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Tips to Help Maintain Your Current Lifestyle During Retirement With Bonds, ETFs and/ or Annuities

February 09, 2012 | Comments: 0 | Views: 156

Retirees are living with several fears that need to be addressed now to alleviate their financial anxiety in the future. For example, many retirees have a fear of running out of money. They fear being dependent on their children and do not want to rely on their offspring's to provide for their health and life expenses as an elderly person. The cost of health conditions for many seniors can be very high. In fact, nationally, the average annual cost for a private room in a nursing home is $70,445, with a maximum daily rate of $826! Many of us would rather have the comfort of staying at home and hiring a home health aide. Are you aware that on average, the hourly cost for in-home care could be $160, over $58,000 per year? Around the clock aide could cost one $9,500 per month! That's $114,000 per year! Have you considered this and are you prepared to pay this when the time comes?

There are several ways you can alleviate this financial anxiety by reviewing and updating your financial goals and creating an income or cash flow plan that could allow for the possibility of receiving consistent cash flow. Successful investors will Always have a plan. How can you preserve your quality of life and sustain an adequate net worth so you know that you are secure financially? What are your financial goals?

Preserving quality of life? Saving for future health care? Steak or chicken noodle soup? Each individual has their own financial goals and those goals change from time to time. It is very difficult to regain losses when the markets are languishing. For investors, preservation of principal needs to be an element of your overall investment philosophy, among other elements to consider. Without sufficient capital investors will not be able to take advantage of future opportunities. If you fail to protect your capital, there will be no growth - and you will be left to speculate with your family's future.

10 years prior to retirement is the "retirement red zone." Any losses during this time can be detrimental to your retirement. With so little time left, can you afford to make mistakes during that red zone period? You need to find a partner in your financial advisor. One who has the ability to create a unique solution for your plan.

Investment products can be very complex. You need an advisor who can easily and clearly educate - clarity is key! When you understand your options, you can make the best choices to grow your savings. Any one investment vehicle may not be the answer to all your financial goals. That's why diversification still makes sense. Admittedly, investors will be wise to protect that which they cannot afford to lose.

You can only benefit from our many years of varied financial experience managing money specializing in protecting capital and limiting volatility. Now, stop and ask yourself, how well does that match what's currently going on in your portfolio today? What have you done about it? How effective has that been? What is your next step?

Source: EzineArticles
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