John Boyle, former leader of the Vanguard Family of Funds, was often quoted about many financial happenings. One of my favorites was, "The idea that a bell rings to signal when to get into or out of the stock market is simply not credible."
Next month marks my 67th year of providing financial counseling and service to people; my associate—my older son Lee—will be celebrating his 40th year. We both honestly can say we do not know anybody who has done this successfully and consistently, just as we don't know of anybody who has always gotten into and out of the stock market at the right time.
In our book SHM Financial's Smartest Book on Pre and Post Retirement Planning, we talked about protecting yourself from inflation and changing market trends. We're not saying the stock market won’t go up or interest rates will come down; we are saying that hope is not a plan, and that the markets, interest rates and inflation won’t return to how they were. You must adapt to today’s environment now, not next week or next month.
Make what is happening work for you—and make it pay you. It’s easier than ever to set yourself up for income streams that pay you for life and also let you pretty much ignore both what's in the news and the markets’ direction.
Now is the time to refocus on the fundamentals of financial planning and retirement planning, such as: making sure you have enough guaranteed income; having a spending plan for your other assets; reviewing your Medicare or health plan to minimize out-of-pocket spending, as 2025’s changes have increased many participants’ spending on medical coverage; diversifying your investment portfolio; and minimizing income taxes.
Your goal—and our client focus—is achieving and maintaining financial independence and security, especially in retirement.
The SHM Financial Group
Voorhees | (800) MONEY-SHM
SHMFinancial.com
