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Are You Ready To Retire? …Getting your 401(K) in order is an important step

Looking out over your future – is retirement 10 years, or less, away? There are many things to consider before you can pull the trigger on setting a retirement date. What do you need to maintain your lifestyle after you disengage your alarm clock?

One of the main reasons Sound Financial Strategies Group exists is to educate the public on their retirement options. This is a huge decision and you shouldn’t navigate the passage between work and retirement alone.

We offer an individualized approach to planning for retirement. But there are a few things that are universal, like making sure your 401(K) is in order. Here are six things to consider when your are reviewing your 401(K):

  1. Review Your Investment Mix – Your investment mix, that is the percentage that is in stocks verses bonds, should change over time. As you approach retirement, many investors adjust their portfolios to decrease exposure to the stock market.
  2. Bond Rate Sensitivity Check – Not all bonds are created equally, and outside forces can make certain bonds a risky investment. Long-term bonds could be less than desirable if interest rates rise.
  3. Variety – Different types of stocks react differently to pressures; a variety of stocks and bonds is designed to hedge against drastic shifts in the market
  4. Complementary Accounts – Do you have an old 401(K) from a previous employer? Or an IRA? All of your accounts need to be positioned to complement each other, all with the goal of retirement income in mind.
  5. Get Professional Advice – The financial landscape is continually shifting, new laws come in to play with very little publicity, and if you are close to retirement there is a smaller window for adjustments. All of these reasons, and more, are why recommend a professional review of your retirement income plans and options. Call SFSG, at 877-462-3744 and make an appointment, we can help you navigate your retirement.

Neither diversification nor rebalancing can ensure a profit or protect against a loss. Bonds are subject to interest rate, market, inflation and credit risks.

Investment Advisory Services offered through Sound Financial Strategies Group, Inc. (“SFSG”), a Registered Investment Adviser. Certain representatives of SFSG are also Registered Representatives offering securities through APW Capital, Inc., Member FINRA/SIPC, 100 Enterprise Drive, Suite 504, Rockaway, NJ 07866 (800)637-3211. SFSG and APW Capital are separate and unrelated companies. 

The opinions voiced in this article are for general information only. They are not intended to provide specific advice or recommendations for any individual and do not constitute an endorsement by APW Capital..

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