According to the Federal Reserve, the median 55- to 64-year-old household has a net worth (including home equity and retirement savings) of just $187,000.

Things to consider

Concerns such as investment risk and market volatility take on increased importance as you draw closer to retirement age. Balancing growth with assets you already have becomes paramount.

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Don’t get overly conservative

The old idea of moving from stocks into bonds as retirement nears worked fine when most retirements only lasted a decade – not necessarily anymore.

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Rebalance your portfolio

After a decade-long bull market, your 60/40 target mix of stocks and bonds might now look more like an 80/20 allocation. Is it time to rebalance?

Paper and a cog

Repurpose mortgage payments

Close to paying off your mortgage? Consider redirecting that monthly payment into your investment account for added growth.

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Use catch-up contributions

If you’re age 50 or older, you can make an extra catch-up contribution to your 401(k) and IRA each year. (Source: IRS.gov)

What to ask your Janney Financial Advisor

  • How can I start to protect my savings without giving up too much growth potential?
  • Do I need to change my investment approach to make my money last a lifetime?
  • Are there any recommendations that will help to lessen the impact of market volatility?
  • How do I go about building a portfolio that reflects my personal values and beliefs?

Talk with a Janney Financial Advisor

You don’t need to go it alone. Wherever you are on your wealth journey, we can build a tailored financial plan and make recommendations that are aligned with your best interest and unique needs, goals, and preferences. Contact us today to discuss how we can put a plan in place designed to help you reach your financial goals.

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