There are so many unknowns when it comes to the impact this pandemic is going to have on our economy, the stock market, and your individual financial plan.
Do you have enough money set aside so that you won’t have to sell any portion of your portfolio to pay for your lifestyle expenses? One retirement withdrawal strategy that our clients use is called the three-bucket strategy.
Have you recently reviewed to see that your portfolio is properly diversified, given the current circumstances of what’s going on?
Are you certain that your fear or worry around future market losses will not cause you to sell your investments if things were to decline again?
Do you have a written plan in place that you continually update? Especially during times like what we’re going through now, do you have something that you can continually update every year, to make sure that you’re still on track?
If you answered no to any of these questions, and you’re a client, then please give us a call so that we can talk and review your plan.
If you’re not a client, then read through or listen to the questions again, and then think what “would I have to do so that I can answer yes to all four of these questions?” or bring it up to your advisor.
If you don’t want to do either of those things, then I welcome you to our website, streamlineplanning.com. See if there’s a time slot available; we’ve got 15 minutes slots available throughout the week. I, or one of our advisors, would be glad to talk you through these questions.