Retirement is the most significant financial goal we face during our lifetime. Once retired, you need to manage your financial affairs in a sound manner consistent with your lifestyle. In addition, you need guidance on the many challenges you will face as you age.
Our advice is governed by three basic principles. The first is “Balance,” which involves having realistic expectations with regard to your spending plan, coupled with an enjoyable lifestyle. "Capacity" is the next principle. Your financial assets should adhere to our “durable portfolio” strategy which includes: adequate diversification, cash flow from dividends and interest, strategic use of alternative investments and positioning for potential growth in excess of inflation. Lastly, “Continuity” involves proper estate planning so you can feel comfortable that your transfers to others at your death is handled in the manner you chose.
Many of our retired clients also choose to write “letters of understanding” to educate their heirs as to the history and expectations that are inherent with any inheritances that may come their way. Charitable bequests are handled in the same manner.
Careful attention must be paid to the uncomfortable aspects of the aging process. Taking responsibility for living a healthy lifestyle and seeking medical advice in advance of developing problems should be a priority. Passing your wisdom and knowledge to subsequent generations can serve to empower you while helping others.
A long-term relationship with your team of advisors can serve to maintain your prosperity and assist you and your family members for generations to come.