Investing for Your Later Years? Think Asset Preservation but Don't Forget Growth

Investing for Your Later Years? Think Asset Preservation but Don't Forget Growth

August 20, 2020

After years of investing for retirement and other goals, you may have accumulated a substantial portfolio. If you're approaching or already enjoying retirement, there are important steps that you can take to help ensure that your investment plan -- and your nest egg -- is on track for your Golden Years.

Reassess your income needs and portfolio -- A few years before a planned retirement, it's important to know where your money will come from and how much you'll need. It's number crunching time. Figure out how much income you will receive from Social Security, a pension plan and personal savings and investments. Weigh your anticipated income against your estimated living expenses; be sure to pad your estimate to account for unexpected events or market drops. Do the two match up? If not, review your portfolio with a qualified financial professional.

Hedge against inflation -- Your investment focus will probably shift from growth to income in your later years. Naturally, you want to help protect your nest egg from market volatility. But that doesn't mean moving your portfolio's entire stock allocation into less risky holdings -- like bonds and cash. People are living longer, increasing the risk that some will outlive their money. You may want to gradually shift some stock investments into more liquid, income-oriented investments. However, it may be important to keep part of your portfolio in growth-oriented investments -- stocks and stock funds -- to give your portfolio the potential to outpace inflation.

Protect what you've achieved -- A solid financial plan also includes estate planning to help preserve assets for your heirs. "I'm all set," you say. "I've drawn up a will." A comprehensive and effective estate plan often involves a variety of tools in addition to wills, including trusts and different types of insurance. Talk with an attorney about your specific needs.

After a lifetime of investing, make sure that your financial plan is on target in your later years. Annual reviews of your portfolio with a qualified financial professional can help you pursue your objectives and spot potential problems before they occur.

Important Disclosure Information

The comments above refer generally to financial markets and not Bazis Young portfolios or any related performance. The content of this article should not be considered financial advice. The article is not intended to  offer specific investment recommendations and  is general in nature and should not be considered a comprehensive review or analysis of the topics discussed. This article is not a substitute for a consultation with an investment adviser in a one-on-one context whereby all the facts of the attendee’s situation can be considered in its entirety and the investment adviser can provide individualized investment advice or a customized financial plan. Opinions expressed are current as of the date shown and are subject to change. Past performance is not indicative of future results and diversification does not ensure a profit or protect against loss.  All investments carry some level of risk including loss of principal. Information or data shown or used in this material was received from sources believed to be reliable, but accuracy is not guaranteed. This information does not provide recipients with information or advice that is sufficient on which to base an investment decision. This information does not consider the specific investment objectives, financial situation or need of any particular investor and may not be suitable for all types of investors. Recipients should consider the content of this information as a single factor in making an investment decision. Additional fundamental and other analyses would be required to make an investment decision about any individual security identified in this report.

Bāzis Young Investment Group, LLC is a registered investment adviser with the Securities and Exchange Commission.  Registration as an investment adviser does not imply any level of skill or expertise. Any discussion of specific securities is provided for information purpose only and should not be deemed as investment advice or a recommendation to buy or sell any individual security mentions or to allocate assets in any manner discussed.

Required Attribution

Because of the possibility of human or mechanical error by DST Systems, Inc. or its sources, neither DST Systems, Inc. nor its sources guarantees the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. In no event shall DST Systems, Inc. be liable for any indirect, special or consequential damages in connection with subscriber's or others' use of the content.

© 2018 DST Systems, Inc. Reproduction in whole or in part prohibited, except by permission. All rights reserved. Not responsible for any errors or omissions.

Tracking No: 1-771388