Mark Fricks - Chapter One -- DESTINATION RETIREMENT
from Jeff Roediger - Replacing Wall Street With Main Street Hosted by Jeff Roediger
• Just like planning for a vacation or a trip, your retirement plan needs to consider your goals and objectives, or it won’t be a good plan for you. The answers to the question, when should I retire, will be different for everyone, based on your lifestyle and the people in it who are important to you. • There is a difference between a retirement product such as a mutual fund or annuity and a retirement plan. As you move out of the working stage of your life, you are no longer earning income. A shift must be made from the accumulation of your money to the management of your money. Before you take off on your retirement trip, identify where you are now by taking the time to understand what you are invested in and what those investments are doing for you. • The rules for retirement planning have changed. Investing the way your parents did will not pay off and the majority of investment ideas used by financial professionals in the 1990s aren’t applicable to today’s markets. That kind of investing will likely get you in trouble and compromise your retirement. Today, you need a better PLAN. Having a planful approach to retirement gives consideration to today’s stock market and economy, and the individual concerns of you, the investor.
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