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The MOST Important Aspect of Retirement Planning

Wally Smith:

“What I always come back to is liquidity out of whether you’re pretty much at any age, but liquidity is the single most important thing. Certainly in real estate, what’s the most important thing Erin?”

Erin Crowley:

“Location.”

Wally Smith:

“Location, location, location. And in retirement and financial business, the most important thing is cash. It is liquidity. Having the money. The people who get hurt when the market crashes, whether it’s the stock market or the real estate market, it’s those who don’t have the liquidity, then they’re forced to lock in that loss and to sell. Also the ones who do the best when opportunity comes along are those who have the liquidity to take advantage of it.

So as a retirement planning company, as a financial planning company, that is something we just harp on all the time is to maintain enough liquidity. I generally ask people how much they think they need in liquidity… and then I double it, whatever they think it is.”