Why a Portfolio is Not a Plan

Why a Portfolio is Not a Plan

How effective is a portfolio that isn’t working in conjunction with a plan? If you’re just looking at the numbers in your accounts but not considering how that’s complimenting the other pieces to your plan, it’s not much more than speculation. This week we discuss why having a collection of financial products isn’t the same as having a plan.

The View From The Pinnacle

Why a Portfolio is Not a Plan

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Click the timestamps below to fast forward to certain points of the episode.

Thing’s You’ll Learn Along Today’s Journey

So you’ve built up a pretty nice retirement portfolio. Years of saving and investing generated nice growth and has you feeling pretty good about where you are in terms of retirement. But is that enough?

If you’ve constructed your portfolio without a plan, you might not be as far along as you think. Doing this really doesn’t have a goal other than to beat other people’s portfolios. While that can feel nice, it doesn’t help you get to a position that fits your needs in retirement.

Today on the Retirement Elevated podcast, Sean Lee will explain the importance of having a holistic plan and an advisor to keep you on track with your decision-making. Having someone to help manage your plan can add significant value, which Sean will explain with three reasons. On the flip side, a financial advisor can’t do everything and we’ll tell you three things that they aren’t able to help you with.

If you haven’t taken a step back and examined your entire financial plan, we hope this episode will give you the motivation to do that now.

You can listen to the entire podcast above or click on the timestamps below to check out a specific item.

0:28 – Who is Sean pulling for in the World Series?

1:27 – What do we mean by ‘portfolio is not a plan’?

3:00 – You need a gameplan going into and having someone to help you with that is crucial.

4:46 – An advisor add significant value to a portfolio or a plan in three ways.

7:30 – What about some of the things that an advisor CAN’T do?

9:44 – When looking at planning, look at it from a holistic perspective.

Looking Back From The Mountaintop

A portfolio that isn’t in service to a plan is just a form of speculation. It can really have no other goal other than to beat somebody else’s portfolio. -Sean Lee

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MEET YOUR HOST...

For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

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slee@erg-slc.com

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