Summary: <br> Stressed about planning for retirement??? You're not alone. Most of us (including me) freak out when we look at what it could take to provide for our family in retirement. Don't believe all the statistics; you can take control.<br> Investing Corner<br> Listener Question: Wayne Asks,<br> "My question is are there hidden risks doing my diversifying on top of diversity that I do not realize, other than my time for managing, and the loss of opportunity of my conservative and explore portfolio $s?"<br> Wayne has multiple portfolios, each with its own allocation:<br> <br> * Large aggressive portfolio<br> * Small moderately conservative portfolio<br> * Explore portfolio (where he invests based on his economic views)<br> <br> Hidden risks might include:<br> <br> * You are 55, and close to the danger zone, a time of 5 years before and after retirement when big investing mistakes can have the most impact on your retirement. The retirement danger zone is a time to focus on consistent investment returns.<br> * Not having a consistent risk profile of your investments based on what you are trying to accomplish<br> * Not having a process for evaluating the value, performance of each bucket. (no bonus points for complicated investments)<br> * Chasing returns or safety at the cost of focusing on your lifestyle goals for retirement<br> <br> Retirement Planning Stress: How to take control<br> No Wonder We're Stressed:<br> <br> * 60% of all works have less than $25k saving for retirement (USA Today)<br> * Only 22% of workers have over $100k saved for retirement<br> * Only 28% of current retirees have over $100k in savings and investments<br> <br> 4 Strategies for Beating Retirement Planning Stress:<br> <br> * Forgive yourself--We've all made financial mistakes. Stop with the coulda/woulda/shoulda's and own where you are now and focus on the future.<br> * Don’t stick your head in the sand--Don't get discouraged by the statistics about retirement. Regardless of your financial situation, you CAN make progress.<br> * Take control of your financial decisions<br> * Think creatively about your future<br> <br> What Stresses You About Planning for Retirement? Tell me on Twitter.<br> <a class="twitter-mention-button" href="https://twitter.com/intent/tweet?screen_name=roger_whitney">Tweet to @roger_whitney</a><br> Read the Full Transcript Here<br> The Retirement Answer Man Episode #28<br> Welcome! This is Roger Whitney. I am The Retirement Answer Man and this is the podcast dedicated to helping you live well today without sacrificing your tomorrow. That’s what we all want to do, right?<br> Today, we’ve got two great topics. In our Investing Corner, which is a new weekly segment, I am going to answer a listener question about what are some of the hidden risks if you choose to have multiple portfolios, each with its own different allocation. So, what are some of the risks there?<br> And then, in our Retirement Tip of the Week, we’re going to talk about four action steps you can take when you start to get stressed out and start to feel unprepared for retirement. I think we all feel stressed out and unprepared for retirement, especially when we see a lot of the statistics on long-term care planning and health care planning and what it’s going to cost in retirement. It’s easy just to say, “Man, I’m never going to achieve that!” and stick our head in the sand. I’m going to give your four action steps to help you feel more empowered in your life.<br> I want to thank everybody that left a review in iTunes last week. It means so much to me. It gives me great feedback so I can serve you better, and that’s exactly what I’m trying to do here and it also increases the visibility of the podcast in iTunes so we can build a Plan Well community and have more questions so we can all help each other.
