By Daniel Ortega, Head of Retail Sales
For many of us, it feels like COVID -19 has destroyed the retirement puzzle we had assembled and threw all the pieces back on the table in complete disarray.
COVID-19 has forced Americans to accept that a work-life balance is a thing of the past. Our life plans will dynamically evolve, and our retirement planning must adapt along with them.
There is no going back to normal. Millions of Americans have experienced entire industries wiped out, while others are adapting to being teachers, parents, spouses, and employees simultaneously.
Many families find creative ways to stay connected with loved ones, such as working on puzzles and playing board games during the stay-at-home orders.
Which leads me to ask, how are you spending your days?
While working on a 300 piece family photo puzzle could be an excellent way to spend quality time with your loved ones, so is finding additional time to re-work your family’s retirement puzzle.
Let’s use this time to put our retirement puzzle pieces back together!
During The Great Recession of 2008, many Americans lost their jobs. Coincidentally, however, there was a rise in the number of real estate agents in the country during that time.
You can attribute that to many out-of-work Americans seeing an opportunity to be a part of the resurrection of the housing market and the robust real estate workforce we recently experienced.
Fast forward to today, even though we’re all trying to navigate through these difficult times, there are beneficial alternative investment opportunities. So it’s critical to use your free time wisely. I encourage you to use this time to further your education on Self-Directed IRAs. Evaluate the best way to utilize this powerful tool to protect your nest egg against market disturbances and identify which alternative asset strategies can help you gain clarity on your financial picture.
3 Important Things You Can Do During Your Time At Home
Request a current statement from all your financial institutions and update your contact information.
By requesting your statements, you have the most updated picture of your financial landscape. Also, you’re able to confirm that each financial institution has the most accurate contact information to get in contact with you and prevent fraud.
Review your retirement accounts & evaluate new investment opportunities.
Suppose you’ve been recently laid off and had a 401K with your previous employer. In that case, you are eligible to roll those funds into your Vantage Self-Directed IRA. Regaining control of this money allows you to re-direct the funds into opportunities you want while maintaining them in a tax-favored vehicle.
Revisit your financial goals & plans.
Your financial plan is ever-evolving until you finally retire. Therefore, making adjustments for the current market conditions serves you well for proactive investment decisions. You may have to adjust your goals, your risk level of investing, and explore options within the alternative investment marketplace.
Rest assured, we’re available to support you the best way we can. Whether through educational resources, discussing the different alternative options available to you within your Self-Directed IRA, or merely listening. We are committed to helping you invest by design, not default.
Remember, a goal without a plan is just a wish. We will get through this together.
For more information on how you can discover your IRA investing alternatives contact us
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