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Featured Advisor



Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management

City:Northbrook

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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Are You Confident about Your Retirement Preparedness?

Running out of money in retirement is the biggest financial fear of most investors, and not saving enough for retirement the biggest financial regret,  

| BY Donalld Liebenson


Running out of money in retirement is the biggest financial fear of most investors, and not saving enough for retirement the biggest financial regret, Spectrem Group research finds. Participating in an employer-sponsored retirement plan, such as a 401(k),is a common strategy to help give people more peace of mind about saving for a secure financial future.

But despite participating in their 401(k) plan, not everyone shares the same confidence in their retirement preparedness, a study of retirement plan participants finds. Older plan participants indicate a more pessimistic retirement outlook than do their younger counterparts. This may be because they are closer to their actual retirement deadline than Millennials and Gen Xers

Overall, a majority of  plan participants reports that their financial situation today is better than it was one year ago (58 percent) and that they expect it to be stronger one year from now than at present (68 percent).   But a generational divide emerges on this question. Baby Boomers and World War II generation investors are not as likely as Millennials and Gen Xers to report that their financial situation is better today than it was one year ago, while Millennials are much more likely than Gen Xers, Baby Boomers and World War II-era investors to forecast a better personal financial situation one year from now than at present.

Almost six-in-ten of Millennial and Baby Boomers who participate in a retirement plan cite being able to retire when they want is a primary personal concern. It is of heightened concern to Gen Xers (70 percent), and while roughly two-thirds of Millennial investors fully expect to have sufficient income to live comfortably during retirement, less than half of Gen Xers and Baby Boomers (39 percent and 46 percent, respectively) share their rosy outlook.

This may be related in part to the 2008 economic collapse and the devastating toll it took on millions of Americans’ savings. Gen Xers were hit hardest of all, according to a Pew Research study that reported they lost almost half of their wealth when the stock market plummeted. 

“One of the tenets of the American Dream is being able to retire on one’s own terms and that the children of the family will be better off when they reach their parents age,” observes Spectrem Group President George H. Walper, Jr. “Older DC plan participants are not as confident about their financial futures.”

Takeaways for Investors 


·         As with Social Security or pension benefits, delay tapping in to your retirement accounts for as long as possible. Consult with a financial advisor about setting a withdrawal strategy that will not deplete your funds too quickly.

·         It’s never too early to start saving for retirement, but sometimes it can seem like it’s too late. Remember the adage, “Better late than never.” If you are at least 50 years-old before year’s end, there are “catch-up” strategies you can employ to grow your retirement nest egg. For example, you can contribute an additional amount up to $1,000 to an IRA on top of the allowable yearly contribution of $5,500. Similarly, if you participate in a retirement plan at work, you may allowed to make contributions above the limits that apply to participants who are younger than 50 by the end of the year.

·         Whether you are a self-directed investor who makes all of your own investment decisions or work with a financial advisor, you should reassess your retirement nest egg’s asset allocation.

·          Review your budget or financial plan to determine whether your savings projections are on track or if you are engaging in excessive spending.  

·          If you haven’t already, consider talking to a financial advisor to assist you in developing a long-term plan.

 ©2016 Spectrem Group