Distribution Land is totally different than what you’ve experienced. To this point, you have been in Accumulation Land, where time has been your friend. You were likely advised to put money away consistently. You weren’t too concerned about whether the market soared or sagged; if it went down, it meant you could buy a greater number of shares at a bargain price. You were not planning to pull out the money soon for income.

Now you are crossing through the mist into a new world, everything looks different. Now you are withdrawing money for income, and time may no longer be your friend. If the market drops while you are pulling from your portfolio for your income needs, you could be in trouble. You might not be buying any more shares at a bargain; rather, you could be forced to sell at just the wrong time—and you don’t have years stretching ahead of you for a recovery. What you did before might not work anymore. In this land, you need different weapons for survival.

Managing risk is the most important aspect of good retirement planning, not pumping up your investment return. Retirement is no longer as simple as signing up for Social Security, collecting your pension, and settling back. Rather you are preparing for a new phase of life and dealing with different factors that contribute to that way of life. For example, you are most likely planning to be more active, will live and work longer, and, for income, need to rely more on what you’ve saved. And that means ensuring that this income has the potential to last for your lifetime and to weather rising health care expenses, inflation, and market ups and downs.

Help ensure that you are on the right track for an optimal trip through this new land. Strive to avoid pit stops and potential dangers by educating yourself and surrounding yourself with a team of professionals for your needs. Make strategic partnerships to provide guidance along the way – don’t go it alone. Wonder where to start? Visit www.mysecondopiniontoday.com for some free advice on if you are headed in the right direction.