{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"3 Essential Elements to a Successful Retirement Plan","description":"3 Essential Elements to a Successful Retirement Plan If you are recently retired, it\u2019s time to shift your thinking when it comes to how and why you invest your dollars. You may be looking for the essential elements to a successful retirement plan. You've moved from \u201cpaycheck\u201d mode into \u201cdistribution\u201d mode. But, you might not realize it right away. However, when you've gone from adding to your portfolio to taking from it regularly, it\u2019s normal to have some hesitancy when it comes to transitioning your investments with this new phase of your life. Now it\u2019s time to shift that mentality into keeping as much of your money while you spend it. Three essential elements to a successful retirement plan come to mind. Everyone in retirement needs at least these three things in their plan. Safety, Liquidity, and Growth Potential. That is, focus on the safety of their dollars, growth potential of their investments, and having liquid access to their money. Safety  You will be hard pressed to find anyone who would say that they don\u2019t want their money safe. That they don\u2019t want any growth out of their assets.  They don\u2019t want liquid access to their money. Everyone wants those three things, and they are even more important to have during retirement. So, let\u2019s start with the first pillar which is Safety. Safety and having \u201csafe\u201d money investments is a pivotal part of a complete financial portfolio in retirement. You can read textbooks and do your own research. It can be understood that retirees should be take less risk and protect themselves when investing. Fundamentally, it takes longer to re-coup losses in retirement. This is because you won\u2019t be making regular contributions to your accounts like while you were working. . Having a portion of your investment portfolio invested or positioned in a safe or principal protected way should give you a lot of confidence about your financial future and allow you to worry less about your life in retirement. But don\u2019t overdo it, because safe money simply doesn\u2019t grow as much as money you are willing to take risk with ","author_name":"Wise Money Retirement","author_url":"http:\/\/rolandfinancial.libsyn.com\/website","html":"