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If you have passed the finish line, why not stop running? Crossing the finish line is the most anticipated part in any race. When crossing the finish line, we slow down, stop and reflect on the race we just finished. The retirement finish line is the number we need saved in our accounts to enjoy the next phase of life.

An important part of that life phase is your peace of mind. That comes when there is no more concern about losing our principal and having a guaranteed source of income for life. Retirement shouldn't be about worry or concern that our money won't be there when we need it.

How do you know if you've saved enough for retirement so you don't keep running the "risk" race anymore? Many people keep so much risk in their finances that it's as if they're still running the race, yet they passed the finish line years ago. If you've saved enough money that earning any more would not significantly change your quality of life, maybe it's time to reduce risk. Retirees should ask themselves two critical questions: Would I live differently if my money doubled? What would happen if I lost half? Most people answer "no" to the first question but an emphatic "yes" to the second because the fear of losing money is greater than making more once they've achieved their goal, or as we say, "won the race."

When your main source of income shifts from your job to your retirement accounts, then maybe you've finished the race and it's time to consider having your money in a safer place without risk of loss from the stock market.
Arif M. Halaby, CEP is President/CEO of Total Financial Solutions, Inc., a financial and insurance services company based in Santa Clarita with offices extending to the San Fernando and Antelope Valleys. 753-9683 CA insurance license #0B93792