For those of you who are entering the retirement phase of your lives, my preferred strategy is to use a process sometimes referred to as “asset dedication” to fund your retirement plan and create the overall asset allocation. This process fits in well with my preference for income-producing assets such as high-quality dividend paying stocks. It’s really quite simple, but is also highly customized for each client. It involves the following steps:
1. Analyze the current budget and income requirements.
2. Compare the current budget to the projected retirement cash flow need.
3. Factor in extraordinary expenses such as projected …Read More