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With any luck, your will be in retirement for 2 or 3 decades – or more. Your investments will have to be properly positioned to ensure that your needs are met and you can do the things you want to do. Before any investment plan is developed, however, the first step is to ensure that proper retirement planning is done to assess your particular goals, risk tolerances and situation.
The challenge to retirement investing, however, comes from the wide range of risks facing today’s retirees. Consider some of the various factors that will affect your retirement:
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Health care costs have increased almost 10% per year for the last decade. |
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Income tax rates, which have been on a decline since Ronald Reagan was in office, are likely to increase in the future as budget deficits soar. |
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The Social Security system is in jeopardy and its future is uncertain. |
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Energy costs and general living expenses have increased considerably. |
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People are living longer, which increases the risk of potentially outliving assets. |
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Families are expanding and may require additional financial help from their retired parents. |
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Investment returns, especially in the stock market, have become more volatile and less predictable. Meanwhile, higher correlation rates between asset classes mean that markets now tend to move together more closely, blunting traditional methods of diversification. |
These uncertainties and changes add considerable complexity and uncertainty for today’s retirees. Investing for retirement requires that considerable care to ensure not only capital preservation, but growth in capital to help account for higher costs living in the future. It pays to have a trusted financial advisor and wealth management firm on your side.
Horan Capital Management is the firm of choice for many retirees.
To learn how we may help you, call us at 800-592-7534.
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