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Retirement Planning > Retirement Investing

3 retirement essentials every baby boomer 
should follow

By Daniel Williams

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Carl Edwards, MBA, ChFC, and owner of C.E. Wealth Group, is something of an expert on baby boomers and figuring out what they need to have a happy and successful retirement. 

In his research, gained from working with the boomer generation and helping them plan for those golden years, Edwards has identified three retirement essentials every baby boomer should follow. Advisors can utilize this information as they make appointments with boomers in early 2015.

financial check up•  Get your annual financial check-up. 

How can we possibly forget to do this? Annual check-ups are the number one preventative care tool at our disposal.  While many individuals should be meeting more regularly with their financial advisor, everyone should have at least the minimum of an annual visit. Problems creep up and this is often the best way to catch them before it is too late.

diversify •  Don’t forget to diversify. 

Are you working with a broker who always wants to sell you mutual funds full of stocks and bonds? Does your annuity guy think every dime you have should be stuffed into insurance products? The reality is they are probably both wrong. Find an advisor this year who knows the benefits of each of these products, but who also knows the value of how they work together. Diversification is important and it may include each of these products along with other assets such as individual stocks and bonds, Certificates of Deposit (structured and fixed), Business Development Companies, Real Estate Investment Trusts, precious metals, and numerous other investments.

still afloat•  Rebalance, Rebalance, Rebalance. 

With the great equity run up we have encountered since the lows of March 2009, it is vital to remember that we must continue to evaluate our investment portfolios. While equity portfolios have risen significantly since that time, other areas of our portfolio may not have fared so well, leaving our risk levels in need of adjustment. It is often a good idea to capture some of those hard-earned gains. You never know — the next major pullback could be just around the corner. Be prudent, not greedy!

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