Retirement Asset Management: Top 10 Tips

Are you ready to master the retirement asset management process? Learn how to manage your investments yourself with tips from Curio Wealth.

Retirement planning is a big step, and it looks different for everyone. If you’re considering the do-it-yourself approach to retirement asset management, you first need to understand the various stages of the process so you can tackle it like an expert.

In this article, we’ll share our top 10 retirement asset management tips to help you start off on the right foot. (And remember, we’re here to help if you need it!)

How To Manage Your Investments Yourself: 10 Tips

1. Start early.

The sooner you begin retirement planning, the more time you have for your investment returns to compound. This means you’ll earn returns (interest, dividends, and capital appreciation) on the returns you’ve already accumulated, which can greatly increase your wealth in the long term. In contrast, the later you start the retirement asset management process, the more money you’ll need to save to ensure you’ll have enough to retire.

The U.S. Securities and Exchange Commission’s Compound Interest Calculator is a helpful tool to see how much your wealth can grow over a given time period. You might be surprised to know that if you saved just $200 a month over 30 years and earned 7% compounded, your wealth could amount to $226,709 at the end of that 30 years. Alternatively, if you waited 10 years longer to start investing the same $200 a month, you’d have $98,389.

2. Define your goals.

Goals help guide plans to fruition, and retirement asset management is no different. Whether your objective is to retire early or to grow your wealth for future generations, it’s essential to outline your goals so that you can craft the right plan to help you achieve them.

3. Gather information from multiple sources.

There’s no shortage of information about retirement asset management available online. Some of our favorite go-to sources include and In your research, you’ll likely come across many articles with different points of view. The key is to sift through the noise, analyze the information, and apply it to your specific financial situation.

4. Save money in the right retirement accounts.

Once you’ve defined your goals and gathered information on how to manage your investments yourself, you can start saving money in a variety of retirement accounts such as Individual Retirement Accounts (IRAs), Roth IRAs, and Employer-Sponsored Plans that will help you grow your wealth by shrinking your tax bill. Picking the right accounts for your personal situation will give you the most bang for your buck.

Ensure you understand the differences between accounts, and that you know which accounts allow you to defer tax until you withdraw your money, versus which ones enable you to increase your wealth tax-free. If possible, take advantage of employer benefit plans that include company matches or contributions, stock purchase plans that offer discounts on company stock, and deferred compensation plans that allow you to defer the tax on your compensation above the typical limits.

5. Anticipate future expenses.

You need to be prepared for future costs such as healthcare to create a retirement plan that serves you now and in the future. Spending tends to be the biggest factor in retirement success, so you need to have a good understanding of your projected expenses. Underestimating this figure could lead to a shortfall of money in your retirement.

For example, if you decide to retire before you start receiving Medicare benefits, you may have higher expenses from age 55 to 65, so you’ll need to account for those costs in your retirement asset management plan. You’ll also need to have some non-retirement assets to fund your early years, since IRA distributions (the amount of money you can withdraw from your IRA) are typically not penalty-free until age 59 _.

Make sure you leave yourself enough room to live the life you want to live, so that if significant travel or a second home are in the picture, you can cover the costs.

6. Minimize your taxes.

Use tax-efficient accounts such as IRAs, Roth IRAs, Employer-Sponsored Plans, and Health Savings Accounts to help reduce the amount of money you give to the government each year. Research the benefits of these accounts and choose the ones that meet your needs.

You should also aim to include various kinds of investments in all of your accounts. Having multiple accounts to withdraw assets from in retirement will give you flexibility to reduce taxes and maximize your wealth. For example, if you retire at age 62 and don’t take Social Security until age 70, you may have a window of low tax years, which could provide the opportunity to convert traditional IRA assets to Roth IRAs, enabling your investments to grow tax-free. Being conscious of how you use your money in retirement can lead to big savings.

7. Watch for law changes.

Tax law changes happen frequently (it’s even tough for the pros to keep up!), and they affect how much money you can save in your retirement accounts.

For example, the SECURE Act was recently passed, removing the age limit for IRA holders to make account contributions if they continue to work. The act also increased the age for required minimum distributions (the age you must start withdrawing money from your IRA if you’re not working) from 70 _ to 72.

In another instance, the CARES Act eliminated the need to take required minimum distributions for 2020, which provided some unique financial planning opportunities. Ensure you stay up to date on this type of information to take advantage of the benefits.

8. Understand your risk level.

it’s crucial to invest for your risk tolerance level and your age. If you’re young, it’s wise to invest more aggressively because this can lead to a higher rate of return on your money and greater compounded returns. In contrast, if you’re close to retirement, it may be best to consider a more conservative investment strategy that will reduce the impact of big stock market swings.

9. Diversify your portfolio.

Never put all your investment eggs in one basket. A diversified portfolio can help minimize your risk over time. In addition to using different retirement accounts and tax-efficient accounts (covered in tips 4 and 6), you should include U.S., international, and other types of asset classes in your portfolio.

10. Adjust your plan as needed.

Update your retirement asset management plan regularly based on your life circumstances as they evolve. Check in with yourself to evaluate where you are in relation to your financial goals and whether your plan is still on track to help you get there.

Get Expert Retirement Asset Management Advice

The do-it-yourself approach to retirement planning isn’t for everyone. If you’re looking for guidance from a seasoned retirement asset management professional, Curio Wealth can help. we’ll work with you to ensure you’ll never have to wonder if you’ll have enough money to retire (we’ll make sure the answer is “yes”!).

Book a call with a Curio Wealth advisor.

Important Disclosure: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Curio Wealth, LLC [“Curio Wealth”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Curio Wealth. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Curio Wealth is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Curio Wealth’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at Please Note: Curio Wealth does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Curio Wealth’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Please Remember: If you are a Curio Wealth client, please contact Curio Wealth, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.

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