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5 Retirement Planning Blunders

Published: Friday, Dec. 21 2012 12:00 a.m. MST

Smedley Financial Services

Let’s be honest, you wouldn’t build a house without a blueprint nor would you look for a surgeon who didn’t finish medical school. Why leave your future to chance? Simple rules of a thumb are good for many things but should be avoided when planning for retirement. Take time to think about your retirement goals. Every year of your retirement income needs should be addressed. Break the years into segments or periods. Detailed planning allows you to assign a risk and expected reward for each segment. Assets that you will need in the first years of retirement should have less risk. The risk can be increased by segment assigning the highest risk to the assets that will be used later or may be passed to the next generation. Making these determinations in the beginning gives you a map to follow and can be used as a benchmark to make sure you’re on track to reach your goals.

Designing the plan is just the beginning. You must review the plan often to address changes in your circumstances and make adjustments to help keep things on track. As with any important matter, it’s essential to seek professional advice. Engaging the services of a professional will help you address and avoid major mistakes.

Smedley Financial Services specializes in helping individuals, couples, and business owners cross the bridge to retirement. Let us help you prepare for a successful retirement. Call us for a free analysis or second opinion of your specific situation (800) 748-4788 or visit us online at www.SmedleyFinancial.com

*U.S. Department of Health and Human Services National Clearinghouse for Long Term Care information. Research by Genworth. Smedley Financial Services, Inc.® is an SEC Registered Investment Advisory Firm. Sharla J. Jessop is an Advisor Representative of Smedley Financial Services, Inc.® and Registered Representative of Securities America, Inc. Securities offered through Securities America, Inc. Member FINRA/SIPC. Smedley Financial Services, Inc.® and Securities America, Inc. are separate entities. Copyright 2012 Smedley Financial Services, Inc.® All rights reserved.