Ep 67: Are You A Risk Taker? How To See If Your Tolerance for Risk Matches Your Plan

Do you like to take risks? Or would you rather play it safe and steady? When it comes to the market risk can come with great reward, but it can also be damaging if our risk tolerance is out of balance with our plan. Most people don’t realize how much risk they are taking on and have a much lower tolerance than their portfolio reflects. 

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The Game Plan

When the markets are going up everyone feels good and when it goes down a lot of people panic. Why is this? Very often a client’s tolerance for risk doesn’t match their investments. If you’re having a hard time sleeping because you’re stressed about the market, that’s a good sign you need to take on less risk.  

On today’s episode, we’ll break down how risk plays into your retirement plan and what we need to do if it’s out of balance with your needs.

The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[0:50]Do you take risk?

[2:32] – Does your tolerance match your portfolio?

[4:00] – What should you do?

[5:03] – Ask your self how you’re going to feel

[6:07] – Why do you think we are set up this way?

[7:12] – You might not be de-risking as much as you think

[8:32] – What options do we have?

[10:40] – What’s the first step?

 

“They don’t think about how much risk they’re taking because they’re young… I think they do a set it and forget it type thing.”

 

– Dale Tondryk

More To Explore

Ep 73: Getting it Right: Irreversible Financial Decisions

There are plenty of decisions that you’ll make in the retirement planning process that can’t be undone, so you want to make sure that you make the right call. In this episode, we’ll explain why these decisions are so important and can’t be undone.

Ep 72: Can’t Get No Satisfaction… Or Can You?

Want to know the secrets to experiencing satisfaction in retirement? We’ve discovered five key situations in which your financial plan needs to lead you. If you can key in on these five points, you’ll have a high chance to achieve retirement satisfaction.

Ep 71: Going Against the Grain to Achieve Your Retirement Goals

Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation. On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the grain with mainstream ideas in the industry.

QUESTIONS FOR DALE?

MORE WAYS TO GET IN TOUCH

952-401-1671

dale@tondrykfinancial.com