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Are Your Financial Plan and Adviser the Right Fit for You?

Whether it’s clothes, hobbies or interests, over the course of your life, you outgrow things. At some point, the same will be true of your financial plan. You’ll reach an age when it no longer fits, and the focus of the plan needs to shift because of changing investment strategies in retirement.

This shift happens because your needs are different when you are younger than when you are nearing or entering retirement. A younger you is in the accumulation stage of retirement planning, stashing away as much money as possible and investing it for big gains. Later in life, as priorities and needs change, you enter the distribution stage, where those savings become your source of income. At this point, your investment goal becomes preservation, to protect what you have for the remainder of your years.

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