Below is a great check list for retirement planning that came my way courtesy of TIME magazine worth sharing as we take a second (or third) look at our retirement portfolio and wonder if it is on the right track to meet our retirement dreams.
Retirement Planning
They all have numerous components worth serious consideration.
When it comes to investing, “it isn’t enough to simply tend to your 401(k) and pray for Social Security.” Make sure you challenge your current investment portfolio. Should you really be invested in high cost mutual funds, or can you accomplish similar returns and diversification with comparable risk at a lower cost with index funds or exchange traded funds (ETFs)? Challenge your current asset allocation and make sure it really mirrors your financial needs and desires for retirement as well as your tolerance for risk. Question whether you are getting good value from your investment adviser for the cost you are outlaying. Know that there are tools out there to guide and help you do-it-yourself at a much lower cost.
“Your retirement plan probably looks different than it did a few years ago. Yet things aren’t as awful as you might imagine. We’ve turned the corner on some key financial fronts, and it’s both safe and smart to start thinking about your golden years again.”
