Actually, there are a lot of answers for this question. Basically, what it comes down to is the financial, economic, tax and investment world has changed a lot over the last several years, and continues to change. Technology continues to advance, markets are global and financial products continue to evolve. Yes, there still are some historic principles that need to be followed, but these new times require much more education, and better strategies.
It seems like we are now officially in a YOYO economy - which stands for You’re On Your Own. Gone are the days of being able to rely on the government and an employer to take care of you. Very few companies offer traditional pension plans anymore, and many government entitlement programs are severely underfunded which will have to be treated somehow. Social Security already made some recent changes recently by taking away some claiming strategies. With less government help and less employer help, that means more responsibility is on you for a successful retirement. And with longevity increasing, you very well could live a very long time in retirement, which puts more pressure on your assets and incomes to last a long time.
In addition to all of this, we are dealing with an unpredictable stock market that is near all-time highs; historic low interest rates; tax law changes and possible tax increases in the future. Thus, people need help in dealing with all of this and managing their wealth, protecting their assets, reducing their taxes, having a plan for long term care, and setting up an income plan so they will not run out of money. In my opinion I don’t know if there was ever a more crucial time for most people to have professional help and guidance in these areas from a qualified and experienced retirement planning specialist in creating and maintaining a comprehensive plan to maximize, protect and in many cases, save their retirement lifestyle.
If you desire more information or need assistance, feel free to reach out to me by calling the office at 702-462-7233 or via email at Agoodman@AskAdamGoodman.com.
Investment Advisory Services offered through Brookstone Capital Management LLC, a Registered Investment Advisor. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives. This information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Content is provided by third parties for informational purposes only and is not a solicitation to buy or sell any products mentioned.