Life is uncertain, and that uncertainty for most people especially applies to managing their personal financial affairs. Some investors find themselves overwhelmed with information and conflicting advice. Others don't have the time or interest to manage their personal assets and liabilities in a disciplined manner.

Take planning for retirement, your children's or grandchildren's education, and other major financial goals in your life. How much is enough?

When calculating how much you might need to accumulate to generate the appropriate amount of cash flow for the future, you should consider a reasonable rate of compounded growth, as well as principal erosion through taxes and inflation. And managing your financial affairs also includes staying current with the impact of changing market conditions. Not many people have the knowledge or the time to do this on their own.

Traditional investment planning creates an illusion of stability. But nothing happens every year exactly as planned. Goals change with your station in life - and financial and market conditions are constantly changing as well.

And what about drawing down your wealth once it's accumulated? How much can you withdraw each month and not run out of money before your death? This will depend on, among other factors, your investment returns, the inflation rate, changes in your health or marital status, and whether you live beyond your life expectancy.

When you do a thoughtful inventory of important financial goals and assign priorities to them, today's statistical modeling can provide a more accurate picture of a financial strategy than the straight-line models of the past. But it doesn't guarantee results. Through periodic reviews of your goals and the performance of your investments, you can assess how your actual investing and spending patterns affect your probability of success. With this information, you can make changes as needed to keep your plan on track toward your own personal definition of financial success. There's no substitute for common sense, a realistic overall plan that prepares for the uncertainties along the way, and sound financial advice from someone you can trust.
Provided by Michael Oana
Chief Investment Officer
michaeloana@teamoana.com
803.343.3343

Team Oana Investment Advisors, Inc., is an independent company with securities offered through Summit Brokerage Services, Inc. Member FINRA & SIPC.