When people play the association word game, someone says a word or phrase and another person comes back with the first thing that pops into his or her head, like "bacon" eggs, "up" down, "peanut butter" jelly, "bullet proof." Bullet proof. Hmmm. Let's think on that one. Impermeable; Solid; Strong. Good words to describe a vest. Excellent words when portraying a retirement portfolio. —
"Learn the secrets of success in the new economy from today's leading entrepreneurs and professionals" is the subhead of the 73-chapter, 770-plus page book, titled "Successonomics," which was released in Kindle version early in 2014. Headlining with Steve Forbes, Canada's Gary Levesque and other well-known professionals in entrepreneurial and financial arenas, financial advisor Peter Bombara of PCB Financial Advisory Group penned Chapter 49, Bullet Proof your Retirement in Today's Economy.
"The need for a portfolio alignment has never been so important," states Bombara. "The Baby Boomers look at their parents, and the way life used to be is nothing like today. With pensions disappearing and volatility in the markets, understanding how a portfolio works in current economic environments assists greatly with establishing goals for steady income and financial security in retirement."
Of course, anyone who invested a modest nest egg of $2,250 in 100 shares of McDonald's when it went public in 1965 is comfortable on the financial front. With 12 stock splits along the way, that investment would have hatched into 74,360 shares worth approximately $7.2 million as of market close on Dec. 31, 2013.
Or perhaps some people took this tidbit of advice from the movie The Graduate: "Ben, just one word... plastics.” More likely, however, more than a few of the some 76 million Baby Boomers reluctantly tiptoeing into their senior years are on the track Auntie Mame referred to: “Life is a banquet; and most poor slobs are starving to death.”
This largest generation of Americans born between 1946 and 1964 fall somewhere in the middle of the lucky McDonald's investor and starving to death. It's always been challenging for both The Greatest Generation - Boomer parents and Baby Boomers to ask for help. They're the self-reliant sort to the max. But when it comes to financial matters, most of them seriously could use some professional navigation in the intricate world of finance.
Terms like investment portfolio, risk factors, hedging against inflation, down markets, sound economic strategy and wealth preservation are neither well-understood nor in common chitchat circles at cocktail parties or cafeterias. It takes seasoned, financial professionals to guide this independent generation into a streamlined financial strategy to preserve wealth and assure retirement income. Furthermore, it's never too late. "Many of the clients represented by PCB Financial are in the sexagenarian and septuagenarian decades of life," reports Bombara. "It's a privilege to offer counsel on organizing their assets for maximum return and income for a well-earned, enjoyable lifestyle."
It's not all doom and gloom as many Baby Boomers and upcoming Gen X'ers have savings, real estate and some IRAs and CDs. Managing it for prudent investment and the best return, however, usually doesn't fall in their realm of personal expertise. Thus, the financial professional stands at the ready to guide, advise and develop a sound avenue to retirement income and wealth preservation. The National Association of Personal Financial Advisors NAPFA, a professional association of financial advisors in its 31st year, is an amalgamation of highly trained professionals committed to working in the best interests of those they serve.
Baby Boomers are in the company, if not the financial equivalency, of the likes of Michael Jordan, Jon Bon Jovi, Conan O'Brien, Bill O'Reilly, Vanna White and Clarence Thomas. More than half of the Baby Boomers, however, are in the dark when it comes to wealth preservation and creating that proverbial portfolio that's impermeable, solid and strong, i.e., bullet proof. "It's not what you make," Bombara often quips, "but what you keep that counts."
Source URL: http://councilofeliteadvisors.com/liftmedia
Release ID: 68879