A huge storm in the financial markets can devastate your plans for retirement, but there are steps you can take to lower your risk.
Tom Jacobs and Terri Deboer from Jacobs Financial Services appeared on Live In The D to share how you can weather financial storms.
“Most of the people we talk to have a significant amount of their retirement savings in a spot where they could lose it,” Jacobs said. “That might be the company 401K. Maybe they’ve retired, rolled their money over into an IRA and it’s invested in stocks, bonds, mutual funds.”
Jacobs encourages people to put their retirement money in a spot where the principal is protected.
Next, the conversation moved to being prepared for a storm.
Deboer compared the need to have a preparedness kit for a storm to the need to have a plan for your finances and retirement. One example is the Jacobs Retirement Roadmap, which takes people from where they are today to their finish line, while taking life’s milestones into consideration to create an income plan.
Click here or watch the video above to learn more about Jacobs Financial Services and how to weather financial storms.