Friday, August 23, 2013

3 Strategic Investment Planning Tips for Seniors

Investment planning is important throughout live but even more so if you are a senior. Your investments will become important to you as you move through retirement. The biggest problem that could occur is running out of money. Taking these three strategic investment planning tips will help you along the way, offering you money and markets stock advice and steering you away from mistakes and onto the path of investment success.

1) Do not invest too conservatively

While some planning is contingent upon your current health and estimation of how long you will live, financial planners who specialize in money & markets stock advice tell seniors to plan to live at least 90 years. If you retire at 65, that is 25 years of retirement! Investing moderately when you are retired is the best way to guarantee your investments will perform at or better than the inflation rate, something a lot of seniors do not take into account. You should take a look at your investments, reevaluating your strategy on a regular basis and planning in 5 year increments.

The markets change, but the value in your investments should be as averse to downward pressure as possible while responding well to stock market gains. Obviously, it can be scary to invest in such a volatile market, but investing too conservatively can lose you a lot of gains.

2) Never change your course suddenly

With the plethora of investment news channels, websites, and guides available today, it may be tempting to change course immediately and often, especially if you fall prey to the immediateness of the tone in their voices. However, there is not one financial event that should make you pull all of your investments out.

During the Great Recession, seniors left and right pulled their investments out of the market, and most of these people regretted it later. The market is almost guaranteed to recover eventually. Any large financial changes should be given months of thoughtful consideration. Never let your fear control your decisions on a whim!

3) Be cautious

There are many sales people who offer "advice" and get-rich-quick schemes to seniors. These people are generally trying to make a quick buck from you, and they will provide you little in terms of financial security. High-pressure salespeople should be avoided at all costs. Get money and market stocks advice from someone with whom you have a long relationship with and a lot of trust.


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