If you knew that there were certain safe holds to secure your financial future and ensure that you could retire with less stress, would you take them? Would you choose a worry-full future or The WorryFree Retirement®?
This week on the David Lukas Show, our host talks about what risks may be involved with your “basic” 401k retirement plan. Because there’s nothing worse than hoping for the best and receiving the worst. One area that can have a significant impact is to be proactive in planning your retirement by ensuring you aren’t taking unnecessary risk, especially if you are invested outside of your risk tolerance . Throughout the hour David mentions and expands upon other risk including:
- The risk of not saving enough
- The risk of skyrocketing health care prices
- The risk of not being diversified in your investments
- The risk of continued low interest rates
- Unnecessary Fees that cripple your savings
- The risk of having no plan for retirement
- The risk of future tax increases.
- How an annuity might be good for you
So what comes of blind 401k planning? A Hope and Prayer Portfolio. What the heck is that, you ask? Well, a H&P Portfolio is an investment portfolio filled with both high fees and high risk investments. Ergo, the holder places all hope that his/her investments are in their best interest and he/she is praying that their portfolio performs well. Reality Check: more times than not, this strategy doesn’t pay off for the investors—it is common for people to take way more risk than they want.
Want to know what David has to say about all of this? Listen to the entire show today.
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