The biggest question is, "Are you investing for a specific purpose?”
For the most part, today’s financial products are highly specialized to achieve a desired result. For example, you may identify an income gap between your guaranteed sources of income(such as social security and a pension) and your desired monthly income.
To fill that income gap, you may use a professionally managed portfolio that is built around investment vehicles that generate a consistent yield or income. You could also choose an annuity contract that guarantees a certain amount of income for the remainder of you and your spouse's life.
What are you trying to achieve? Do your current holdings reflect that goal?
For our clients at Montini&Co, the desired goals tend to focused on three topics: safety, income, and growth. As we build long-term retirement plans we will use multiple portfolio managers and contracts that are designed to achieve specific results.
The bottom line is you should review your assets with a Financial Advisor on a consistent basis to ensure you are investing correctly for your purpose.
Click here for a no-cost review of your assets
Let Montini&Co help you identify what goals you may need to achieve and build a plan that matches those needs. We invite you to schedule a no-cost review of the assets and holdings you have to see if you are truly investing for a purpose.
Written by Marc Montini, IAR and Managing Partner with Montini&Co.