Asheville financial advisors offer tips on planning your retirement
News from Asheville Citizen-Times:

Let’s say you want to retire in 10 or 15 years and that you’ve got a retirement account, such as an IRA or 401(k). You want it to grow, but you want to minimize the risk of losing principal.

What should you be doing now? Sharing their thoughts here are Glenn Wessel, a certified financial planner at and principal of Wessel Investment Counsel in Asheville, and Jim Torpey, financial adviser with Edward Jones in Asheville.

“Retirement planning is a little like trying to forecasting where a hurricane may hit. When the storm is far away, forecasting precision is lost,” Wessel said . “Nonetheless, forecasters have become amazingly good at estimating the so-called ‘central tendency.’ The same technology exists in the realm of financial planning.”

Tools exist that will help people predict how much they’ll need during their retirement years and what investments will help them get there. But the accuracy of those tools depends on how well investors know themselves and how comfortable they are with risk. Being too conservative can be as damaging as being overly risky. As unpredictable as the stock market and other investments can be, doing nothing can be as bad as not planning at all, however.

“The caveat in all this is all the unexpected things people have not prepared for or have not addressed,” Torpey said……………. continues on Asheville Citizen-Times

… Read the full article
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Asheville financial advisors offer tips on planning your retirement
News from News Record and Sentinel:

Let’s say you want to retire in 10 or 15 years and that you’ve got a retirement account, such as an IRA or 401(k). You want it to grow, but you want to minimize the risk of losing principal.

What should you be doing now? Sharing their thoughts here are Glenn Wessel, a certified financial planner at and principal of Wessel Investment Counsel in Asheville, and Jim Torpey, financial adviser with Edward Jones in Asheville.

“Retirement planning is a little like trying to forecasting where a hurricane may hit. When the storm is far away, forecasting precision is lost,” Wessel said . “Nonetheless, forecasters have become amazingly good at estimating the so-called ‘central tendency.’ The same technology exists in the realm of financial planning.”

Tools exist that will help people predict how much they’ll need during their retirement years and what investments will help them get there. But the accuracy of those tools depends on how well investors know themselves and how comfortable they are with risk. Being too conservative can be as damaging as being overly risky. As unpredictable as the stock market and other investments can be, doing nothing can be as bad as not planning at all, however.

“The caveat in all this is all the unexpected things people have not prepared for or have not addressed,” Torpey said……………. continues on News Record and Sentinel

… Read the full article


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