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Ep 67: Are You A Risk Taker? How To See If Your Tolerance for Risk Matches Your Plan
Manage episode 366901613 series 2603366
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Do you like to take risks? Or would you rather play it safe and steady? When it comes to the market risk can come with great reward, but it can also be damaging if our risk tolerance is out of balance with our plan. Most people don’t realize how much risk they are taking on and have a much lower tolerance than their portfolio reflects.
When the markets are going up everyone feels good and when it goes down a lot of people panic. Why is this? Very often a client’s tolerance for risk doesn’t match their investments. If you’re having a hard time sleeping because you're stressed about the market, that’s a good sign you need to take on less risk.
On today’s episode, we’ll break down how risk plays into your retirement plan and what we need to do if it’s out of balance with your needs.
Key points:
0:50 – Do you take risk?
2:32 – Does your tolerance match your portfolio?
4:00 – What should you do?
5:03 – Ask your self how you’re going to feel
6:07 – Why do you think we are set up this way?
7:12 – You might not be de-risking as much as you think
8:32 – What options do we have?
10:40 – What’s the first step?
Read more and get additional financial details here: http://retirementplaybookpodcast.com
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