Financial Literacy in Context of What We Do
I was in my car this morning listening to talk radio on my way to the grocery store. Ric Edelman, a nationally syndicated financial advisor was talking about restructuring Social Security and the impact this will have on how he recommends structuring portfolios. The point he was making was that Social Security is a common baseline for everyone (in retirement) that he builds upon in projecting future needs. Surprisingly, the average monthly check is only around $1700. In the context of generating monthly income - if your investment portfolio of resources are not significant - what strategies are there if you have not "saved" or planned for additional sources of income that will grow (and/or) at the minimum, sustain your lifestyle? What we do is one answer. - one viable alternative. All investment strategies are tied to the amount of risk you are willing to take. Obviously, the greater the risk, the greater the reward. Younger people are advised to b...