Page 37 - AreaNewsletters "July'19" issue

B US I N E S S
Are You Suffering From Ohnosis?
Retirement planning is not a zone or singular event. Spending in your 20s, 30s and 70s has an impact on your retirement. Further, retirement is not isolated. What you spend on a vacation or car may a ect your retirement later. Unrealistic lifestyle expectations make a happy retirement impossible.
Advertisements for cash out re nancing and home equity credit lines are dominating the airwaves. It is so important to understand that your home is not a retirement account. I have lived in Castle Rock since 2002. With the appreciation of our real estate in Castle Rock, this is a real pressing “local” issue. Signi cant “home improvement” does not always make sense. If you are considering a retirement planning discussion, it is important that you keep the following information top of mind: More than ever before (and even after the last economic downturn) proxies for your money such as credit cards can physically and psychologically separate you from your money. Careful budgeting and spending plans are needed. Financial support decisions for extended families are positioned front and center. The Boomer generation is nancially helping their adult children who remain or move back into the home, aging parents and perhaps even grandparents. While historically it has always been part of the mix, taxation now seems to be an even bigger nancial challenge. Finally, healthcare policy and expense have the potential to sabotage many retirement plans.
Financial security and retirement are emotional discussions. The key is understanding your individual positioning and prioritizing the decisions you make today with regards to spending, saving, borrowing and investing.
Avoid Ohnosis through preparation. The complexities of retirement planning increase the need for an adviser. I am happy to help.
“Let’s grab a cup of co ee for a second opinion.”
(oh-noh-sis)
- the realization that you should have
started planning for retirement years ago.
By Dan Maurer, CEO/Owner DWM Family Wealth Ltd.
Watch for Future Articles:
• Current Market Perspective • Castle Rock Real Estate
• How to Find an Advisor
All nancial planning services are provided free of charge to our retired or active Police, Fire Fighters, Teachers
and Military.
Investment Advisory Services o ered through DWM Family Wealth Ltd.
“Let’s meet for a cup ofco ee and a second opinion.”
Investment Advisory Services o ered through DWM Family Wealth Ltd.
Aware Accessible Accountable
Architect Your Financial Future.
It is nice to understand your plan and the advice you receive.
Dan Maurer, CEO/Owner Dan@DWMFamilyWealth.com 303-814-2349
37 Castle Rock “AreaNewsletters • July 2019