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Home > Blog > Estate Planning > Most Of Your Retirement Investments, But Not All Of Them, Should Be Boring

Most Of Your Retirement Investments, But Not All Of Them, Should Be Boring


The goals of everyone’s estate plan are essentially the same, namely to ensure that the retirees making the plan will be able to pay for medical care in their old age, to reduce unnecessary tax liabilities in life and during probate, and to prevent family disputes among family members over end-of-life care and inheritance.  How you pay for these necessities and prevent these problems is up to you.  Estate planning lawyers will quickly figure out, by the end of a few meetings, which of your hopes and fears to focus on to motivate you to work out all the details of your estate plan.  For example, some people enjoy the element of surprise in investing, while others would do anything to avoid it.  A Bronx estate planning lawyer can help you build an estate plan that is right for you, no matter your financial values.

Estate Planning for People Who Enjoy the Gamification of Investing

Retirement is a letdown for a lot of people.  Some miss socializing with their coworkers at work every day, while others miss the sense of purpose they derive from practicing a profession in which they make a measurable positive impact on other people’s lives.  For some people, the biggest disappointment about retirement is that they no longer have employment income that they can use for exciting investments that may or may not pay off.

If adventuresome investing is your hobby, you do not necessarily have to turn away from it as soon as you retire.  You just need to diversify your investments so that they include a variety of risk categories.  The investments with the lowest risk should be the ones you plan to tap into the soonest.  This is known as the time segmentation approach.

Do You Care More About Maximizing the Value of Your Estate or Remaining Financially Independent in Your Old Age?

Almost all retirees who have children want to create generational wealth, but reasonable minds can disagree about the best way to do this.  If your goal is to leave as big an inheritance as possible, focus on placing your money in non-probate assets such as revocable trusts.  Even if you cannot do that, then every penny that your children do not have to spend paying for your care or taking time off of work to help you with personal care, transportation, or other needs is a penny they can keep for themselves and their descendants.  Maximizing your guaranteed income can help you ensure that you will not need to depend on your children financially; you can do this through hybrid life insurance policies and annuities.

Schedule a Confidential Consultation With a Bronx Estate Planning Attorney

An estate planning lawyer can help you focus as much or as little as you want to on getting a return on your investment with your estate plan.  Contact Cavallo & Cavallo in the Bronx, New York to set up a consultation.



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