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The Right Retirement Mindset

Financial Planning Insights Investing Behavioral Finance Retirement Planning

Having the right mindset when starting a new endeavor can often help push you over the line toward achieving your goals.  With one of life’s most important decisions being retirement having the right mindset is vital.  The decision to retire is often much more than achieving a certain age or length of service at an employer.  Most investors have been saving for decades to feel comfortable and confident enough to retire. Hopefully, you have done the planning work that is often required to make your retirement a success.  Once the foundation of your retirement plan has been laid you should start to think about what mindset you will need to help push your plan over the goal line.   Throughout your retirement, you will need to have discipline, faith, and courage in the face of the next three-plus decades to come.

Discipline is required to help keep you on your path in retirement.  Inevitably you will face adversity during retirement in the form of market volatility, health concerns, changes to tax law, and inflation just to name a few.   It will take discipline to maintain your course in retirement and to know when a change to your plan will be needed.

Faith is required to help get you through any period of such adversity previously mentioned.  When you have a plan in place, you must have faith that you have done the leg work required to see you through to better times.   When stocks are down it is your faith that markets have always recovered to new all-time highs that will help keep you true to your investment plan.

Courage is needed to take the necessary risks so that your nest egg can grow with the ever-rising cost of living.  With inflation top of mind over the last 8 months or so, your retirement nest egg will have to grow with you throughout your retirement years.  It will take courage in the face of market volatility to remain invested so that you can maintain your spending power over the next three-plus decades.

In addition to having the right retirement mindset of discipline, faith, and courage, having the right financial advisor to help guide you through the planning, implementation, and monitoring of your retirement plan can make all the difference.   Having a trusted professional to keep a watchful eye on your hard-earned nest egg could help you save thousands over your retirement by helping you determine the right investment plan, determining when to elect Social Security benefits, or how to create a tax-efficient distribution strategy in retirement.

If you and your life savings are being ignored or feeling taken advantage of, come join our family. We are a family-owned financial planning and investment advisory firm that promises to treat you like family. No products. No hard sell. No gimmicks. Just honest advice based on four decades of experience.