The slowing economic growth, rising interest rates, and surging inflation, combined with pandemic and war constraints, are pushing financial markets into a frenzy, and raising concerns among the cohort of retirees and near-retirees. US inflation has hit 40-year highs, and the implication paints a bleak picture for retiring investors. Dan Foran, President of Foran Financial Group, a full-services financial firm, shares his insights on the matter.
According to Dan Foran a Certified Financial Planner® and a respected industry leader who specializes in retirement planning and income distribution, it is still possible to retire even when current market conditions are less than ideal. “The inflation problem won’t be solved quickly, but retirement is possible during this challenging economic time if you are strategic with your planning.”
“A solid financial plan accounts for situations when things do not exactly go as you had anticipated, such as when a bear market occurs or recession hits. Those on the cusp of retiring or already retired should revisit their plans to determine if their investments and asset allocation still makes sense. For some, this means making moves in their portfolio, and bolstering their liquid reserves.”
Primarily, retirees should map their assets and reevaluate their spending, then determine if their current strategy can support the lifestyle they want. There may be opportunities for action, adjustments, and additional financial confidence, helping retirees stay on track with their retirement objectives.
Foran says the cookie-cutter retirement planning approach is not optimal as everyone has unique goals, needs, and challenges. It is critical to understand the options available and avoid one-size-fits-all financial advice.
For almost four decades, Foran Financial Group has strived to help individuals and their families build a more confident financial future through all economic and market climates using a tailored, comprehensive roadmap built on evidence-based strategies and personal targets. The team puts client needs at the forefront, working towards aligning their plan with their vision for the future. They use time-tested processes that strive to focus on wealth preservation and conservative growth in an attempt to mitigate any potential outsize losses.
Foran Financial Group also goes beyond the financial aspect of retirement. They plan for health, hobbies, and activities that make retirement the golden years they were meant to be.
To help retirees transition smoothly into the next chapter of their lives, Foran Financial Group offers a complimentary eBook, 5 Easy Steps to a More Secure Retirement.
Schedule a complimentary Retirement Checkup with Foran Financial Group today: https://www.foranfinancialgroup.com/.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.
Media Contact
Company Name: Foran Financial Group
Contact Person: Daniel T. Foran, CFP, CFS
Email: Send Email
Phone: 1-732-752-9191
Country: United States
Website: https://www.foranfinancialgroup.com/