As we ring in 2018, the stock bull market that started in 2009 continues. The extended length of this bull market (close to historic levels) has caused some people to become concerned about a correction, which leads to considering moving more of their portfolio into bonds. Generally, bonds can be a good diversifier and lower the volatility of a portfolio when added to the asset allocation.
This isn’t our parents’ or grandparents’ retirement anymore. Just a few decades ago, many retirees enjoyed the full benefits of the “three-legged stool” of retirement provide by guaranteed pension payments, savings, and Social Security.
It's my belief that humor can be motivating, draws us together, and allows us to view our lives from another's perspective. I hope you enjoy this assortment of quotes relative to how others have viewed retirement.
“The best time to start thinking about your retirement is before the boss does.” - Anonymous
One of the most fundamental tenets of financial planning we faithfully apply in our work with our clients is to Plan for the Expected, and Prepare for the Unexpected. Our many years in practice have provided us with continuous reminders that life-unexpected happens with the potential to derail the best laid plans for the expected.
While our extended longevity should be greeted with gratitude for the possibility of enjoying a longer life with our grandchildren, many retirees are approaching it with trepidation, wondering if their hard earned assets will be sufficient to fulfill their vision of a good life for the rest of their life – however long it should last.