3 Retirement Mistakes That Could Derail Your Financial Future

In this discussion, Colin Richards explores several common retirement planning mistakes that can create unnecessary risk for investors approaching or already in retirement. From becoming too emotionally attached to an investment or financial advisor to failing to build a comprehensive retirement plan, these decisions can have long-term consequences. Colin also explains why retirement planning requires a different mindset than simply accumulating wealth. A retirement strategy may need to address income, taxes, Social Security, inflation, estate planning, investment risk, and how your portfolio could respond during changing market conditions. We cover: • Why becoming emotionally attached to a stock or investment can lead to concentrated portfolio risk • Why a financial advisor who helped you accumulate wealth may not necessarily specialize in retirement planning • How failing to create a comprehensive retirement plan can leave important financial risks unaddressed • Why inflation, taxes and changing expenses should be included when planning retirement income • How Social Security decisions can affect your long-term retirement strategy • Why estate planning and risk management are important parts of a broader retirement plan • How becoming complacent with an investment strategy can expose your retirement savings to unnecessary market risk • Why regularly reviewing and updating your retirement strategy can become increasingly important as your circumstances and financial markets change Retirement planning is about more than simply reaching a target account balance. A thoughtful strategy should consider how your income, investments, taxes, healthcare, estate plan and risk-management approach work together throughout retirement. Request Your Complimentary Retirement Freedom Review 720-372-0400 https://lordandrichards.com Investment Advisory Services offered through Lord and Richards Wealth Management, LLC, a Registered Investment Adviser.