It's Time to Rethink Your Retirement Plan

Editor's note: In today's Weekend Edition of Empire Financial Daily, we're continuing this week's series of insights from our friend and colleague Dr. David Eifrig over at our corporate affiliate Stansberry Research. Here's "Doc" with the details on why we're in a unique period of time to take advantage of some incredible opportunities in income […] Not rendering correctly? View this e-mail as a web page [here](. [Empire Financial Daily Weekend] Editor's note: In today's Weekend Edition of Empire Financial Daily, we're continuing this week's series of insights from our friend and colleague Dr. David Eifrig over at our corporate affiliate Stansberry Research. Here's "Doc" with the details on why the conventional wisdom while saving for retirement doesn't always work out... --------------------------------------------------------------- It's Time to Rethink Your Retirement Plan By Dr. David Eifrig --------------------------------------------------------------- [Nationwide ban on American tech]( One European country has banned the use of an American-designed technology, citing a data breach. But the truth is, many governments can't keep pace with one of the fastest-growing technologies ever. In fact, just since the start of this year, the technology has already become 1,000 times better. To see how you can profit from the biggest story of the next decade, [click here](. --------------------------------------------------------------- What do you want to do when you're done working? Get a job at Home Depot? Or drive Ferraris, travel around the world, stay in the best hotels, buy nice things for your family members, etc.? My guess is the latter... And I can help you get there. Building a wealthy retirement doesn't happen the way you think it does. It's only partially about income. And it's only a tiny bit about investments and financial accounts and all that stuff. It's a mental game. It's about having the self-control, discipline, and foresight to put together your plan and stick to it. You must realize that it's your duty as a responsible, self-reliant person to save your way out of a paycheck-to-paycheck existence. If you want to have a break at any point in your life, it's up to you. Have you ever had one of those long days where you rush through work, get home, and look forward to putting your feet up and having a drink, but then you realize you've got a hundred other things to do before you can relax? The next thing you know, it's the following morning and you're back at your desk. Without a financial plan, that won't just be a bad day... that'll be your life. I hope you realize by now that no one is going to take care of you but you... Employers don't offer pensions anymore... And pensions promised to earlier generations – both public and private – are in dire financial straits. We're not fearmongers who like to claim that Social Security is about to be bankrupt (a few tax hikes will fix it – as unpleasant as that may be)... but we don't want to bet our financial future on it. We haven't been promised anything, and those monthly checks won't exactly make you a high roller, anyway. You've got to do this yourself. But here's the good thing... While your financial plan is extraordinarily important, it's not extraordinarily difficult. Folks outside of finance often think that investing success comes from hot stock tips or being glued to CNBC. That's not really the case. For most retirement investors, you've just got to sort out a simple asset allocation that suits your needs. Asset allocation is how you balance your wealth among broad asset classes like stocks, bonds, cash, real estate, commodities, and gold. Keeping your wealth diversified across a mix of investable assets is the key to avoiding losses. Let's say the stock market has a bad five or 10 years and heads downward. (It's going to happen sometimes. We just don't know when.) You can smooth out your returns and have a more predictable pile of wealth at the end by using asset allocation. Investors at every stage need to think about asset allocation, but it gets more important the closer you get to retirement. The 20- or 30-year-old has plenty of time to let his or her wealth build back up through savings and investment. You, the 50-year-old, do not. That's money you're about to count on for living expenses. Seeing it get cut by 20%, 30%, or 50% hurts... bad. --------------------------------------------------------------- Recommended Link: [Overheard at Apple's Secret Meeting...]( A thousand people attended... NO CAMERAS were allowed! One invitee said every iPhone was wrapped with "tamper-proof stickers" to prevent photographs. At the event, Apple unveiled a device that "could eventually replace mobile phones." Apple codenamed the device "N421"... But Michael Robinson calls it "iPhone Killer." To see how you could potentially profit from iPhone Killer... [Click here before April 26](. --------------------------------------------------------------- When you're thinking about retirement, focus on risk and smart asset allocation... Most folks just think about two asset classes: stocks and bonds. Stocks represent partial ownership in a business. The hope is that their value will grow over time and you can earn some dividends along the way. Bonds are loans to businesses that pay interest. They are much less volatile and provide income, but you're not going to see big gains like you may during a bull market in stocks. You can invest simply in stocks and bonds through mutual funds or exchange-traded funds. And by combining the two, you can make your portfolio grow faster or have less risk. Sometimes, it works to follow conventional wisdom while saving for retirement... You've probably heard about the "60/40" allocation for your entire adult life: Put 60% of your investment portfolio in stocks and the other 40% in bonds. In normal market conditions, that traditional allocation works great. The stocks provide growth but greater risk, and they're balanced against the safety of modest, predictable bond yields. But sometimes, this rigid model is a disaster for your retirement... You could spend a lifetime squirreling away your savings in a 60/40 allocation, only to come up short if the markets turn against you just before you retire. That's why [I just unveiled the one strategy that could let you forget the news and retire ahead of schedule in the next few years](... It's a way to position yourself to collect snowballing income streams (as high as 29%) that could pay for ALL your expenses in retirement, with little worry. In a brand-new presentation, I share all the details – [learn more here](. Regards, Dr. David Eifrig April 15, 2023 --------------------------------------------------------------- If someone forwarded you this e-mail and you would like to be added to the Empire Financial Daily e-mail list to receive e-mails like this every weekday, simply [sign up here](. © 2023 Empire Financial Research. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Empire Financial Research, 1125 N. Charles Street, Baltimore, Maryland 21201 [www.empirefinancialresearch.com.]( You received this e-mail because you are subscribed to Empire Financial Daily. [Unsubscribe from all future e-mails](