It used to be that people retired with the stability of a pension income, full Social Security benefits, and an amount of savings in the bank. Living expenses were covered by fixed income sources, most people had their houses paid off, and credit card debt as we know it did not exist. There was no question of having enough money, no fear of running out.
Compare this to today: most of us rely on a 401(k) which we contribute to while also trying to help our kids through college. We have second mortgages, home equity loans, and multiple credit card payments. We tend not to be debt-free, our Social Security income may be reduced, and most of us don’t have pensions. Instead, we have assets.
And so, we wonder, do we have enough assets? And what will be left after rising taxes and market volatility take their toll?
My name is Micheline Dagher, and as an investment adviser held to the fiduciary standard, I specialize in the risks of retiring today to help people like you realize their retirement success. Since 2011, I have dedicated my career to understanding the rules, regulations, and tax laws that can go on to affect your portfolio’s durability. I embrace this challenge by putting together holistic plans that give you three things: 1) a reliable income that can compensate for the effects of inflation, 2) a customized Social Security strategy, and 3) an extra layer of protection against the rising cost of healthcare. I believe that everyone deserves a plan designed for them and at my firm, this plan includes everything—income, debt, investment accounts, even your bucket list.
Before becoming president of Dagher Financial, I earned my bachelor’s degree in business management with a major in finance from Bircham International University and took advanced courses in finance from Northeastern University in Boston. A member of the National Ethics Association and the National Association of Women Business Owners (NAWBO), I am also a National Social Security Advisor certificate holder, a Chartered Retirement Planning Counselor (CRPC®), Accredited Asset Management Specialist (AAMS®), and Accredited Wealth Management Advisor (AWMA®).
I tell you this because approaching a retirement plan is not the same thing as approaching an investment plan. During your working years, you can choose a solid position such as mutual funds or stock options and ride out the market because you’re going to make money no matter what. As you near retirement, however, you need a specialist.
It’s easy to make money when the market is up; the challenge is not to lose money as much when the market is down. I always say that a goal is just a wish unless it’s written down. If you are concerned about outliving your money, if longevity runs in your family and you won’t be retiring with a pension, if your assets are in the stock market and you wonder how much you’ll be losing to volatility, then you owe it to yourself to get what you need: a written plan designed by a specialist who puts your best interest first.