Minimize Retirement Threats; Wear Your Helmet

by David D. Holland

 

 

Morning Launch: It was still dark as I zipped West on State Road 40, a route I knew well. With light traffic and plenty of shoulder, it made for an easy ride. This one morning, my mind was drifting. I wasn’t paying close enough attention to where my bike wheels met the pavement. Suddenly my front tire hit a patch of sand overlooked by my headlights (it’s a “ten-speed” not a motorcycle). As I struggled to regain my balance, the front tire slipped off the pavement into some more soft (and deep) sand. The front tire stopped. I didn’t. I was launched over the handle bars at about 15 miles an hour. Although there was really no time to react, instinctively, I twisted my body in mid-air to protect my head and face. (Those darned ski-jumpers make it look so easy.) My helmet audibly cracked when it found the pavement. My first thought was, “Hey, where did all that ‘soft’ sand go?” Still in a bit of a daze, I stood to welcome a few scrapes and bruises. Thank God I was wearing my helmet.

Road to Retirement: So, where’s the “soft sand?” What can go wrong in your personal financial situation that could suddenly disrupt your life? Are you clear about the threats you may experience along the “road” to your retirement? It is not overly difficult to address the threats IF you take precautions BEFORE these potential events occur. For example, you can’t set up a trust or write a will after you have been declared incompetent. You can’t buy long-term care insurance when the doctor says you need to go into a nursing home. And, it’s awfully imprudent to yank your money out of the stock market after it has plunged 30%!

We are all on a financial journey. Some are further down the road than others. Have you received expert advice about the things that can go wrong and how to deal with each one? Do you have the right equipment? The bike shop was very knowledgeable about the threats I could face. They guided me on the precautions I should take and the equipment I should get, including my neon green shirt, bike lights and helmet. That didn’t mean that there wouldn’t be bumps (literally and figuratively) along the way. I’ve had at least a half dozen, very inconvenient, flat tires! But, with the help of my friend, Norm, at Daytona Bike Center, I’m better informed, prepared to deal with unexpected events when they occur, and have even made a few upgrades along the way.

Trip Planner: As you can imagine, after running my firm for seventeen years, I have seen a lot of what can go wrong on the “Tour de Retirement.” Isn’t it time to make sure you’re better prepared? Call my office and I’ll send you my free booklet entitled, “Minimize the Threats to Your Retirement Security.” There’s no cost or obligation – so enjoy the ride!


 

 

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David D. Holland, a CERTIFIED FINANCIAL PLANNER™ practitioner, hosts a weekday radio show at 9AM on AM1380 Ormond Beach, AM1230 New Smyrna Beach and AM1490 Deland. He has also authored two books in his Confessions of a Financial Planner series. Holland offers investment advice through Holland Advisory Services, Inc., a registered investment adviser in Ormond Beach. He can be contacted at (386) 671-7526. Email your financial questions to info@DavidHolland.com.