Fete Lifestyle Magazine June 2022 - Travel Issue | 页面 31

As mentioned, you will want to consider a shift to a more risk-adverse portfolio as you approach retirement. This may involve taking your accumulated wealth now and transferring them to more conservative options. This helps to maximize your retirement pot, protecting it at the tail-end of your peak earning potential. The stock markets have been performing well for some time. Economic history tells us that the markets are cyclical and that they will continue to drop before beginning another

period of growth.

It is important to remember that if you lock in your stock gains outside of a tax-advantaged account, you will generate taxable income. Furthermore, if you sell stocks within a year of purchasing them, any gains will be taxed at your highest personal tax rate. There are ways to protect yourself, such as holding onto stocks for a least a year or purchasing PUTs or setting a trailing stop order. But those are outside of this discussion, please note that we recommend working with qualified professionals for tax and financial advice on any such situations.

Whatever you choose to do to

lock in your stock gains and to

protect your retirement nest

egg and financial lifestyle. If

you’re planning to retire at 65,

you may be able to enjoy 30 years

or even more of retirement. But

you still need to make informed

decisions to protect your wealth

and ensure you are financially

prepared for retirement.

For more financial lifestyle advice

contact us. 312-952-8040/Cell,

312-243-3907/Office,

[email protected], www.1stcig.com