The Road to Retirement = 4 Simple Steps

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Jim Lorenzen, CFP®, AIF®

When I was young, my father once advised, “Jim, just save 10-cents out of every dollar you ever earn and you’ll never have to worry about money the rest of your life.”

He always was smarter than I’ll ever be.  He was also right.  But, while I listened, I didn’t follow his advice, which puts me right with most of America.

Behavioral finance is a young science that uses psychology to understand irrational thinking.  DALBAR has been studying investor behavior for over thirty years and concludes that investors can be their own worst enemy.  They usually make bad decisions at critical points.  Example:  During October, 2008, equity investors lost 24.21% while the S&P Index lost 16.8%. [Source: Investment Advisor, June 2016]

Behavioral finance suggests investors remember losses more vividly than gains, even if the gains are greater!

Last March was the seventh anniversary of the bull market – the third longest rally in history.  Yet many have failed to realize much of the rebound due to their of buying back when the market was low.   Many may also believe that we’re in a Fed-fueled market, anyway; but, that’s another discussion.

Sometimes, the value of an advisor is in saving the client more than his or her fee on the downside.  After all, much of what investors need to do is more related to behavior than investment prowess.

4 Simple Steps Post_001Like my dad’s advice, the steps to a successful retirement aren’t simplistic; but, they are simple.

I created a short report, 4 Simple Steps to a Comfortable Retirement.  It’s not earth-shaking, but for many I’m sure it will be well worth reading.

I hope you’ll find it both informative and helpful.

You can access it here.

Enjoy!

Jim

 

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® serving private clients since 1991.   Jim is Founding Principal of The Independent Financial Group, a  registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

 

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Jim Lorenzen, CFP®, AIF®

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor with clients located in New York, Florida, and California. He is also licensed for insurance as an independent agent under California license 0C00742.  IFG helps specializes in crafting wealth design strategies around life goals by using a proven planning process coupled with a cost-conscious objective and non-conflicted risk management philosophy.

Opinions expressed are those of the author.  The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

Jim's picture
Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor with clients located in New York, Florida, and California. He is also licensed for insurance as an independent agent under California license 0C00742.

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