Each year we set lofty resolutions that are often difficult to keep. Yet with the right preparation and a dash of motivation those lofty goals can be easily achieved. This is especially true when it comes to financial planning.
If you’ve seen my national TV show, The Income Generation, you’ve probably heard me talk about the importance of building financial defense around your retirement planning. However, since it gets little attention from financial advisors and the media, there are many misconceptions about it.
One of the biggest misconceptions is that you must sacrifice growth when you shift your focus to financial defense. This is simply not true. You can continue to grow your portfolio organically, by strategically reinvesting the income you don’t need into other conservative vehicles.