In your Fifties
30/04/2024
Federal Budget 2024
15/05/2024
Now that you’re in your sixties and have potentially retired, you should switch your investing strategy from growth to defensive, right?
Not necessarily.
Someone in their sixties hopefully has another 30 years to live, meaning several decades of compounding returns may lie ahead. So if you suddenly move all your money to low-growth investments, you could miss out on enormous returns – potentially more than $1 million if you add it all up.
That said, it’s prudent to review what’s right for you when you’re nearing retirement because it can be harder to recover from large drawdowns at that stage of your life.
As always, there’s no one-size-fits-all strategy for investing – it all depends on your personal circumstances. The key is to retain an open mind rather than assuming you must invest a certain way because you’ve reached a certain age.
Not sure what’s right for you? Let’s discuss to find out.
This is general advice only. Please speak to a licensed professional for personal advice related to your specific situation. If you want expert advice on achieving your goals, speak to Affinity Private Advisors today by calling 1300 769 304, emailing enquiries@affinityprivate.com.au or filling in this online form.
The information contained in this article is current as at 23/04/2024. Any advice or information contained in this report is limited to General Advice for Wholesale clients only.
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