People’s retirement needs vary greatly, but everyone will have basic expenses of home maintenance or rent, transportation, medical care, and living expenses. Many hope to be able to travel, eat out and make big ticket purchases during retirement. In order to pay for life during retirement and maybe have some fun along the way, you will need a source of income. You can set money aside now, and allow that money to grow in order to reach your retirement goals. Investments that are specifically designed for retirement savings come with tax benefits when compared to general investments. An employer-sponsored retirement investment plan like a 401(k), the federal government’s Thrift Savings Plan or a 403(b) can be one of the most critical elements in your retirement savings picture. In many cases they are the primary, if not the only, means an individual has to use during retirement.

Here is a list of do’s and don’ts during retirement planning in Seneca:


  1. Regularly review the performance and management of all your plan investment options. Look for consistent performance compared with other funds that have similar investment strategies. Consider picking funds that have outperformed their peers for five years.
  2. Pay special attention to new funds added to your portfolio. New funds are often placed in 401(k) plans to replace under-performing funds.
  3. Adjust your portfolio so your investment allocations match your desired level of risk. An investment allocation refers to the way you divide your assets across different investment types. Set your investment allocation to correspond with the degree of risk you are comfortable with.
  4. Match up your current and future contribution percentages. Many investors are tempted to set their future contributions differently than their current savings. This will likely alter the allocation and result in a higher or lower level of risk than intended.
  5. Take the time to educate yourself about how to invest for retirement. Make an appointment with us and let our advisors help you determine your financial future with expert advice.


  1. Put all your money into funds that gave you the biggest return last year. Chasing returns is one of the biggest mistakes an investor can make.
  2. Try to act like a professional day-trader with your retirement savings. Day-traders are professional investors who watch their investments constantly and make trades several times per day in order to profit from specific stocks.
  3. Over-invest in your company stock.Many 401(k) investors are over-invested in company stock, one of the riskiest investments in a 401 (k) plan.
  4. Completely avoid risk! Sticking everything in a money market fund guarantees you will not fully participate in any growth the stock market experiences.
  5. Hesitate to change your investments. If the ups and downs of your current investments are creating high levels of stress, reduce the level of risk in your investments.

Make an appointment for your complimentary consultation today. Our financial experts are here to help you secure your future during retirement. We are the trusted professionals when it comes to developing a strategy that will benefit you and your financial well-being.