5 To Dos Before You Retire

Wednesday, January 25, 2017 |

Looking to retire?  Here are 5 suggested checklist items before cashing your last paycheck and/or selling your business:

  1. Run a financial blueprint that books your cash flow and balance sheet to assess the probability of meeting your long-term financial goals.  The first thing we do when engaging a client is put that together through our own proprietary CFM Horizon® so the client can see based on their inflows, outflows, asset base, and a very conservative rate of return, how their finances are trending.  This model helps give us and the client a comfort level with their retirement.
  2. After the initial assessment, find ways to attack and solve for vulnerabilities to your financial plan.  For example, are your expenses too high?  Own too much real estate?
  3. Make sure you have something to do and to occupy your time.  If you don’t have a passion or hobby, now would be a good time to start.  Additionally, you may be able to parlay that into a part-time job to supplement income (e.g. if you like to fish and gets a job instructing) or do board work or consulting.
  4. Diversify* your holdings and focus on the long-term.  Those two items may be about as close to a free lunch as you can get in the investing world.  Constantly making moves in your portfolio, putting all your eggs in one basket, or making an emotional decision based on market moves may adversely impact your portfolio and subsequent long-term financial goals.
  5. Once the above is in place, stay disciplined!  Whether it comes to expenses, portfolio rules, or anything else, set guidelines that increase the probability of reaching your financial goals and stick to them.


*Diversification does not guarantee a profit, or protect against a loss.

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