I can’t believe how many retirees still believe that they can make their money last in retirement by following the same conventional financial advice that may have worked in the past but may no longer be relevant to today.

If there’s one thing that really frustrates me in the financial planning industry, it is old adages-such as…

• ·  You’ll spend less in retirement so your taxes will be less -Or
• ·  Buy and hold, you’re in this for the long haul, it’s only paper loss-Or
• ·  Focusing mainly on investment performance with little concern for risk.

So many retirees tell me they’re trying to follow this conventional financial advice to make their money last but they still fear running out of money.
I’m going to ruffle a few feathers here, but it’s got to be said. Traditional retirement advice may not apply to today’s circumstances in regards to making your income last throughout retirement.
Some investors may think that traditional buy & hold strategies are the best way to make your money last in retirement, but it’s simply not true. Our clients build a consistent & sustainable income retirement plan based on their specific situation.
The retirees we work with have a plan to manage the risk of stock market drops and tax increases.