Finding Balance

You’re in the home stretch of your career, and that’s exciting — but you’re not running quite as effortlessly as you’d imagined. The financial ties to your children aren’t entirely severed, and your aging parents are turning to you for answers as they strive to maintain their independence. You’re earning more than ever, but you haven’t ramped up your investing as much as you’d hoped — so you’re fretting about retirement.

If this sounds familiar, you’re probably concerned with Finding Balance in your financial life. And while there are no easy answers, a First Command Financial Advisor can help.

Investments

The good news is that your investment objectives have narrowed, and you can focus sharply on retirement. Even if you’re concerned that you’re behind schedule on your retirement investing, your Financial Advisor can help you:

  • Understand where you stand in pursuit of your retirement goals. Your Financial Advisor can bring clarity to your retirement-planning efforts by reviewing your current course and explaining choices you can make now to impact the outcome — like ramping up your efforts, adjusting your expectations, or a combination of the two.
  • Know your investment options and the rules that may enable you to increase your investing into tax-advantaged retirement accounts. “Catch-up” provisions in the federal tax code may allow you to invest additional money in your employer retirement plan or IRA once you hit age 50. Or a variable annuity may meet your needs. If you own a business, your Financial Advisor can introduce you to retirement planning options for both you and your employees.
  • Ensure that you’re properly diversified and that your asset allocation provides an efficient balance of risk and reward. Diversification is particularly important as you draw closer to retirement. Your Financial Advisor can recommend mutual funds that give you broad exposure to various parts of the market. And your Advisor will likely introduce you to the Select Investor Program, a professionally managed asset-allocation plan designed to maintain the optimum mix of stock funds, bond funds and cash in your portfolio based on your goals and risk temperament.

Insurance

Your insurance needs are as unique as your financial situation, risk temperament and long-term goals. A First Command Financial Advisor can help you develop a personalized insurance strategy to protect the things and provide for the people most important to you. This strategy is a vital part of a financial plan, especially for answering essential questions when Finding Balance:

  • Have your life insurance needs decreased since your children have left the nest?
  • Does your homeowner’s insurance coverage accurately reflect the replacement value of your home and possessions? 
  • Is the disability income insurance provided by your employer sufficient?
  • Should you consider a long-term care insurance policy?

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