Your Survival Guy wants you to think about your retirement life. Recently, in a conversation with a client, he told me his older brother, who’s 65 years old, is invested like a 25-year-old. “65 may be the new 55,” I said, “But it’s not 25.” This, I’m afraid, is the new normal. Investors are not properly diversified or allocated. Remember, it’s not so much about what you’re invested in as it is about how you’re invested.
This is not a surprising development. Investors have been taking on too much risk since the beginning of time, only to learn the hard way. When markets are up, they have faith the trend will continue, faith that they’ll get out in time and that stocks always come back. Maybe, but not necessarily on your schedule.
What is also true from the beginning of time is how investors are separated from their money. We see it today with bitcoin ETFs, fixed rate deferred annuities, and private market offerings. Investors put their faith in these products, but the only faith providers of such services have is in extracting fat fees.
Action Line: Take time to look at your investments and make sure they’re based on truths, not faith. Hope is not a strategy. When you’re ready to talk, let’s talk. But only if you’re serious. Email me at ejsmith@yoursurvivalguy.com
Originally posted on Your Survival Guy.
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