If you have a diverse portfolio then you will have financial freedom. Well this isn’t exactly as easy as it sounds. Many people believe that they have a very diverse portfolio but the diversity that I am talking about is quite a bit different than the kind of diversity that your stock broker is probably telling you about. The diversity that they are probably talking about would be spreading your money into different types of industries to limit loss in your whole portfolio if any of those industries were to have major loss.
But that isn’t quite what I was talking about I am talking about diversity in the different types of investments you can place your money into instead of putting it all into stocks or bonds.
If you place all of your money in one type of investment you lose freedom. By this I mean that you are tied to the downsides of that particular investment type, for instance, if all of your money is in the market then your freedom is restricted by worry and if there was to be a mishap in the market well then your freedom becomes limited financially.
If you’re someone who doesn’t like risk at all, putting all of your money in annuities is also limiting your freedom. By putting all of your assets into annuities you subjugate yourself to the policies these companies have which limit your ability to control your money. You need to be the one who owns and directs your retirement, rather than buying a cookie cutter plan from someone else.
That’s exactly why my clients come to me, for freedom. My clients each have a diverse and individual plan that has given them full control of their retirement. Each plan is just as diverse as the client I designed them for, made to provide the best possible solution to each of my clients not just for all of my clients as a whole. Diversity is a necessary part of your retirement if you’re planning on living it the way that you want to, not the way someone else designed it. Do not hesitate to call me to make sure that your retirement is working for you and not the other way around.