No Investment Plan? Not a Good Idea!

Published on November 7, 2013

highlighted results of a small study done by Nationwide Funds. Nationwide polled 783 potential investors who have a minimum of $100,000 in investible assets—no chump change there. The responses revealed a startling matter: one fourth of potential investors don’t have a financial plan and almost half of that group (40 percent) doesn’t plan on developing one.

They’re just not into it. Some feel retirement is too far away to think about, others are getting their financial information elsewhere.

This is not wise. If you are in this situation, get thee to a financial professional!

In today’s volatile world, where Social Security is no longer a given and lifelong employment is not always available to everyone, people need to take control of their finances, work out a sound plan that meets their needs and goals . . .  and open a retirement account to start investing for their futures. It is not going to happen by itself.

There is some good news about investors and savings. Overall savings rates have increased in the post-crisis years among investors, as more people have endured big downturns in their accounts’ balances, and are concerned about paying for their future health care, children’s education, and their retirement lifestyle. Although many Americans are still skittish about market volatility caused by the country’s lingering economic woes, government shutdown, global political strife, and debt ceiling debates, savvy investors who are knowledgeable about alternative and traditional assets, and want to make their own investment decisions, can open a self-directed retirement account. Through self-direction, they can start building up their retirement savings without all the ups and downs of the stock market because of the broad array of assets these account allow—at any stage of their work life and at any age.

That being said, at Next Generation Trust Services, we believe experts in their fields can provide insights and knowledge that others cannot; financial planners, tax professionals, and other financial advisers can help investors devise an investment road map that makes sense for their income, lifestyle, and current and future needs. So go ahead and make that appointment with a trusted adviser . . . then open a self-directed retirement account at Next Generation. Our staff professionals will answer any questions about self-direction as a retirement strategy, assist with getting a self-directed IRA open, and explain the many options and benefits that self-direction offers.

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