If you’re getting close to retirement—or just recently entered it—here’s a simple question:
Do you have a written financial plan for your retirement?
Transamerica did a survey of baby boomers and found that their top two retirement fears are both financial. The good news? Those fears can often be addressed with a clear, written retirement plan.
Most People Have No Real Plan
Over the past 25+ years as a financial planner, I’ve had many people come to me asking the same question:
Can I afford to retire?
What they’re really saying is, “I don’t have a retirement plan.”
Most couples spend more time planning a one-week vacation than they do planning a 30-year retirement. No wonder retirement feels scary.
A recent study by Cerulli Associates (shared in Financial Advisor) found:
- 1 in 3 do-it-yourself (DIY) investors start seeking advice when they’re about 5+ years from retirement.
- 1 in 2 formerly DIY investors become advisor-reliant once they’re within 5 years of retirement
In other words, while you’re working, it can feel fine to pick your own investments. But as retirement gets closer—and paychecks stop—people tend to look for a team they can trust to help protect what they’ve spent a lifetime saving.
Who Are You Relying On?
Consider these questions:
- Who do you turn to when you have financial / investment / retirement concerns?
- What information are you relying on? Are they aware of your individual financial circumstances?
- Are those sources aligned with your long-term goals?
Articles, blogs, quotes, and well-meaning friends can offer ideas, but they don’t take your full financial picture into account—and they aren’t responsible for your outcome.
What’s Your Real Investing Goal?
Is your priority:
- Trying to “beat the market,” or
- Building a investment & financial strategy designed to support a long retirement?
For most retirees, soon-to-be retirees the focus shifts toward risk management, income planning, and long-term sustainability rather than short-term performance.
A diversified mix of investments—such as stocks, bonds, gold and cash—can help spread risk, but diversification does not guarantee a profit or protect against loss. The specific mix you choose should be tied to a written plan that reflects your goals, time horizon, and comfort with risk.
A Few Pieces of Straightforward Advice
- Stop obsessing over this year’s returns.
Retirement is a 10–50+ year plan, not a one-year project. Stay diversified. Stay invested. - Expect the unexpected.
Life won’t follow your spreadsheet. When things go wrong (and they will), a trusted local financial planner can help you adjust and stay on track.
Want Help Building Your Plan?
If you don’t have a financial planner you’re working with today, we’d welcome a conversation.
Our goal is to be a trusted steward of our clients’ financial resources and to help them pursue and maintain financial peace in retirement.
You can reach us at:
📞 864-293-7452
📧 [email protected]
