Restructuring Your Retirement Portfolio
Periodically restructuring a retirement portfolio based on market fluctuations
, profit potential, risk, and other factors are especially important in ensuring the stability of your nest egg. Even workers who feel that they are insulated against these aspects that can result in investment loss or nest egg depletion because of above-average savings or earnings have to do so, or stand a chance of losing everything once they've retired (and hard-pressed to find solutions such as additional sources of income).
Aside from investment losses, millions of American workers have seen drastic cuts in the value of their homes and other financial assets, as well as the crumbling of their retirement savings accounts. This has happened at a time when many retirees and seniors close to retirement have nothing else to do but downgrade their retirement lifestyles considerably. What does one do in this situation? While you can choose to work with a financial professional to revamp your financial plans and take another look at your goals, you can also restructure your retirement portfolio to take on more risk, aside from other textbook options such as saving more and working longer.
The retirement savings game is no longer what it used to be, especially for those whose nest eggs have been dealt serious and possibly fatal blows by the national economy. Many of these people may have previously thought that they were on the right track and investing and saving by the book - this doesn't really buffer anyone from the fact that even the best-laid retirement plans can collapse, with or without safety measures.
The horrible volatility of the markets and the uncertainty of workers whose lives depend on the stability of their finances may have been put on the brink by the global economic meltdown. For these workers, there may be nothing left to do but face the threat and devise an action plan - one that includes the informed proper restructuring of your retirement portfolio.
by: Carina Smith
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