Have you ever asked yourself “Do I have enough money to retire?”
With rock-bottom interest rates and fears of inflation, retirees may worry about their cash reserves and how much they need to have handy. Retirees may consider a buffer for living expenses to avoid selling their investments in a down market. But the exact amount depends on a retiree’s monthly expenses, income and more, financial experts say.
Click here to see what our very own expert, Larry Heller, CFP®, had to say to CNBC reporter, Kate Dore, about this topic!
From the article: “Research shows how long certain allocations may need to recover after stock market corrections, said Larry Heller, a Melville, New York-based CFP and president of Heller Wealth Management.
For example, a portfolio with 50% stocks and 50% bonds may take 39 months to recover in a worst-case scenario, according to research from FinaMetrica. That’s why Heller may suggest holding 24 months to 36 months in cash.”
Don’t just ask yourself “Do I have enough money to retire?” Instead, find a financial advisor who can help you know for sure. Say hello to carpe diem. Heller Wealth Management creates lifelong financial resilience. The benefit of such resilience is that you can continue to live your life, your way–unconstrained and unconcerned by the day-to-day direction of markets. We achieve this by employing proprietary strategies and systems that help ensure clients have the financial resources and security to make the most of their lives–for life.