No matter if you are 20 or 60 years old, it is never too early or too late to start planning for your retirement. While the specific steps to take will depend on your age, there are some general pieces of retirement advice that hold true for anyone trying to prepare for their golden years. To help you get started, GOBankingRates recently turned to Terry Sawchuk, founder and chairman of Sawchuk Wealth, for his retirement planning tips for all ages.
According to Sawchuk, his greatest piece of advice for retirement planning is managing your portfolio’s risk, especially in the current market and macroeconomic environments.
“This is a very important time to manage risk,” Sawchuk tells the publication. “The world has shifted – most people just don’t know it yet. We’ve hit the fourth turning, new world order phase. The low-hanging fruit in the markets has been picked. For not, the most important thing anyone can do is preserve capital. This is risk-off. The most successful investors of all time didn’t make more money in the up markets, they just didn’t lose much in the down markets.”
Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.
Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.