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Retirement Certainty Scorecard™

 
  DISAGREE AGREE
Indicate the degree to which you agree or disagree with the statements below.
1

I have a clear, written and actionable retirement plan that shows my current financial position (Point A) and my ultimate future (Point B) and sets a path to get from A to B.

2

I review my written retirement plan each and every year and adjust it for changes in my life. I stress test my plan's viability by changing variables for the worst case scenario.

3

I know exactly what my personal required rate of return (PRROR) is that will allow me to achieve all of my retirement goals. I plan my investment strategy around and work toward that PRROR.

4

I have an investment plan which focuses an equal amount of time on making money as it does on not losing it, simultaneously advancing and protecting my assets.

5

I know that I am utilizing independent advice and strategies which specifically fit my individual situation.

6

I review all of my investments each and every year based on how the market and economy are responding and make adjustments and/or rebalances at least annually or as needed.

7

I am confident with all of my insurances knowing that the way they are positioned and funded will protect me and my family for any unforeseen negative events.

8

I am confident that my estate planning documents and beneficiary designations are all set up to maximize the benefits that my family receives.

9

I am well qualified or utilizing professionals that are well qualified to give the best possible advice for my retirement, investment, estate and tax planning.

10

My retirement planning is set up (by me or my advisor) in a way that requires little daily, weekly or monthly attention so that I can enjoy life to its fullest.

As I consider everything that will allow me to live most comfortably during my retirement, the thing that keeps me up at night is:

Thank you for completing the Retirement Certainty Scorecard™.

Please click "Submit & Print Form" to send a copy of this form to Campbell Wealth. After completing Steps 2 and 3, a Campbell Wealth associate will review the results of your Scorecard with you.

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Campbell Wealth Management

Where Did Boomers Learn to Invest?

If you are a boomer, you likely have a brokerage account, IRA and a 401(K). You have chosen the investments based on your knowledge, experience and education. But today I want to focus on that last part, your education.

Where did you learn how to invest? Did you go to stock market school? Mutual Fund training classes? An ETF education program? You likely attended none of these. As a matter of fact, you, like the majority of Baby Boomers have had no formal training on how to invest. Yet you probably have over $100,000 or even $1,000,000 in your portfolio. And many of you are picking these investments completely on your own.

So if you did not have any instructions or take any classes, how did you find out what to do with your money? The answer is a little startling.

You learned how to invest by trial and error. That’s right, the portfolio that is going to take care of you in your retirement, is simply an experiment for you.

Wow, think about that. Let’s say you have $500K in your 401(K). Most of you are simply guessing how to invest it. Pretty scary, huh?!?!

But it’s not your fault. No one gave you the opportunity to learn.

Most people really learned how to invest by choosing the portfolio in their 401(K). Out of the options they had to choose from, most looked at the 10-20 mutual fund names or more likely the fund returns and then chose a few that looked good. As they got older and read a few articles, they probably started to diversify a little more and added a few more funds to their portfolio.

Further, while many of you simply set and forgot it, others began to day trade their retirement account. Unfortunately, the majority of those folks did far worse by actively trading than had they simply left the account alone.

So here is my question. With all of the money you have accumulated, the money that is the engine that will take you through retirement, do you think you should get some help?

Let me bring up a couple of facts:

First, you may have changed your own oil and spark plugs when you were younger but now, you probably take you car to the mechanic when you need it fixed.

Second, you probably used to wait out a cold or sickness rather than go to a doctor right away. But today, you probably go to the doctor more quickly thinking whatever is wrong could be something serious.

And finally, you may have been a do it yourselfer with improvements around your house. You may even have painted the outside at one time. But today, you are much more likely to call a painter understanding the risk to your health if you fell off the ladder.

You can see as you get older, you do get wiser. Now always wiser in being able to do more things, but wiser in knowing what you should and should not do.

That being the case, think about your level of knowledge, experience and education and if you have all that you need to be able to manage you(r) (and your spouses) retirement, than go ahead. If not, get the help you need. This may be one of the most important decisions you ever make.

 

 

 

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