Nearing retirement6 of 7Whether or not you've started saving early for retirement, it's crucial at this juncture to determine your retirement readiness."Statistically, the most critical time to meet with an adviser is in your late 40s and early 50s, when the average American is in his or her peak earning years and accumulating the most retirement assets," Paoloni says. "Those assets must be properly managed in order to meet retirement goals, which are typically 12 to 15 years out. A mistake at this stage of one's life will make retirement very unpleasant." Think global financial crisis.A planner can help you eliminate risk in your portfolio and consider investment vehicles such as immediate annuities that offer a guaranteed income for the rest of your life. Some insurance products enable you to participate in the market's upward moves, but avoid its declines, Levine says."A planner can help you determine the best strategy for you. It's not about age; it's about what you want to accomplish," he adds. Related Articles:Find a financial plannerBuild a secure retirementSavings strategiesA college investment planRelated Links:Avoid divorce disasterGuaranteed income for lifeRoth IRA vs. 401(k)How to leave retirement money advertisement
Whether or not you've started saving early for retirement, it's crucial at this juncture to determine your retirement readiness.
"Statistically, the most critical time to meet with an adviser is in your late 40s and early 50s, when the average American is in his or her peak earning years and accumulating the most retirement assets," Paoloni says. "Those assets must be properly managed in order to meet retirement goals, which are typically 12 to 15 years out. A mistake at this stage of one's life will make retirement very unpleasant." Think global financial crisis.
A planner can help you eliminate risk in your portfolio and consider investment vehicles such as immediate annuities that offer a guaranteed income for the rest of your life. Some insurance products enable you to participate in the market's upward moves, but avoid its declines, Levine says.
"A planner can help you determine the best strategy for you. It's not about age; it's about what you want to accomplish," he adds.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.