Archive for January, 2017

“RETIREMENT: PLAN AHEAD”

January 13, 2017

Retirement and/or remaining retired doesn’t just happen.  The people looking ahead to  retirement have a major challenge on their hands.   Not only do they have to convince all those affected, but they have to plan the  whole process.

For many years the  following acronym has helped people to think through their plans whenever a major challenge or  opportunity approaches:

  • P – Predetermine your course of action.
  • L – Lay out  your  goals.
  • A – Adjust your priorities.
  • N – Notify all concerned.
  • A – Allow time for acceptance. 
  • H – Head into action.
  • E – Expect problems.
  • A – Always point to your  successes.
  • D – Daily review your progress.

As an investor, one of your main goals is, of course, building a nest egg for your future.  This will involve not only making difficult decisions at times, but  also learning a bit about  investing itself so that you can make those decisions wisely.

You, as an investor, must develop your philosophy as an investor and act consistently as a investor and not as a speculator.  The goal of speculating is to  achieve a large gain in  a short amount of  time.  Speculation involves a large risk in nearly all circumstances because, as we always say, if  something seems too good to be true, it probably is.  That’s not to say that speculating can’t pay off; it can, but the trade-off for potential large, quick gains is usually a considerable risk of loss.

By contract, investors commit to a long-term strategy based on sound investment principles.  An investor also seeks to gain  money, of  course!  But the focus is on the long view, not the short-term, fast gains.

Future retirees and those who are already retired need to put in place a team that will work to achieve the goals desired.  This team should include the individual as well as a financial advisor, a CPA, and an attorney.  This will accomplish the planning ahead that is necessary and also aid in the continuing monitoring  of the process of  reaching retirement.

Burrows Financial works every day in planning and monitoring retirement plans for individuals who want a plan that works.  We strive to eliminate the risks to ascertain that the retirement goals are achieved.  If you don’t have a team in place, I can be of assistance in forming a team for you.  It is never too late or too early to ease yourself of the worries and concerns by setting goals for your retirement.

It is time to take charge and visit my website and complete the contact form information  and  I will be in contact with you immediately:

http://burrowsfinancial.thebetterretirementplan.com

My website contains news updates, articles, and blogs about retirement.

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Exodus:  5:1

No question about it, Moses had a major challenge on his hands.  Not only did he have to convince everyone…including Pharaoh…to let him lead the Hebrew slaves out of Egypt, but he had to plan the whole process.  To mobilize his countrymen he first had to organize them.  That required shrewd planning.  He had to plan ahead…not  lead from behind.

Have a great day!

 

 

“RETIREMENT PLANNNG: READ THE NEED, THEN LEAD”

January 4, 2017

Reaching the goals in financial planning for an individual or family is not a matter of presenting a predetermined package and assuming it will provide for the needs and goals of the  retirement plan.  A financial advisor needs to  respond to individuals based on their needs rather their lack of having a formal retirement plan.  Not having a retirement plan sometimes causes an advisor to concentrate on this fault of the individual and not the needs and goals of that individual.

A predetermined package is not the way to lead the individual in developing a plan for retirement plan.  The advisor must size up every situation and discern what must happen to  reach the desired goal.  Like a quarterback who reads the defense, then calls an audible from the line of scrimmage, good advisors remain flexible and may change their response, based not on what a person deserves, but on what they need to succeed.  Good advisors follow this path in difficult situations:

  • They need:  They aren’t afraid to admit they need to listen and get understanding.
  • They read:  They evaluate what has happened and what steps are the best to take.
  • They feed:  They communicate what they’ve observed to the key players.
  • They heed:  They act on the basis of their discovery, even if it means change.
  • They lead:  They provide direction to those involved.

The advisor leads only after they have determined the need,  read the situation, feed to the individuals through communication, and heed by acting on their discovery, even if changes are to be made.

When meeting with a prospective client about developing a retirement plan and there is not formal plan, it is not time to concentrate on the “fault.”  Most people don’t want to be criticized by pointing out the fault of not having a plan.  It is never too early nor too late to develop a plan that will meet the needs and goals of the individual.  It is time for the advisor to be a leader and provide encouragement and expertise in the development of a plan.

http://burrowsfinancial.thebetterretirementplan.com

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Proverbs 25:21,22

Leaders need to respond to individuals based on their needs rather than their faults.  Proverbs 25:21,22 encourages us to see what others need…even our enemies…and respond accordingly.

Have a great day!