A big mistake many retirees make is that they get too conservative. They think that once they turn 60 or 65, they should just have cash and CDs, or maybe T-Bills. That is not an appropriate investment strategy.
It is, maybe, if you have enough money and can afford it. If you have few demands on your portfolio.
Most people can’t afford that. They are going to need to have some riskier assets, whether stocks, or stock funds, or ETFs, and bonds or bond funds.
You need to have an appropriate allocation. What is that? One that will allow you to achieve your goals while also allowing you to sleep at night. Sometimes it’s hard to find the appropriate balance and sometimes what is appropriate changes.
It’s something you can explore, and you can explore it with us. What you shouldn’t do is try to avoid any short-term volatility, because most people need it.
Not everybody does, and if you’re in a place where you don’t need it, hey, that’s great, and kudos to you. That’s not most of our clients.
My name is Mike Garry, and my company is Yardley Wealth Management, LLC. We are a fiduciary, fee-only financial planning, and wealth management firm in Newtown, Pennsylvania. (That’s in Bucks County).
Our law firm is Yardley Estate Planning, LLC and is in the same place. We only do Estate Planning work and I am licensed in Pennsylvania and New Jersey.
If you’d like to talk about this or anything else, please reach out: 267-573-1019, [email protected] or @michaeljgarry