Wolf Retirement Navigation September 2017


works if a retiree already has safeguards in place for principal protection and reasonable growth potential.

The stock market couldn’t be better. We’ve spent almost nine years in a bull market, the second longest upswing in the history of the stock market. It might feel like the good times will never end, but remember every seven to 10 years since the Great Depression, stock markets have made large corrections. Basically, we’re overdue for market corrections. When that downturn inevitably arrives, many people may panic and look to their financial advisors for answers.

These safeguards include structuring your portfolio based on tactical asset management to help limit losses in bad times — with growth during the good times — having a portfolio monitoring system in place for market-based accounts to help protect gains against worst-case scenario losses; using fixed and/or fixed indexed annuities for 100 percent principal protection, reasonable growth potential, and/or guaranteed income that one cannot outlive, to name a few. There is no one-size-fits-all approach to retirement planning. The best advice for your future requires the following traits in your financial advisor. Your advisor should focus on retirement. Successful planning in retirement takes a different skill set than accumulating your savings takes during your working years. More importantly, you want to work with a financial fiduciary, someone who is legally required to put your interests before his or her own pocketbook. If you ask your financial advisor if he or she is a fiduciary and the answer is “no,” what the advisor is saying is he or she is under no obligation to act in your best interests. “Hang in there” shouldn’t be where the advice ends. When the market dips, you want your advisor to say, “Hang in there because there are specific safeguards that will protect your plan.”

“Hang in there,” financial advisors everywhere will declare. “Just stay the course. The market will always bounce back.”

While the market does recover, riding out the storm isn’t the best advice for everyone. In your working years — the accumulative phase of building your retirement plan — when the market dips, there’s time to recover. However, for retirees and those close to retirement, a bear market can mean reducing or losing retirement income or delaying retirement altogether. “Hanging in there” only


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Every day, we’re grateful to our clients who continue to trust us as we help them navigate the road to financial security. It means a lot when you introduce your friends and family to us so we can help them too! This month, we offer our special thanks to: Vickie D. Susie E. Barbara C.

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