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Planning for Retirement

While retirement is a time of life that should be enjoyed, it is a major change that can bring a variety of questions, concerns and feelings that must be addressed. Retirement is often viewed as a “promised land” type of moment, filled with relaxation and excitement. Unfortunately, many individuals and families experience unneeded fear and anxiety as they make their transitions from work life to retirement life. 
 
At Red Door, we view retirement as a three-step process.

1. Planning for it
This involves putting together a retirement road map. This plan will tell how much you need to save, what kinds of returns you need, and how soon you can reach your destination, among other information. We have discussed this at length in the past and hope you have already experienced our retirement planning process. If not and you are interested, please let us know. This is where most advisors stop their planning, but at Red Door we go to the next level in preparing you for the emotional side of retirement.

2. Understanding the psychological and emotional changes
You will experience positive emotions at retirement, such as excitement, joy, freedom, accomplishment and peace of mind. At the same time, you’ll also experience negative emotions like sadness (resulting from a loss of or change in professional identity or collegial community or other factors), anxiety, pessimism and ambivalence. Experiencing a full range of emotions is normal during any period of change, and understanding these ahead of time will mitigate stress. Being aware beforehand and mentally working through this will allow you to be better prepared.

3. Reducing stress and living a fulfilled life in retirement
Once you get past the emotional and psychological turmoil, you need to focus on creating a new you. Here are a handful of tips to help you during this transition.
  • Have satisfying relationships.
  • Make sure you keep your mind and body in shape – exercise both.
  • Stay young at heart.
  • Acts of kindness go a long way.
  • Create a new vision of who you want to be and put in place good routines to support it.
  • Pursue meaningful work and become active in projects you couldn’t pursue while working.
An example of creating a new stress-free routine is how to your replace your paycheck. The No. 1 concern for individuals in retirement is “Am I going to run out of money?” Everyone wants to retire comfortably and confidently without outstripping financial resources. The simplest way to achieve this is to create a cash flow analysis and make sure you get deposits into your checking account (like a paycheck) from investments on a recurring basis.
 
Thinking about retirement as a process rather than a single event can reduce the stress involved in this transition and help you embark successfully into the next phase of your life. Your Red Door team looks forward to working with you and helping you successfully progress through these steps.

Market Update

There are times when you seek to exploit opportunities, and there are times when you simply need to circle the wagons. The current environment we face definitely falls into the latter group. 
 
You probably recall the email we sent in early August, which said we were reducing risk in portfolios and hunkering down. While the timing was great (and lucky), we are still not 100 percent immune to the downturn. August and September were tough months for markets, not only domestically but also globally, finishing at -8.7 percent and -10 percent, respectively. The third quarter as a whole was the market’s worst quarter return since Q3 2011. Although we are on the other side of a couple of bad months, we are still holding our defensive positioning. It’s best not to catch a falling knife. 
 
As we have been preaching, a correction was inevitable, so we hope no one is surprised. And yes, we know that it’s no fun going through this, but it’s important to hang in there and remain calm. This is healthy for the markets over the long term. There will be a silver lining as we patiently wait for a good buying opportunity and can take advantage of stocks selling at a discount.

The 2015 Red Door Dove Hunt was a Success! 

We had a blast (pardon the pun) earlier this month at our third annual dove hunt at Jamieson Farms in Somerville. It was all good – good weather, good attendance, good food, good times and lots of birds flying. Thanks to everyone who participated, and keep an eye out for the 2016 hunt next year! 
 

Adam Irving and his son, Brady, enjoyed the hunt. 
Disclaimer
This communication and its content are for informational and educational purposes only and should not be used as the basis for any investment decision. The information contained herein is based on publicly available sources believed to be reliable but not a representation, expressed or implied, as to its accuracy, completeness or correctness.

No information available through this communication is intended or should be construed as any advice, recommendation or endorsement from us as to any legal, tax, investment or other matters, nor shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this communication constitutes investment advice or offers any opinion with respect to the suitability of any security, and has no regard to the specific investment objectives, financial situation and particular needs of any specific recipient.

This email represents the opinion of Red Door Wealth Management and is for informational purposes only. It is not a recommendation nor is it intended to be construed as tax or legal advice by the recipient. Past review of investments are no guarantee of future results.
Copyright © 2015 Red Door Wealth Management, All rights reserved.


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