Page 14 - The Other Side of The Mountain October 2018

Choosing the best trail down the mountain

There is an endless amount of information available about
retirement planning and managing your sunset years. Advocates
will often promote products or processes based on their
experience and biases. This is not to judge or minimize their value.
These are resources you can use to increase your own
understanding and help you to live a comfortable and rewarding
retirement.

5 Things You Can Do Today to Guarantee a Better Retirement

In the end, it all boils down to five guiding principles you can use
to reach your retirement goals. Here they are:

1. Build a comprehensive retirement plan that includes a
budget and a long-term view of your financial situation.
Do not be “blindsided” by unexpected medical expenses,
taxes, cost of living increases, home maintenance,
increased rents, transportation, and the like.
2. Cover your basic everyday living expenses with
guaranteed monthly income. This will give you peace of
mind and eliminate your market and longevity risk.
3. Diversify your portfolio. Research confirms that most
retirees can manage up to eight classes of investments.
More than this may diminish your returns.
4. Assemble a team of professionals to help you manage
your retirement. As a minimum this includes a CPA, a life
Insurance and Annuity expert, a qualified financial advisor
for securities, and an attorney for wills and trusts.
5. Act today! Procrastination is your enemy.

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