Financially Sound in 2011

Let Advance Worrying Become Advance Planning

Winston Churchill could have been talking about the past decade in the stock market when he said, “Let our advance worrying become advance thinking and planning.” The practical consequences of another bear market decade should be a call to action rather than a call for retreat. Churchill offers wisdom that acknowledges challenging conditions but provides a solution toward success. His advice encourages investors to seek the benefits of preparation and risk management. These are critical fundamentals for investing through challenging markets toward the next bull market.

You may find yourself extremely unsettled by the ups and downs of the market.  Most people would have thought it was virtually impossible that the world’s largest investment bank, stock brokerage firm, insurance, mortgage and car companies would face bankruptcy.  This became our reality over the past few years!  What a long, strange trip it’s been. It has become increasingly difficult to make educated decisions on what you should do with your money. From television to next-door neighbors to internet chat rooms, everyone seems to have an opinion, but how can you feel confident you are getting the right advice? What can you do to ensure you make the right choices? A comprehensive financial plan may be the answer.

A true plan can help you negotiate the twists and turns on your road to financial independence because your investment strategy is based on your own situation and goals-not what the market is doing at the moment. The crucial first step in creating a financial plan is to know where you are on your financial road map. If your intention was to obtain driving directions to Mt Bachelor, you first need to know where your starting point is as directions from Redmond would be very different than directions from Sunriver.  If you continue doing what you are doing- where will you be at age 60 or 65? A financial plan is simply a guide to help you determine where you are financially, where you want to be, and how to get there.

A retiree today has a relatively long-term horizon, with an average retirement age near sixty and an expected lifespan for the last surviving spouse of almost thirty years. Relatively healthy retirees today can expect one or both spouses to live well past ninety. Whether you are retired now or on the cusp of retirement, your savings has been built over many years of sweat and saving to provide or supplement your income during retirement.

There is no magic solution, no one way to achieve success. Sadly I believe most people’s plan for their financial future is “If we take a late retirement and an early death, we’ll just squeak by.” It is important to start with a reasonable expectation about future returns and market conditions.  Then one can apply appropriate investment strategies and approaches. Early personal planning and ongoing investment discipline can help toward avoiding what has become one of the greatest fears in America; outliving one’s retirement resources. Having a plan in place can offer significant peace of mind and help ensure that your investment decisions are the right ones for you. Markets go up and markets go down, but good planning can help you take control of your finances. The hoped-for reward for all this planning- living the life you have always imagined during your exciting years of financial independence.

David Rosell is President of the Rosell Wealth Management in Bend. He is the President of the City Club of Central Oregon and the Past Chairman of the Bend Chamber of Commerce. David can be reached at 541-385-8831 or

Investment advisory services offered through Rosell Financial Group, a State Registered Investment Advisor.  Securities offered through ValMark Securities, Inc. Member FINRA, SIPC 130 Springside Drive, Ste 300 Akron, Ohio 44333-2431. 800 765-5201. Rosell Financial Group is a separate entity from ValMark Securities, Inc.


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Founded in 1994 by the late Pamela Hulse Andrews, Cascade Business News (CBN) became Central Oregon’s premier business publication. •

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