The Pandemic Is Playing Havoc With Our Financial Plans
"I feel like I am being forced into an earlier retirement. My wife is working but with a pay cut and not sure about the future of her company. We have advisors at Schwab that work on the big picture. They tell us we are doing fine with our long term retirement. But they don’t help with the day to day practical financial stuff. Any suggestions?"--TG
COVID-19 has turned our world upside down with the market going up and down like a roller coaster. I personally don't know any financial advisor who will help with day-to-day financial stuff so I asked a financial expert for his advice.
The pandemic has indeed played havoc with retirement plans but it need not control our lives. Without knowing your personal situation, I will be unable to get into specifics. Long term planning is closely related to practical financial stuff and they cannot be mutually exclusive.
A comprehensive retirement plan is the sum of multiple components. Anyone approaching or in retirement (and their advisor) should be considering important aspects such as Social Security Income optimization, RMD (Required Minimum Distribution) impact, Sequence of Returns Risk, the need for Long Term Care, among several other aspects. Please contact me to discuss your personal situation. Arvind Ven: 408.725.7122 or arvind.ven@lpl.com. www.capitalvgroup.com