Retirement and/or remaining retired doesn't just happen. The people looking ahead to retirement have a major challenge on their hands. Not only do they have to convince all those affected, but they have to plan the whole process.
For many years the following acronym has helped people to think through their plans whenever a major challenge or opportunity approaches:
As an investor, one of your main goals is, of course, building a nest egg for your future. This will involve not only making difficult decisions at times, but also learning a bit about investing itself so that you can make those decisions wisely.
You, as an investor, must develop your philosophy as an investor and act consistently as a investor and not as a speculator. The goal of speculating is to achieve a large gain in a short amount of time. Speculation involves a large risk in nearly all circumstances because, as we always say, if something seems too good to be true, it probably is. That's not to say that speculating can't pay off; it can, but the trade-off for potential large, quick gains is usually a considerable risk of loss.
By contract, investors commit to a long-term strategy based on sound investment principles. An investor also seeks to gain money, of course! But the focus is on the long view, not the short-term, fast gains.
Future retirees and those who are already retired need to put in place a team that will work to achieve the goals desired. This team should include the individual as well as a financial advisor, a CPA, and an attorney. This will accomplish the planning ahead that is necessary and also aid in the continuing monitoring of the process of reaching retirement.
Burrows Financial works every day in planning and monitoring retirement plans for individuals who want a plan that works. We strive to eliminate the risks to ascertain that the retirement goals are achieved. If you don't have a team in place, I can be of assistance in forming a team for you. It is never too late or too early to ease yourself of the worries and concerns by setting goals for your retirement.
No question about it, Moses had a major challenge on his hands. Not only did he have to convince everyone...including Pharaoh...to let him lead the Hebrew slaves out of Egypt, but he had to plan the whole process. To mobilize his countrymen he first had to organize them. That required shrewd planning. He had to plan ahead...not lead from behind.
Have a great day!