Broker Check
Planning For Retirement Using An Asset Map

Planning For Retirement Using An Asset Map

| April 02, 2021
Share |

Retirement planning can be challenging and stressful. People nearing retirement need to plan for various unknown outcomes in an attempt to protect their investments and hard-earned savings without access to a crystal ball. Not only is it complicated to begin with, but many people do not have a complete understanding of their current financial outlook or financial projections, which makes making the right decision difficult to achieve.  

Despite this, many Americans do have a very distinct vision of what their retirement should look like. Whether it is spending more time with your family, pursuing a passion or hobby, or taking trips to Asia or Europe, retirement is a time to enjoy the fruits of your labor and enjoy life.

So how do you ensure that your retirement plan will allow you to retire with the quality of life you have worked so hard for? With our clients, we’ve found that using an asset map to plan for retirement really helps people stay focused and organized when it comes to their wealth management strategy. Asset maps provide our clients a complete understanding of what their current financial situation is and what decisions they can make that will allow them to achieve their desired financial outlook in retirement. 

What Are Asset Maps? 

Asset maps are used by some financial advisors to help their clients understand their current financial state and how their current financial habits and decisions will affect their future. Asset maps are helpful because they are easy to understand and lay out all the client’s pertinent information in a digestible format. Because most people are visual learners, it is unlikely that they will truly comprehend typical financial documents that are lengthy and include complex financial language. 

Easy To Understand 

Asset maps condense and organize your information into one simple page. This page displays all your financial information, including investments, insurance, savings, pension plans, Social Security income, as well as any outstanding debt from a mortgage or credit cards. 

The reason why presenting this information in an asset map is so powerful is because it helps identify missing pieces to your financial plan that may have been overlooked. Perhaps you have an old 401(k) that needs to be updated or maybe you and your spouse want to retire early but have not considered the long-term ramifications of this decision when it comes to Social Security. When using an asset map, all these issues can be observed quickly at a glance.

Projections

Probably the most useful characteristic of an asset map is that it empowers the client to make the best financial decisions based on the current facts of the situation and then offers a projection of their financial outlook based on the decisions they make. This is truly a powerful tool in retirement planning. So many people make decisions without fully understanding how it will make a difference for years to come. 

Keeps Risky Moves In Check 

Another way that asset map software helps our clients is through its capability to integrate with Riskalyze. Through Riskalyze, asset maps will further show you your personal risk tolerance and the risk of each of your investment accounts. 

Questions? We’re Here To Help.   

We know retirement planning can be overwhelming, especially if you are perusing through dozens of pages of documents. It can feel disorienting and anxiety-inducing if you don’t know whether or not you’re properly prepared for the next stage of your life. We can help you reduce some of that stress with our retirement planning tools and strategies. To contact us, call 352-207-8014 or schedule a complimentary phone call using our online calendar.

Check out our online risk assessment tool to discover your risk number: Free Portfolio Risk Analysis.

About Chris

Chris Reed is a financial advisor and the founder of Match Point Financial. Since 2002, he has been helping people make informed choices with their money and pursue their financial goals and objectives. He started his career with MetLife and has continued seeking to provide his clients with the best possible service through A.G. Edwards, UBS, and finally through partnering with Cetera Advisors LLC and forming his own independent firm in 2010. Learn more about Chris by connecting with him on LinkedIn or register for his recent webinar Are Your Old 401(k)s Collecting Dust and Losing You Money? here.

Financial Advisor: Securities and advisory services offered through Cetera Advisors LLC, member FINRA/ SIPC, a broker/dealer and a Registered Investment Advisor. Cetera is under separate ownership from any other named entity. 

Investments in securities do not offer a fix rate of return. Principal, yield and/or share price will fluctuate with changes in market conditions and, when sold or redeemed, you may receive more or less than originally invested.  No system or financial planning strategy can guarantee future results. 


Share |