7 – Investing And Day-To-Day Management

Topic 6 advises determining an inflation-adjusted, after-tax income
you cannot outlive. The tricky part is now to invest your portfolio
so as to ensure that income.

Good portfolio management requires day-to-day attention to
bill-paying, budget review, tax reporting—a myriad of activities that
can get more challenging as you age. (The first sign of cognitive decline
usually occurs when making financial transactions.)


Portfolio management
  • Utilize software tools to track your investments regardless of type or custodian
  • “Guarantee” income by identifying specific accounts and/or assets which will generate your income in each of the next 10 years income needed in years 11 and on might need the inflation hedge of stocks
  • What is portfolio’s asset allocation?
  • Are return assumptions realistic and conservative?
  • Can you accept the projected investment risk?
  • Can you articulate to others the investment strategy being pursued?
  • Assess your capacity to self-manage your account vs. using an advisor
  • Will a surviving spouse or partner have the same capacity?
Financial administration
  • Regular portfolio review
  • Is performance consistent with long-term budgets?
  • Utilize tools to track future expenses vs. a budget
  • Bill-paying
  • Tax matters
Routinely gauge your capacity to undertake financial matters and seek help if it gets challenging
  • Know the senior-specific policies of your financial advisor and custodians of your accounts
Do your investments reflect your philosophical beliefs regarding the environment and social governance?