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When planning for retirement, one crucial factor often overlooked is the sequence of returns risk. This term refers to the variability and uncertainty of the order in which investment returns occur and is particularly impactful during the withdrawal phase in retirement. Unlike average returns that blend gains and losses over the years into a smooth figure, sequence of returns emphasizes the timing of these returns, especially when you start withdrawing money from your retirement savings.
By integrating our faith into our financial planning, we can cultivate a sense of purpose and direction that transcends mere monetary goals.
Retirement is a major life change, and it's important to be prepared for it. There are a number of factors to consider when transitioning into retirement, including your financial situation, your health, your lifestyle, your social connections, and your emotional well-being. It is important to work with an independent financial professional who can help you get organized, discuss your needs and assess your financial readiness to move into retirement.
The time value of money is a fundamental concept in finance that refers to the idea that money today is worth more than the same amount of money in the future. This is because money today can be invested and earn interest, while money in the future is subject to inflation and loses value over time. When it comes to long-term savings, understanding the time value of money is crucial. Here are five points to keep in mind:
Check the background of your financial professional on FINRA’s BrokerCheck.
Encompass Advisory Services, LLC. is a Registered Investment Adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor and/or tax professional before implementing any strategy discussed herein.
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