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Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
May/June 2022
Safeguard Your Portfolio Against Unpredictable Markets
You can’t forecast what the markets will do in the future, but you can be prepared for the ups and downs. If you’re in the home stretch toward retirement, having a plan that helps to reduce your risk of a portfolio meltdown can be comforting.
Start with a Review
Reviewing your asset allocation periodically, with the help of your financial professional, is a good first step. Unless you’ve invested in a target date fund that automatically rebalances your investment mix, assess the amount of risk you’re taking with your investments and readjust your portfolio to be more in line with your current risk tolerance, which might change as you get closer to retirement.Leave the Money in Your Account
Withdrawals from a 401(k) or other qualified retirement account before age 59½ come with a penalty and are taxed at your regular income tax rate, which could be higher if the additional income pushes you into another income bracket. Early withdrawals also reduce the amount of money you’ll have available at retirement. Plus, the longer your money is invested, the greater the opportunity for your account to benefit from compounding— earning interest on interest.Remove Emotion from the Mix
When the markets are volatile, you might be tempted to sell investments to limit your losses. Sticking with a well-planned investment strategy instead of letting emotions guide your buy-sell decisions is the smarter move.Develop a Plan
When you’re ready to retire, having a plan in place for withdrawing money from your retirement accounts can help ensure your savings will last. Set aside money that you’ll need for living expenses in a cash account that you can access at any time without paying a penalty. That way, you won’t have to sell investments to meet your income needs when the markets are down. And keeping a significant portion of your money in investments with the potential for earning inflation-beating returns may allow your nest egg to continue growing throughout your retirement.1-05239125
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
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