When helping you plan out your retirement funds, the financial advisers at Miramontes Capital make it a point to accommodate your comfort zone in retirement.
A number of years ago, Miramontes Capital had a prospective client, Kate, inquire as to if we were more aggressive or conservative in our financial advice – a question the professionals here at Miramontes Capital are often asked.
Reversing the question, we asked her, “Are you aggressive or conservative?” Kate had never truly invested before, was shrewd about saving, and did not withdraw often from the account. I told her that if she wanted to continue on the retirement path she began long ago, we would present her with a relatively conservative plan.
There is no standard retirement formula that works for each one of our clients. If a financial professional has a preset answer for the question of whether they are aggressive or conservative, walk out of their office. The answer to addressing your comfort zone in retirement must be relative and personal. If you have never invested a dime in your life, even investing in huge corporations is a more aggressive move in comparison to simply keeping your money in your bank account.
With knowledge comes confidence. Thus, retirement is a time where a bit of branching out, both socially and financially, may be a good thing. On the other hand, when we act conservatively with our finances, we take comfort in what we know and understand–what is familiar to us. Your comfort zone in retirement is a personal preference.
It is a question that bears thinking about during the planning process, and at Miramontes Capital, we would recommend not letting an investment professional make the decision for you. If you are trying to figure out whether your financial situation calls for a more conservative or a more aggressive approach, consider questions such as whether or not you will have other income sources during retirement, or whether you are interested in leaving an amount of capital behind to loved ones.
Once you have mulled over your situation for yourself, you will probably be less easily persuaded to accept something that is not right for you when given financial advice. Even more importantly, you will be conscious of choosing a professional who is willing to take a personal approach to your finances, who thinks of you as a person, and who is willing to learn about your unique situation.
For more information on facing your comfort zone in retirement planning, contact Miramontes Capital.
Schedule an in office or over the phone consultation to discuss how Miramontes Capital can help you with your new beginning through retirement planning.
Miramontes Capital is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Miramontes Capital and its representatives are properly licensed or exempt from licensure. This video is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Miramontes Capital unless a client service agreement is in place. Miramontes Capital is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Miramontes Capital and its representatives are properly licensed or exempt from licensure. This video is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Miramontes Capital unless a client service agreement is in place.