When planning for retirement, the uncertainty of investing can be overwhelming. However, you do have control over three critical aspects of your retirement plan. In this video, we'll explore these key elements that can empower you to worry less and enhance your chances of a successful retirement.

1. Control Your Taxes:

You can manage your taxes, a crucial aspect of retirement planning. Unexpected taxable income can be frustrating, but it often arises from investments generating interest or unexpected capital gains. You might also be invested in portfolios better suited for tax-deferred accounts.

Consider tax-efficient strategies, such as choosing exchange-traded funds (ETFs) over mutual funds. Efficient tax management ensures your investments can grow without unnecessary hindrances.

2. Control Your Fees:

Fees can silently erode your retirement savings. The expense ratio, often unnoticed, represents intermediary costs within a fund. You could be paying 0.65% for something available for as little as 0.05%.

Seek lower-cost funds or opt for individual stocks with zero internal expenses to preserve more of your earnings. Reducing expenses can significantly impact your long-term returns.

3. Manage Your Risk:

Understanding and managing risk is pivotal for a worry-free retirement. Traditional terms like conservative or aggressive often lack clarity. Some financial advisors use an easier system to relate to. Instead, use a risk number system from 1 to 99 to assess your risk tolerance.

Match your personal risk number with the risk associated with your investments to gain insight into potential portfolio fluctuations. Avoid taking excessive risks when lower-risk options align with your goals.

While numerous factors in retirement planning are beyond your control, these three elements lie within your reach. By managing your taxes, fees, and risk, you can take proactive steps toward securing your financial future. Investing need not be a source of worry. Seize control of what you can and set the stage for a more confident and secure retirement.



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Our team of financial planners in Frisco, Texas, is here to assist you in crafting your retirement plan and addressing your other financial planning needs. Discover more about our firm's expertise and commitment to serving clients throughout the Dallas/Ft Worth area here. We've already helped hundreds, and we're eager to help you too.