Just about everyone who had money in the stock market has experienced a precipitous drop in their net worth over the past couple years. Whether their portfolio was hit hard by failing tech stocks or corporate scandal, the end result is the same: less money, both for the near term and the future.
These events have hit retirees, and those close to retirement, especially hard. They are being forced to sell stocks when markets are down to get money to live on. The situation is forcing many seniors back to work and causing others to delay their retirement plans altogether.
“We have an entire generation of retirees in deep trouble,” says financial educator Paul Grangaard. “I think it’s a shame that on the heels of one of the greatest bull markets this country has ever seen, so many seniors are having to scuttle their retirement plans. It didn’t have to be this way.” So he decided, after training financial professionals for many years, that it was time to take his investment message directly to consumers. The result is his new book, “The Grangaard Strategy (TM) — Invest Right During Retirement.”
In the book, Grangaard illustrates Twelve Principles of Twenty-First-Century Retirement Investing that show readers how to manage their retirement assets safely and effectively and protect themselves from the devastating consequences of what he calls “dollar price erosion,” or having to sell stocks when markets are down. Grangaard points out that most people don’t realize that managing money during retirement (while they are spending it) is very different than managing money before retirement (while they are accumulating it) — and having to sell stocks out of fluctuating accounts is one of the biggest challenges they face in retirement.