Just as a distance runner might find it difficult to focus on an entire marathon, investors struggle to stay on a path toward a financially healthy retirement. Preparing for your retirement finances should be viewed as a marathon, rather than a sprint. Unless you win the lottery tomorrow, you are not going to be prepared to retire at the end of the year or even the end of the decade.
Hiring a financial advisor is like selecting the right mechanic for your car. Although the stakes are not the same, you wouldn't trust your vehicle to someone who is going to suggest unnecessary repairs and upgrades just to line their pocket with more money. You should put the same effort into finding the right financial advisor.
The word retirement and all the financial responsibilities it encompasses tend to loom over the lives of many Americans as a daunting thought. As a result, preparation for the future often shifts to the backburner. Retirement should be the best time of your life – something you look forward to, a destination you strive to reach.
There are few things more nerve inducing to investors and the general public than a recession. Economic slowdowns occur from time to time, but a recession marks a sustained dip in economic performance. A recession is rarely good for your investment portfolio, but it does not have to be a bad thing either.
After decades of working the average 9-to-5 job and trying to save for the future, most Americans look forward to a relaxing retirement in which they pursue their beloved hobbies and have a modest income.
Many new retirees find that they are house-rich and cash-poor. Those retirees spent their working years paying off the mortgage, and now that they have stopped working they need a way to turn their investments into a steady stream of cash.
There's no set age at which Americans should start investing. For most people, it's a matter of having the financial stability to cover important obligations such as rent, car payments, and grocery bills, with just enough left over after spending their fun money to set some aside for retirement.
It is not enough these days to put your money into a single retirement account and cross your fingers. Additionally, younger generations should avoid placing too much faith in Social Security. Economic markets today undergo drastic ups and downs over the course of months and years, resulting in setbacks for your retirement funds.
Paul B. Miller, as a Certified Financial Planner (CFP®) and an Investment Advisor Representative (IAR) started Indian River Financial Group, Inc to act as a financial planner for clients from Boca Raton, Florida, as well as the surrounding communities, and to offer you services such as asset management, wealth management, investment planning and risk management.
© 2025 Paul B. Miller, CFP. All rights reserved.
