Do you put sunscreen on after you get sunburned?
Click on your seatbelt moments before a crash?
Go shopping for a fire extinguisher as an oil fire blazes in your kitchen?
Accidents are sudden. They can come out of nowhere — just like market volatility and downturns.
Sometimes there are predictors. Other times there aren’t.
We are either prepared for them, or we’re not.
The impact they have on our retirement (or our ability to retire) can be minimal (like getting into a fender bender), or devastating (like a roll-over — or worse).
Now, I understand these stories seem a bit dramatic, but they paint a clearer picture of what could happen to your investment health than if I just said,
“You need to have a plan to survive market volatility, so you have the income you need from your investments.”
Whether the markets shift dramatically today, in a few weeks, or in a few years, now is your time to prepare.
It’s why you wear a seatbelt every time you drive, put on sunscreen for a day on the beach, and keep a fire extinguisher in your house, right?
I strongly recommend you take a close look at your investment strategy and portfolio to determine your own comfort level about going head-to-head with volatile markets.
To help, I put together this simple flowchart to help you find out what (if anything) you need to do that may help protect your investment health.
You’ll notice 3 sections inside that will help you assess your current investment situation based on where you are:
- More than 10 years away from retiring
- Less than 5 years away from retiring
- Already in retirement
By answering a few easy questions, you’ll get a crystal-clear picture of what your next steps should be.
Plus, you’ll have a clear feeling of whether or not you’re comfortable and confident with your existing plan.
I recommend you download this now (even if you have to read it later) because this will be the last time I email you a copy.
This quick read could have a huge impact on your investment and retirement livelihood.