RETIREMENT PLANNING & THE GRAND TETON

As you progress through the different phases of your financial climb into and through retirement, the landscape changes. Early in the climb, the work of shouldering a heavy load up a steep hiking trail under the shadow of the summit is an arduous but necessary task. In the same way, the discipline of consistent and substantial saving throughout your professional career is an arduous but necessary sacrifice on the route to your financial summit.

As you chip away at your goal of reaching the summit, your footing is critically important. Even prior to the more vertical terrain, a single misplaced step on a loose rock can mean a huge setback, or worse! Likewise, it is critical to employ a strategy aimed at protecting your retirement savings from excessive volatility and market crashes.

The challenges of climbing the Grand Teton are many and varied. They range from cardio endurance and technical climbing to route finding and anchor-building skills. Although you may have excellent endurance, it’s not safe to be in vertical terrain high on the Grand without a guide, unless you possess route-finding and technical climbing skills.

This is analogous to someone who has succeeded in accumulating retirement funds but isn’t necessarily equipped to build and execute a comprehensive plan for the protection of and optimal distribution of those funds - minimizing financial threats in retirement.

There are several different tools and concepts that come into play when building a comprehensive retirement plan. They include not only investment management but also optimization of the vehicles in which they are held, not to mention a clear understanding estate planning and risk management. Some of the risks include the possibility of sky-rocketing taxes and unexpected illness or death.

Needless to say, having an experienced guide with the credentials to build and execute a comprehensive, synergistic financial plan is the best way to get to your financial summit. I would recommend working with a Certified Financial Planner? to ensure that your planner has been rigorously educated in all the various aspects of personal wealth management. You can visit www.cfp.net and click on “Find a CFP? Professional” to locate one in your area.

Bill Overton, CFP? is a long-time Idaho resident with a wife and 3 mostly grown kids. He loves the Sawtooth mountains and making new friends. Bill is very invested in the local community and connected with several non-profit organizations. He also led a friend to the summit of the Grand Teton (13,770’) via the Upper Exum Route (Grade III, 5.7) in September of 2008.