. The most important way to combat ‘this market’ is by diversifying and managing your balance sheet, not just your investments. Listen to this episode to learn why you should be mindful of ‘this market’ all the time and to hear what you should be doing to help you in ‘this market.’ What market are you talking about? When you preface the investment question with ‘given this market,’ just which market are you talking about? The market is not just the S&P 500. There are so many different markets out there. If you have a well-diversified portfolio then you should have investments in a range of markets. Yes the S&P 500 has had an average rate of return of over 10% over the past 10 years. It has been a nice long run. But this only includes U.S. stocks. The global market has only had an average rate of return of over 2.8%. It is important to know where your money is invested and just how diversified your balance sheet really is. Listen to this episode to hear why it is so important to have an agile approach when investing for retirement. Why is it so important to have an agile investment practice? The first thing to consider when investing for retirement is to know what kind of life you want to live in retirement. Next, you need to be agile. Your investment practice should be agile enough so that you can move with ease and without worry when one market gets a bit hairy. Lastly, you must pay attention. Paying attention to what is going on with your balance sheet will allow you to make little adjustments along the way. Investing for retirement is not a sure thing which is why it is so important to diversify and to stay on top of what is happening in ‘this market.’ Listen now to find out how to keep your retirement investment practice an agile one. My listeners ask the best questions Are you curious about 401k’s or Roth IRA’s? Do you know about the backdoor Roth IRA? One listener asks about the best way he should be investing for retirement. Have you ever considered buying a small home overseas to use for part of the year? Is this a good idea? When is it a good time to take social security early? What should you do if you get laid off at age 60? I answer all of these questions and much more on the practical planning segment. Listen now to hear my best answers to interesting listener questions. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT [2:39] Why do we always preface our investment questions with ‘given this market’? [4:14] What market are you talking about? [7:18] Why is it so important to have an agile investment practice? PRACTICAL PLANNING SEGMENT [12:15] Should we put more into Roth than 401K? [16:59] How to invest a large lump sum for retirement? [19:33] How to purchase a small apartment overseas [22:08] When is it a good time to take social security early? THE HAPPY LAB SEGMENT [25:38] Think about what does this make possible? TODAY’S SMART SPRINT SEGMENT [27:54] Respond to our email so we can work to serve you better Resources Mentioned In This Episode Episode 231 on Maximizing Social Security Roger’s YouTube Channel - Roger That BOOK - Rock Retirement by Roger Whitney Ask Roger a question Work with Roger 3-video Series: 5 Minute Retirement Makeover Roger’s Retirement Learning Center The Retirement Answer Man Facebook Page

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This episode is 30 minutes long.

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This episode was published on August 8, 2018.

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