Creating a More Secure Retirement

Diversify to Win

If you’re already contributing to a 401(k) or IRA, you’re off to a great start, but if you’ve been limiting yourself solely to the stock market, you might want to consider expanding your portfolio. Investing in stocks is good, but real security requires diversification, and real diversification requires a portfolio made up of many different asset classes.

Contemplating diversification at a deep level requires thinking about how your assets will react in relation to one another and to the broad spectrum of current events.

Your goal is to own a variety of assets, so that even if one asset class you’ve invested in is declining, another will be rising, and you’ll be able to act appropriately to protect your retirement nest egg.

Take Your Health Into Consideration

Health care expenses usually increase as we age, and even with Medicare, the costs can be devastating. The average individual should anticipate paying out-of-pocket in order to cover medical costs. A Health Savings Account provides tax-advantaged savings that roll over annually, unlike a flexible spending account. Thinking of your long-term health requirements in terms of the financial elements will keep you prepared for possible future medical expenses.