You’ve spent your entire career working toward the major milestone of retirement. It would be terrible to finally reach that goal only to be met with regret. Our firm strives to provide our clients with a retirement strategy, based on their values and their vision, that will give them peace of mind to move forward with their financial plan. This means we keep our clients’ priorities in mind in order to make them happy in the short term as well as the long term.
Here we will take a minute to warn you about the biggest regrets in retirement we want to help you avoid.
1. Lacking Vision
We at Haydel, Biel & Associates don’t just go over your investments and finances. We care about your passions and dreams as well. When it comes to your retirement, it’s important to get back to the real “why” behind your vision. Once you know what you want, then it’s easier and more effective to create a strategy and a list of future goals that will bring your dream retirement into reality. Without this vision and these goals, you would be shooting in the dark and most likely missing your targeted goals.
2. Choosing Objects Over Memories
In our experience, we’ve seen many people put too much emphasis on objects and material things and not investing enough in family and memorable experiences. Unless you’re a master collector planning to sell your items on eBay and at auctions, making that part of your retirement plan, try to shift your thinking. Time is your most precious resource. You can always make more money, but you can never make back your time. Family experiences like travel, holidays, hobbies, and special experiences are priceless and irreplaceable. These will last a lifetime—and they won’t take up space in your house!
3. Not Making Your Final Preparations Known
Planning for retirement is not just about growing your assets while you’re alive, it is also about planning what happens to your assets after you pass away. If you have not already, contact an estate attorney to draw up a living will and trust. In this precious document, you will be able to allocate who, what, where, when, and how your assets will be handled with your heirs.
Once you have completed your living will and trust, spread the word. Make sure your family and heirs know where to find your living will and trust as well as any other estate or legacy plans. While this topic can be depressing and difficult to talk about, it is extremely important that you set this up. It will save your family and heirs a lot of heartache after you are gone.
Retire Without Regrets
Specifying what is important to you is vital for a sound retirement strategy. This way, it is easier to plan for what kind of investments and strategies to pour into as well as how much money is needed to reach all your goals once retirement comes around.
Do you want to know more about how to ensure you won’t regret your retirement? Contact us at Hayden, Biel & Associates by calling (626) 529-8347, or email me directly at ricky@hbawealth.com so we can talk about your concerns and your options.
About Haydel, Biel & Associates
Haydel, Biel & Associates is an independent financial advisory firm serving individuals and families near Pasadena, California. The firm was founded in 2004 by Chris Haydel and Ricky Biel with a desire to provide unbiased, client-centered, community-based financial advice. Together, they have built a practice that has grown into a family of caring, smart professionals committed to blending proven investment methodologies with creative financial technologies that make it easier than ever to accomplish your goals. They strive to keep things simple and fun to give their clients peace of mind and alleviate financial stress. HBA Wealth takes care of their clients’ needs first and foremost and goes the extra mile to make their clients’ finances grow. To meet and see how the HBA Wealth team may be able to help, contact them today at (626) 529-8347 or email Ricky directly at ricky@hbawealth.com.