To Retire With Confidence, You Need A Plan!

If you want to retire with confidence, you need a plan.


As you near retirement age or even within a decade or so, it is time to start doing some serious financial planning. Retiring with confidence is to develop a plan that makes sense for you and then, here’s the hard part…executing it.  Once the plan is in place it should be reviewed at least every year and/or every time you have a major life event like a wedding, buying a new house, change in job status, health issues etc., to make sure you’re on track


There are a number of risks we need to consider – those we know and don’t know. This includes increased longevity, inflation, family responsibilities (such as caring for parents), healthcare, and interest rates. All could have a major affect on finances and lifestyles.


Believe it or not, a couple with both spouses at age 65 today has a 50 percent chance one of them will live past 92, and a 25 percent chance one will live to 97, in which challenges can arise. Unless you have serious health risks or unfortunate heredity, basing your financial planning on a 95-year lifespan makes sense.


Peace of Mind Investing is built on a single premise that’s been time-tested through the Great Depression, two World Wars, and multiple other major events – yet is incredibly simple. The grand premise: stock prices rise over time, but the reality is you should follow these key points as a starting place:


  • First, set return goals based on the amount of risk you are willing to take. Think of it this way, how much am I comfortable losing if and when the market goes down.  Everyone is comfortable taking risk in an up market.


  • Second, never put at risk what you need to live on to cover your expenses.


  • Third, continually review and evaluate you plan making sure it adheres to your wants and needs satisfying you income needs.


  • Fourth, you need to make sure you are accounting for inflation and rising healthcare costs to ensure you don’t run out of money.


  • Finally, remember there is no retirement without income and that income has to be reliable and sustainable.


Retirees and pre-retirees must manage risk vigilantly. Withdrawals from a portfolio that sustains significant declines can accelerate the loss in value. Risk management is imperative and so is being an active participant in your planning process.


EGSI Investment Management d/b/a EGSI Financial Group (EGSI )is an investment adviser registered with the State of Ohio . Please contact EGSI if there are any changes in your personal or financial situation or investment objectives, or if you wish to impose, add or modify any reasonable restrictions to the management of your account. Our Form ADV Part 2A & B is available upon request.

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