Hello,

One of my favorite pastimes is riding bicycles. I spent countless hours riding around the neighborhood when I was a kid, and when ball sports were no longer an option, I started riding bicycles again.

Back in my 20s it was a lot easier to go on a two-hour bike ride or spend most of Saturday morning on Blue Ridge Parkway riding. One of the biggest risks I had on a long ride was that I didn’t eat enough beforehand or I didn’t bring enough food or water with me. I was a little more adventurous back then too, and sometimes I’d start riding without a clear plan of where I was going. Six-year-old me is pictured below getting a bike for my birthday!
David on his 6th birthday
I might find myself further away from home with little to no food or hydration left. It worked out if I could find a gas station to buy something at but I ran the risk of bonking or hitting a wall. Typically speaking it’s a depletion of glycogen in your body. It’s the most lifeless I’ve ever felt. When you’re in the middle of nowhere on a bicycle, you really don’t want this to happen.
 
In the picture below, the only thing Ansley was worried about was running out of bean dip.
Ansley eating bean dip
Another place we don’t want to be is in retirement and running out of money. In a recent survey of 2,700 people, a third of millionaires stated that they feared running out of money in retirement, and “forty-seven percent said they needed to improve their financial planning.”
 
From the article, “While $1 million was once considered a retirement benchmark, amid rampant inflation and rising interest rates, the amount needed to retire is increasing. The majority thought they would need $1.27 million to comfortably retire, and some 43 percent feared they would outlive their savings.”

Amelia's school had a week where they learned about fairy tales. On the last day they could dress up as a character. She was a fairy.
Amelia the ferry
It can be hard to understand in volatile markets like we have had lately but the number one way to try to ensure that we will be able to maintain our standard of living in retirement is to have some of our funds allocated to the stock market. Historically the market has allowed us to protect our purchasing power over time. So, our funds grow with the overall economy.

Ansley got a good dose of southern hospitality. When you leave our house she insists on following you out the door and waving as you drive away. It kind of makes you feel nice.
Ansley outside
Recently, the S&P 500 has begun to draw back some of its gains from this year. When times like these happen it’s easy to become fearful and draw back. The goal should be to have buckets of money that are working in different ways so that when markets shift and become volatile, we have different financial tools working for us.
 
If your outlook is feeling dim, please remember that there’s always light at the end of the tunnel. It may make sense to reassess your financial plan if you haven’t recently. As we grow closer to our eventual retirement date it makes sense to hone in what you are projected to be able to create in retirement income. More information may go a long way toward creating more peace of mind.

Until next week,

David C. Treece,
Financial Planner
864.641.7955

PS: Have you ever wanted to learn all about Medicare? On October 12th at 6:30 you'll have your opportunity to discover all your options at our complimentary workshop at Wofford College. Click here to register.
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Clients Excel, LLC is an independent financial services firm that utilizes a variety of investment and insurance products. Investment advisory services offered only by duly registered individuals through Creative One Wealth. Creative One Wealth and Clients Excel, LLC are not affiliated companies. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified tax professional for guidance before making any purchasing decisions. Clients Excel, LLC is not affiliated with or endorsed by the U.S. Government or any governmental agency. Clients Excel, LLC has a strategic partnership with tax professionals and attorneys who can provide tax and/or legal advice.