Remember the famous TV game show host who looked to his contestants and said….”Survey says…?”
Well, in a recent survey of millionaires from all over the world, they were asked to name their biggest financial regret. Guess what their #1 answer was from below?
A) Not paying close enough attention to asset performance
B) Took too much risk
C) Too much debt
D) Missed out on a blockbuster IPO
E) Not having a financial plan earlier in life
Their #1 answer will surprise you . . . It is E. Almost 60% of people with investable assets of more than $1 million say they regret not starting a personal financial plan earlier in life. That was more than 3x the second biggest regret (A) which was picked by 18% of the respondents.
According to Nigel Green, founder of the deVere Group, who conducted the survey, “The poll shows that the No. 1 regret of high-net-worth individuals was not putting in place a robust plan for their personal finances which could be efficiently and regularly reviewed.”
We strive to solve this problem every day at Advanced Wealth Preservation, Inc. We help successful clients reach their financial goals using different products and strategies. But the one thing we work together on is making sure they all have a plan that’s monitored and reviewed regularly to make sure they reach their goals.
Some people are better planners than others. But if you have investible assets in the millions, you need a plan…and an advanced one at that. “Waiting for interest rates to rise” and “I hope the market continues its rally may not be the best plan. We like to remind clients…”Hope” is not a plan.
If you find yourself describing your current plan using the words “hope” and waiting”, give us a call or email us to learn how you can eliminate those words from your plan. Only you can control whether you pick answer (E) on the questionnaire above. Your future is now.
It’s that time of year again where Forbes just released their annual “25 Best Places to Retire.” Here are their 25 top picks for 2014:
1. Abilene , TX
2. Auburn, AL
3. Austin, TX
4. Bellingham, WA
5. Blacksburg, VA
6. Bluffton, SC
7. Boise Idaho
8. Bowling Green, KY
9. Brevard, NC
10. Cape Coral, FL
11. Charleston, SC
12. Clemson, SC
13. Fargo, ND
14. Fredericksburg, TX
15. Las Cruses, NM
16. Morgantown, WV
17. Ogden, UT
18. Oklahoma City, UT
19. Pittsburg, PA
20. Port Saint Lucie, FL
21. Salt Lake City, UT
22. San Angelo, TX
23. State College, PA
24. Tucson, AZ
25. Venice, FL
Forbes editors used various formulae and criteria to inform their selections, including cost of living, tax rates, median home prices, availability of doctors, and crime rate.
Once again a number of college towns made the list. In addition to Auburn, AL, there’s Austin, TX, Blacksburg, VA, Boise, ID, Bowling Green, KY and Clemson, SC to name a few.
If your retirement city is on this list or not, it’s important to make sure your retirement plan is on course to help you live the lifestyle you want in your preferred retirement town.
Call or email us today to learn how we can help you achieve the retirement lifestyle you want in your desired retirement town. There are lots of great places on this list….and many more to choose from.
GA, Austin, Baton Rouge, College Station, TX, Columbia, MO, Gainesville, FL, Lexington, KY, Winston-Salem, and one or two others. I don’t know about you, but I haven’t yet decided where I want to retire. I have, however, decided how I want to retire — comfortably… with no money worries… free to come and go as I please… healthy and able to help my kids and grandkids, and maybe a charity or two. Getting there requires a diversified portfolio that reduces risk and provides lifetime income. When I say “diversified” it’s not what most men and women commonly think.
Some investors believe a diversified portfolio means having a mix of stocks and bonds and commodities and real estate. Others see it as having mutual funds across various industries, sectors and investment styles. That’s not my idea of diversification. To me, diversification is about protecting your retirement savings from dangerous risks. When you think about your future, what are the biggest threats to your retirement lifestyle? The Big 4 are: inflation… taxes… market losses… and health care costs. These are the booby traps that can ruin our dreams of a comfortable retirement. When we diversify and insure our nest egg against these threats, we can live anywhere we want to — even Fargo.