Jumpline magazine April 2024 - Flipbook - Page 20
20
Financial Alternatives
As we approach retirement, we begin to think
about how to navigate those
upcoming years, not only
emotionally, but 昀椀nancially.
The choices we make can be quite
important to help us through those
years. Having said that, I want to address relevant issues for current as
well as future retirees and the choices that you may have.
So, let’s start from the beginning. In your working years
you had the ability to accumulate retirement savings, either
through your FRS/Investment plan AND your 457 platforms
such as Nationwide and Mission Retirement. These platforms enable us to be able to invest over the course of our
working years to, hopefully, accumulate a substantial sum for
retirement. Depending on your choices (i.e., Pension or Investment plan) and your investments (457), you’ve created
that nest egg. Besides choosing how to get to that point (we
can go into detail on that subject another time), this nest egg
(DROP and 457 funds) and how you build it, is what I want
to focus on. For the most part you have 3 ways to invest this
money:
Mark Buckley, Ret.
•
Choose the investments yourself.
•
Have someone invest the money for you
for a management fee or
•
Commit to a minimal amount of investment years and have your money protected to the downside as much as 100%
while paying no fees.
If you have a minimum of 6 years to invest your money
without accessing most of it, Choice #3 can be quite a viable
option. Let’s face it, most of us already have the monthly pension payment available so we just need a way to protect this
nest egg, WHILE growing it. There are some other options
within Choice #3 that can be attractive as well. By the way,
for those who were in the investment plan and have that sum
to invest, there are even more ways to protect it over time.
It’s important to point out that it all depends on your risk factor
and how you want to invest this money. Some like to take a
greater risk and therefore can add more to the upside.
After all is said and done, it’s about what you have to decide and the risks you want to take. I will always advise you to
discuss your risk potential and explore the options available.
If you have any questions about your retirement savings and
how to invest them going forward, please reach out to me at
any time.
Stay Safe!
8TH ANNUAL
ANNUAL
8TH
1.
POKER
POKER TOURNAMENT
TOURNAMENT
FRIDAY | OCT. 18, 2024
A-SHIFT
A-SHIFT
April 2024 | JUMPLINE Magazine