Reading Time: 2 minutes
Beware: Avalanches Lie Ahead- Retirement Income Planning is Vital
Everest is approximately 29,029 feet, and above 26,000 is known as the “death zone.” Sudden weather changes and avalanches are common. Bad weather and overcrowding can create very short windows of opportunity to summit, and climbers race to finish when caution is more advisable. Many things can cause deaths on these climbs but poor physical conditioning and crowded conditions are prominent. Some climbers wait 24 hours at a lower altitude to better acclimate to the climate and also have extra oxygen brought up. Those who are impatient put themselves in danger. The phrase, “Haste makes waste” comes to mind. The bottom line…extreme mental and physical endurance are necessary to climb Mt. Everest successfully.
When it comes to investing, avalanches are the unforeseen crises or bear markets that come out of the blue. When a crisis hits, many people want to abandon their portfolio because they didn’t have a plan in place. During such crises, having a sherpa can help. Sherpas are the indispensable native guides successful climbers use. Their special knowledge and experience save lives every year. During those bear markets, the right thing may be to not react, rebalance your diversified portfolio, stay on the path to your goals, and maintain your commitment to follow your sherpa.
Adrian Ballinger of Alpenglow Expeditions says “meticulous preparation” is necessary. He is one of approximately 100 successful climbers who have done so without oxygen. It took him several years preparing, and the attempt almost cost him his life. He says if Everest was 15 feet higher, he would have likely failed.
If professionals can barely make it to the top, what chance would amateur or basic climbers even have?
As retirement sherpas, we believe that meticulous preparation is vital for a successful retirement. As your guides, we provide planning strategies and recommendations to help ensure you are mentally, socially, and financially prepared for a smooth and successful spend-down phase of your life.
