We’re passionate about the process of developing financial plans for long term investors. The secret to doing well in the market is not in buying fad stocks or over-hyped investment products, it’s about developing a long term financial plan and sticking to it. That’s why we are a little frustrated to hear about the federal government’s latest scheme to help out middle class investors.
The US Treasury Department recently unveiled plans to offer guidance to retirees on how to invest their retirement funds into income-yielding investments like annuities. Worried that individuals may outlive their investments, the Obama administration wants to encourage retirees to consider income investment products with guaranteed life payouts.
“By emphasizing investment choices over the planning process, the federal government is doing a disservice to seniors who are looking for guidance on how to make their retirement years as comfortable and stress-free as possible.”
Ted Toal, CFP® –Senior Partner, Rockwood Wealth Management
The good news is that the feds are concerned about every day investors. The bad news is that they think they can help retirees with magic bullet investment products. What good are new investment options without a plan? Picking investments without a process in place is like trying to buy a new car blindfolded.
Investment products are only part of an investment plan. The most important part is the financial planning process, in which a long term plan is developed for each investor. Outliving savings is a real concern for retirees, who are living longer than ever. However, by emphasizing investment choices over the planning process, the federal government is doing a disservice to seniors who are looking for guidance on how to make their retirement years as comfortable and stress-free as possible.
We believe that financial planners are best suited to helping working investors and retirees plan for retirement. The planning process that we execute is designed to help investors develop financial goals, evaluate their current financial status, and develop a road map for long-term financial stability. Most importantly, our clients get independent advice that’s not tainted by affiliation with one investment product or another. We want what’s best for each client and develop tailored financial advice based on each client’s goals, financial position, and personality.
Do you have any questions about how the government’s new pay-out options will affect your retirement plans? Let us know in the comments!
Or, schedule a no-obligation financial consultation with us.
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