Dependable Retirement Planning Advisors

San Diego Retirement Planning

San Diego retirement planning involves choose sound and reliable investments. Furthermore, when you're planning your retirement, you want to diversify your savings and avoid bad investments. This may seem obvious, but there are a number of bad investments that look okay to inexperienced investors. Once you're aware of some of the basic red flags of bad investments, you'll be able to protect your savings more easily.

Also, when you're planning your San Diego retirement, you may want some guaranteed income. A number of different options can provide you with reliable income, such as pension plans. Well, pension plans may not be the most reliable, but they might be considered during your San Diego retirement planning, as a potential investment that provides income.

Diversify Your Savings

San Diego retirement planning specialists and financial experts will often tell you to diversify your investments. If you put all your eggs in one basket, so to speak, you risk losing all of your assets. Even the safest investments can turn sour sometimes, so avoid investing solely in one thing. During your San Diego retirement planning, you may be encouraged to put all your money into annuities, REITs (real estate investemnt trusts) or tax-deferred counts, such as IRAs or California 401(k)s.

IRAs and 401(k)s, can be great investments, but that doesn't mean that you should solely rely on them during your later years. The same goes for annuities: don't rely on them alone. Remember, tax-deferred money can come back and surprise you with a big, unfortunate bill. Also, even if you love San Diego, California real estate, investing in an REIT alone is not a good plan.

The only time it's okay to put all your money in one place is if you're entrusting it to a San Diego financial advisor or mutual fund company. A reputable brokerage firm may also be an option for your San Diego retirement planning. Still, if you choose to allocate all of your money to one company, or one individual, make sure that your investments are diversified. Furthermore, don't rely solely on your own judgment: check to see that the chosen individual or company has a good reputation.

Retirement Investments

When you're planning your investment portfolio, make sure you fully understand everything you buy or invest in. Understanding what you're investing in is the best way to ensure that you have solid, reliable savings. If you don't understand how an investment works, don't buy it. Again, if you fully trust your San Diego financial advisor, you can rely on him or her, but it's still best to fully comprehend what you're investing in.

Here's another trap that people fall into during San Diego retirement planning: buying investments with surrender charges. Some annuities and mutual funds have high surrender charges, which can be huge problem when something unexpected happens. For example, if you want to buy a new house, or you face medical expenses, you may need access to that money. Investments with high surrender charges are not the best options when you're planning for your San Diego retirement.

Also, illiquid investments, which don't allow you to access your money, can be somewhat risky. Illiquid investments certainly aren't bad investments, but you need to make sure you have some accounts with money you can easily access as well. It may take a long time to access money in an illiquid investment, so you need to have savings and other accounts you can easily access.

Some investments will pay upfront commissions to your San Diego, CA advisor, which means the your advisor will have less incentive to provide you with ongoing, quality service. Obviously, you want to have an advisor who's invested in your San Diego retirement planning. You may want to avoid investments that pay upfront commission, or make sure they're only a small percentage of your portfolio.

Investment With Income

Your San Diego retirement planning advisor may want you to consider ongoing income. You can run through a savings account, but if you have guaranteed, consistent income, you'll be safe. One option, for example is a reverse mortgage on your California home. Other options include social security and pension plans.

When you're considering your later life, you'll want to think about how you will access your savings during your golden years, and that's when it's time to think about investments that provide income. CA longevity insurance may be another option, along with annuities. Certain kinds of treasury securities may also provide you with reliable income.

Consulting with a San Diego retirement planning specialist can help you create an appropriate investment plan for your California retirement. If you're planning to retire in the next few decades, you should start considering your portfolio. It's never too early to start planning for your retirement, and it's never too late, either!

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Retirement Planners In San Diego

Michael Harris
Michael Harris
600 West Broadway, Suite 225
San Diego, CA 92101

Jennifer Shintani
Jennifer Shintani
12680 High Bluff Drive
Suite 250
San Diego, CA 92130

Scott McClatchey, CFP
Scott McClatchey, CFP
2131 Palomar Airport Road
Suite 330
Carlsbad, CA 92011

Rodd Miller, CFP
Rodd Miller, CFP
1901 Camino Vida Roble
Suite 112
Carlsbad, CA 92008

Shane Terry
Shane Terry
1901 Camino Vida Roble
Suite 112
Carlsbad, CA 92008

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