The Coming Retirement Boom
Each day, at least 8,000 baby boomers will turn 65 for at least the next fifteen years. 10,000 individuals retire every day according to The Washington Post. How should these retirees be invested for a successful retirement? The first and often most overlooked step, is to have a written investment plan highlighting all investment objectives and constraints. As the old saying goes, If you fail to plan, you are planning to fail. Second, Investors cannot control the market returns but they can control how they approach investing. Just like a doctor who uses evidence-based medical techniques to diagnose your ailments, investing should be based off the peer-reviewed academic research. To name a few, retirees should look to low-cost passive investments, avoid commission-based products that create a conflict of interest, and invest in a tax-conscious effort. Read more.