Understandably, many investors may feel frustrated by a feeling they can do little to cushion their portfolios from the fallout from, say, Europe's sovereign debt problems and the political debate over the ceiling on US debt.
And many individuals on the eve of retirement would feel frustrated that it may seem too late to save more to improve their standard of living in retirement.
There are however some simple steps that retirees can take to potentially improve their financial positions as you do have more control over your future than you think.
It's all too easy for investors to focus on the threats they can't control. But investors, including retirees, can control certain things, including careful budgeting, debt reduction and efficient management of taxation.
Informed investors would add such things to this list as ensuring an investment portfolio is adequately diversified, gaining quality financial planning advice when required, and keeping investment costs to a minimum.
Another factor clearly under an investor's control is a decision to take a disciplined approach to the regular rebalancing of a portfolio back to its appropriate long-term, target asset allocation.
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