Strategic Wealth Designers: Allocating your assets

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Protecting your savings is critical to a successful retirement. This becomes increasingly important as you near retirement age and are about to use or using the money you have worked so hard for. Independent financial planner Thomas Reilly of Strategic Wealth Designers joined us on the newscast to discuss why asset allocation is so important to your retirement.

“Asset allocation is how your portfolio is divided among different asset categories,” Reilly says. “Asset categories include stocks, bonds, real estate, hard assets, precious metals, and other safe investments. Your goal with asset allocation is to balance risk and reward relative to your goals and tolerance.”

Typically, when people discuss diversification, they are referring to having a variety of investments. The difference between diversification and asset allocation is the intent and strategy behind the strategies. Diversification is not necessarily a strategized approach to your investments.

“Asset allocation is specific to you and your portfolio,” Reilly says. “Your comfort level will determine the assets you are invested in. As you move from the accumulation phase to the distribution phase, you’ll want your assets to be in a safe strategy because you don’t have time to bounce back from any market downfalls.”

As your income and proximity to retirement change, so will your asset allocation strategy. To see additional stories surrounding business and economic news for Denver area, visit KDVR.com/Money and if you have a question for Thomas send an email to info@swdgroup.com.

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