Why do you go to work every day? If you’re like most people, you work because you need to put food on the table and, with any luck, a little in the bank for a rainy day. The reality is, in today’s economy, one needs to plan well ahead of retirement to ensure one can stay financially stable once their desk is cleaned out for the final time. This is especially true if they want to move into a top ranking senior assisted living facility to see out the rest of their years. A big part of that is choosing the right investments from early on. By making the right decisions now, your retirement savings will continue to grow throughout your working years and allow you to live comfortably after retirement. To do that, you’ll need the help of a good financial security advisor like Robert Yancovitch .
Before you work with any advisor, however, it’s important to ensure that you know how much you can afford to invest. It’s a good idea to have a handle on this figure before you step foot into an advisor’s office. Why? Because the amount you can afford to invest can have an important bearing on the types of investments you choose.
Another factor to consider when choosing your investments is the length of time you plan to leave your money in the market. Are you looking for short-term gains or long-term growth? Robert Yancovitch will require this information so that he can make recommendations to you about the types of investments that would best help you to achieve your financial goals. If you aren’t sure how long you might want or need to leave your money in the market, your advisor can discuss the pros and cons of various options based on our particular situation. From there, he can make recommendations for you and show you how each option could potentially affect your retirement savings, for better or worse.
Are you comfortable with risk? Generally, there are two types of investors. The first type, the conservative investor, prefers to invest in more “sure bet” investments, understanding that these investments will offer lower payouts but also less risk. The second type of investor is the risk taker. This investor sinks money into more high-risk investments and is content to ride out the downturns, confident that a gain is around the corner. Knowing where you fall on the risk tolerance scale is important before you meet with a financial security advisor. That information will help him to direct your attention to the types of investments that are most in line with your level of comfort regarding risk.
Choosing a financial security advisor can be an intimidating process, especially if you aren’t well-versed in the lingo and language that may be bandied about in financial circles. However, the right financial security advisor will be only too happy to take the time to answer all of your questions, to find out about your investment preferences and tolerance for risk as well as getting an understanding of your long-term financial goals. From there, he’ll devise a roadmap that will get you to where you want to be.