Why? Because losing too much money after retirement is why many retirees have to go back to work or even worse… change how they live in retirement if they can’t work!
After our income and budget review, we find in most circumstances that many retirees will need to take distributions from their investments at some point in the future if not immediately. Between cost of living increases and emergency expenses, the question of how to take distributions from a retiree’s investment and saving accounts will need to be discussed. Sadly, many people well into retirement do not have a clear understanding of how to take distributions from their portfolio. Even worse, they are unaware of the risk and fees involved with their current portfolio and how this could drastically impact their financial security.
Guardian Wells Financial offers “financial stress test” review to let a retiree understand how much money could be lost during a bear marketor depression (i.e. 2001, 2002, and 2008). As mentioned earlier, being on your investment risk and fees are the first steps to making better decisions about your money. This level of decision making support is what matters most to the families we serve here at Guardian Wells Financial.