When to unlock assets
via Capital Magazine | March 31, 2011
Most baby boomers have spent life accumulating assets, building our careers, raising our families or growing our businesses and letting one day follow another. For many it’s now time to step back from the accumulation phase – it’s time to unlock that capital and put it to use.
In the past, this process was simpler. The model was to accumulate as much as possible then stop what you were doing and promptly die, leaving a legacy. Up until the 1950s the retirement age was 65, but the average age of death was 68! These days, it’s reasonable for financial planners to assume their clients will live until they’re 95.
It is usually unsettling to have to change from doing something we’re good at to doing something that is necessary but new. How do you decide when and how to unlock your accumulated assets so that you can live the life you want?
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