Retirement Rules of the Road
August 19, 2011
- Know your visions, goals and dreams
- Think with a lifetime time horizon
- Commit to a healthy lifestyle
- Keep a monthly spending plan and remove any unnecessary expenses
- Plan to purchase big ticket household and family items before retiring
- Strive for an Emergency Fund equal to two years of your monthly expenses
- Be debt free
- Stay invested in a growth oriented, diversified investment portfolio
- Do not try to time the markets
- Implement a responsible withdrawal plan for consistent income from retirement accounts
- Reduce portfolio withdrawals during periods of economic stress
- Minimize investment expenses without losing value in critical areas such as professional counsel and portfolio management
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