Discover the tips and strategies that will help you achieve your retirement goals.

I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.

It all starts right here of Ready for Retirement. I'm

your host, James Knoll. I often get the question, as I'm talking to people about their

retirement planning and their portfolio. People want to know how soon before retirement

should they begin making adjustments to their portfolio. You know, know how soon before retirement should they begin

make an adjustment to their portfolio? You know, we know that when we're younger, we can afford

to invest a little bit more aggressively. And then the approach is as you get closer to retirement,

you gradually start to make your portfolio more conservative as you get closer and closer to living

on that money as opposed to saving to your portfolio. So the question for today,

the topic of today's episode is how soon before retiring should you begin to adjust your portfolio?

So we're going to look at this from two standpoint. Number one, we're going to just look at it

from a statistical standpoint. Look at real numbers and see when does it make sense based upon the

numbers or what the statistics might show to begin adjusting your portfolio. But then looking at a practical example, because statistics are great, history is

great, the numbers are great, but how does that actually get applied to a real life situation?

And so we'll walk through some of this. So let's start with the statistics part and what the

numbers tell us. And then we'll look at an example to see how do we actually apply that.

So let's start with the fundamentals. Number one, you invest in stocks because you're investing

in real companies with real earnings. And if you invest in a large number of these companies,

then history has shown us that you can build a lot of wealth over time. So if you're younger,

if you're saving your portfolio, the goal is to grow that money, grow your wealth as much as possible, and you do so by owning stocks. Now, the downside to this is stocks don't

always go up. Over time, they certainly do, but they don't go up every single day. And to state

...