The Connections Bridgewater-Somerville June-2019

theconnectionsnj.com ©2018 Service Experts, Service Experts Heating & Air Conditioning, and the Service Experts logo and design are registered trademarks of Service Experts LLC and used under license by SE Canada Inc. Offer cannot be combined with other offers. Some restrictions apply. Call for details. License #: 5034Plu 908-526-1155 FrasAir.com Servicing your area since 1967 Ask us about our Service Experts Advantage Program™ where you can get a new Heating System with no money down for as little as $59 per month. • Air Conditioning • Electric • Heating • Plumbing • Indoor Air Quality • Attic Insulation • Duct Cleaning • Service & Maintenance Agreements INVESTING FOR YOUR LATER YEARS? THINK ASSET PRESERVATION BUT DON'T FORGET GROWTH By: Ryan P. Woodring, CFP ® Heritage Investment Partners, LLP After years of investing for retirement and other goals, you may have accumulated a sub- stantial portfolio. If you’re approaching or already enjoying retirement, there are important steps that you can take to help ensure that your investment plan – and your nest egg – is on track for your Golden Years. Reassess your income needs and portfolio, a few years before a planned retirement. It’s important to know where your money will come from and how much you’ll need. It’s num- ber crunching time. Figure out how much income you will receive from Social Security, a pension plan and personal sav- ings and investments. Weigh your anticipated income against your estimated living expenses; be sure to pad your estimate to account for unexpected events or market drops. Do the two match up? If not, review your portfolio with a qualified finan- cial professional. Hedge against inflation – Your investment focus will probably shift from growth to income in your later years. Naturally, you want to help protect your nest egg from market volatility. But that doesn’t mean moving your portfolio’s entire stock allocation into less risky holdings – like bonds and cash. People are liv- ing longer, increasing the risk that some will outlive their money. You may want to gradu- ally shift some stock investments into more liquid, income-orient- ed investments. However, it may be important to keep part of your portfolio in growth-orient- ed investments – stocks and stock funds – to give your port- folio the potential to outpace inflation. Protect what you’ve achieved – a solid financial plan also includes estate planning to help preserve assets for your heirs. “I’m all set,” you say. “I’ve drawn up a will.” A comprehen- sive and effective estate plan often involves a variety of tools in addition to wills, including trusts and different types of insurance. Talk with an attorney about your specific needs. After a lifetime of investing, make sure that your financial plan is on target in your later years. Annual reviews of your portfolio with a qualified financial profes- sional can help you pursue your objectives and spot potential problems before they occur. Investing involves risks including possible loss of principal. No investment strategy or risk man- agement technique can guaran- tee return or eliminate risk in all market environments. Content for this material is for general information only and not intended to provide specific advice or recommendations for any individual. Securities and advisory services offered through LPL Financial, Member FINRA/ SIPC. Financial Planning offered through Heritage Investment Partners, LLP – A Registered Investment Advisor and separate entity from LPL Financial JOHN P. LAWSON CONSTRUCTION, LLC Building & Framing Specialists Residential & Commercial Fully Insured Phone: 908.526.2846 Cell: 908.625.8650 Complete Home Improvement Custom Homes • Framing • Windows Additions • Doors • Add-A-Levels Basements • Decks • Roofing • Siding Raritan, New Jersey HIC #13VH02613900 home & design PAGE 22