Families might be starting to think about summer mode, but it could also be time to take a step back and think about your retirement plan and if it’s built to handle the unexpected.
Tom Jacobs, the CEO and founder of Jacobs Financial Services, appeared on “Live In The D” to share some insight.
He stressed the importance of having the correct mindset when you’re approaching retirement or if you’re already retired.
Jacobs that during the working years or accumulation phase, people think about growth, accumulation, rate of return, and where’s the best spot for their retirement account.
“But once we have retired or as we’re approaching, we just simply can no longer take that risk. We need to put the money in spots where we can’t lose it,” he said.
Jacobs recommends taking the money out of the volatile markets and creating a plan to use those funds to lifetime income that won’t go away.
Watch the video above to learn more about Jacobs Financial Services.
Disclaimer: The information provided is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Financial instruments involve risk. Actual customer results may vary. Subject to full terms and conditions available at: jacobsfs.com
