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Stephen Stricklin, Founder and President of Wise Wealth, LLC is joined by COO, Paul Brock to answer frequently asked questions from clients and podcast listeners.
They cover common concerns such as:
- How often do you make changes or rebalance my portfolio?
- Do you watch the market and move assets out based on short-term volatility?
- How does my savings or retirement plan compare to others at
- this stage of life?
Stephen and Paul discuss the importance of rebalancing portfolios, which they typically do once a year to maintain the desired asset allocation and capitalize on buying low and selling high. While portfolio managers adjust for short-term market trends, clients should stay disciplined and stick with their long-term plan, as short-term volatility shouldn’t dictate investment decisions. Trusting the plan and remaining invested is key to achieving the desired rate of return over time.
They also explain how investor behavior, such as trying to time the market, often hinders success more than market fluctuations themselves, as missing just a few of the best market days can drastically affect returns. The key is sticking with a long-term plan, trusting portfolio manager, and remaining disciplined regardless of short-term market volatility.
The key is understanding your time frame and risk tolerance—investing in the market should align with your long-term goals.
The episode also addresses the idea of “comparing” your savings and retirement plan to others. The truth is, your plan should be tailored to your unique goals, income needs, and lifestyle choices. Everyone has their own “number,” which represents what they need to achieve their goals in retirement, and the only way to determine this is through a personalized plan.
Ultimately, your retirement plan’s success isn’t about comparing it to others but ensuring it meets your individual needs and goals. True success is measured by the peace of mind and financial freedom it provides, allowing you to fully enjoy life in retirement.
Ready to take the next step?
816.246.WISE (9473)