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In my last post I made a few references to retirement planning. I’d like to briefly outline the process and talk about why a large percentage of Americans nearing retirement age are completely unprepared.

In preparation for retirement there are three phases people go through:

1. accumulation of assets
2. consolidation of assets and
3. distribution of those assets.

• Phase 1-The accumulation of assets generally occurs during one’s working years, when ‘you’re strong as bull’ between the ages of 30 and 55.
• Phase 2- The consolidation of assets logically occurs between age 55 and whenever the distribution of assets will occur. You’ve worked hard to accumulate your monies and as you get closer to retirement you want to protect your investments and switching to a more conservative approach is in order.
• Phase 3- The distribution of assets often coincides with full retirement where you no longer have the stream of income from your job. It’s time to start replacing that stream of income from your savings… supplemented by you collecting social security, a pension, etc.

Continue Reading “Here’s the rub”