Wright Financial Group, LLC

10 Signs You’re Working With a True Retirement Income Specialist

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10 Signs You're Working With a True Retirement Income Specialist

If you’ve asked your financial advisor to move your assets into more conservative investment vehicles, such as bonds and bond-like instruments, and they didn’t fight you about it, then you might be working with a true retirement Income Specialist. Income Specialists know that as you approach retirement, there’s a simple, yet very important switch you need to make in how you plan and save for retirement. The switch we’re talking about is shifting your focus from investing for growth, or capital appreciation, to investing for income. Failure to make this switch is often the reason why people fall short of reaching their long-term financial goals. Unfortunately, since many of the advisors serving those in the Baby Boomer demographic first got into the industry during the 1980s and 90s, in what was the fastest growing stock market in U.S. history, many became stock market specialists focused on chasing growth. Since their clients were participating in the market through mutual funds, many of these advisors also became overly dependent on mutual funds. Few know how to invest for income the right way, through interest and dividends.