Page 21 - BusinessWest September 1, 2021

Retire
Continued from page 20
retirement objectives will not hap- pen automatically. The earlier you start planning, the better off your chances are of enjoying a happy, fulfilling, and long retirement. Here are a few steps to consider for a successful retirement:
ties. (Withdrawals may be subject to regular income tax and, if made prior to age 591⁄2, may be subject to a 10% IRS penalty. In addition, sur- render charges may apply.)
4. If necessary, consider chang- es. If, after steps 1-3, you are fall-
Expertise
Continued from page 21
ing, inevitably, that “hot stock” that had appreciated 78% is down 50% before the market even opens because the drug the company produced killed people in the
company’s business on Yahoo! Finance is smart. Reputable sources with solid information. But these are part-time tasks, which don’t carry significant con-
“The earlier you start planning, the better off your chances are of enjoying a happy, fulfilling, and long retirement. Here are a few steps to consider for a successful retirement.”
“There is nothing inherently wrong with the do-it-yourself trend. However, the intersection of social media, and the assault of information from a variety of sources (some questionable), has empowered many to shun traditional expertise that has been built upon years of study.”
1. Determine your cost of retire- ment. This includes your monthly living expenses, your age to retire, and your life expectancy.
2. Apply your income sources. Review what you will have avail- able to you, such as Social Secu- rity, pensions, immediate annuity payments.
3. Withdraw from your portfolio assets. Take withdrawals against your portfolio assets to make up any difference needed. These assets may include brokerage accounts, money-market accounts, 401(k)s, 403(b)s, IRAs, and annui-
ing short on your plan, consider changes such as saving more, redefining your retirement age, or considering part-time employment during retirement.
5. Consider a professional. This can help you clarify your goals and objectives in retirement. u
Jean M Deliso, CFP is a financial adviser offering investment- advisory services through Eagle Strategies LLC, a registered investment adviser.
FDA trial, or the company missed earn- ings by a wide margin, or the CEO was a fraud. Much of which could’ve been fleshed out by skilled analysis and a dis- ciplined approach to investing to avoid such scenarios.
There is nothing inherently wrong with the do-it-yourself trend. However, the intersection of social media, and
the assault of information from a vari- ety of sources (some questionable), has empowered many to shun traditional expertise that has been built upon years of study. Logging on to WebMD to diag- nose your poison ivy or watching a YouTube video on installing a garbage disposal, or even learning about a public
sequences if done incorrectly. They are suited for the curious individual with a penchant to learn.
But for more complex matters, requiring a longer success horizon — say preserving your retirement funds to support your lifestyle once your earning years are over — it is best to leave that to a full time, educated, disciplined profes- sional. They’re called experts. u
Jeff Liguori is the co-founder and chief Investment officer of Napatree Capital, an investment boutique with offices in Longmeadow as well as Providence and Westerly, R.I.; (401) 437-4730.
Busy, Productive, and Working
from Home?
Let us take one more thing off your plate
Employers are switching to remote and hybrid workforces, which means more time at home.
It’s even more important to have a healthy and safe living space that’s PEST-FREE.
413-566-8222 GraduatePestSolutions.com
SOOTHE INVESTMENT ANXIETY
WEALTH MANAGEMENT
SEPTEMBER 1, 2021 21
BusinessWest