Dumford Management Group

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Retire Right with Dumford ManagEmenet Group

Whether you’re on the verge of retirement or it’s still a few years away, the truth is that most people feel like they haven’t done enough to prepare. When there’s so many things you can’t predict, the reality of inflation can start to set in quickly.

That’s why it can be so important to have a financial partner that you can trust to help you navigate the obstacles one at a time. Investing and saving isn’t a one–size–fits–all game, but it is the most practical way to give yourself a head start. With the right foundation, you can then add secure monthly income to the mix, so you have even more to fall back on.

The Path to Retirement

If you live in Fairfield, Ohio, the Dumford Management Group is here to help you build a better portfolio with the help of smarter strategy. Advisor Jariel Dumford understands that every client has their own opinions when it comes to taking risks, with some willing to take the gamble and others preferring to keep everything as buttoned up as they possibly can. His goal is to help people find the right balance, one that protects their assets without allowing them to languish.

What’s more, you have the chance to develop a strong relationship with a professional who will look out for your best interests. Boutique retirement firms like Dumford’s may not have as many people working for them as the big names, but the staff that do work there will take the time to get to know more than just your Social Security number.

Plus, it doesn’t have to be complicated. While it’s not always easy to recall the more technical terms in the rules of finance, the basic principles are pretty simple:
1. Lock down how much money you can save every month based on your current assets.
2. Give your advisor the chance to aggressively manage a portion of your wealth so you can turn it into more.
3. Let yourself kick back and enjoy everything you worked for during your golden years.

maximizing social security

Maximizing Social Security in this day and age may not always seem like a worthwhile task. In fact, many might dismiss it as an asset, instead choosing to focus more on their savings and standard investments. If this sounds familiar, there’s a silver lining you should know about. There are ways to get more out of this famous social safety net when you know how it all works. The right financial advisor can go a long way toward helping you get the secure monthly income you need to retire in comfort.

How to Maximize Social Security

Social Security started in the 1930s, and it’s undergone numerous changes since then. The laws, which are tied up in everything from economic patterns to shifting industry standards, are complex enough that most people aren’t aware of the nuances found in each clause. A financial advisor not only understands how your profession and past income factor into how much money you can collect, they also understand how to answer all the questions so your contributions are accurately reflected to the government.

At Dumford Management Group, you’ll learn more about how Social Security can be a key part of your secure monthly income strategy. Also known as one of the stablest forms of retirement, the idea is to replace a regular paycheck with income that’s every bit as reliable. Social Security can’t be your only source, but it can be combined with anything from dividends to rental income to boost what’s coming in every month. Even though there’s a lot of uncertainty in the air about where the economy is headed, Social Security is a revenue source that you can count on.

When you choose a boutique retirement firm like Dumford, you can build your relationship with a financial professional who knows not just your financial history, but also your goals for the future. If you’re planning for your retirement, Social Security benefits can go a long way toward helping you cover daily expenses so you can spend your savings on the things you really care about.

retirement income planning

What does retirement income planning look like in today’s day and age? This common question is one that you won’t find a straight answer to. A friend might tell you that it has everything to do with how much you save. If you have a million dollars saved at the start of retirement, this should give you a standard yearly income of between $40,000–$50,000.

On the other hand, a family member might tell you that a million isn’t a magic number (even if it is easy to remember). Instead of asking the people you know, consider talking to someone who knows more than just the basics. If you’re interested in being financially secure both before and during your golden years, a financial advisor like Jariel Dumford can tell you more about how to plan your income so there are no unpleasant surprises ahead.

How Much Do I Need to Retire in Fairfield, Ohio?

Whether you’re planning to stay in the Midwest or not, the reality is that everyone will need a different amount to retire. Maybe everyone in your family is doing well and you plan on living off the land. In that case, you would just need enough money to plan for everyday expenses as well as some stashed aside for unexpected crises in the future.

Most people will want more than that, though. For instance, they may want to travel while also supporting their grandchildren’s education. They may want to renovate their home or buy an additional property or two. No matter what you’re looking for, retirement income planning is the process of strengthening your portfolio so it can handle the pressure.

Pensions, Social Security, rental income, savings, stock dividends: all of these can serve as income planning. At Dumford Management Group, you’ll learn how to plan your retirement income so you replace your standard paycheck with revenue that’s just as steady. Whether it comes from a part–time job or an Airbnb, Dumford can help you work out all the specifics based on your goals.

risk mitigation

Risk is a tricky subject for many people, particularly because we all have our own definitions of what defines the balance of risk and security in the financial world. A financial advisor is meant to strike a balance for each client, so that they’re not only making money but also comfortable with the way they’re making money.

At Dumford Management Group, you’ll find a financial advisor who knows the strategies, and who also knows how to implement them. If you don’t want to have to worry at every economic turn, you can turn to Jariel Dumford to learn more about how everything from bonds to FIAs can help.

What Is Risk Mitigation?

Risk mitigation is the art of protecting your portfolio from market swings, including recessions and depressions. When the economy is at its worst, you don’t want to get caught in difficult circumstances without having some type of backup plan involved. With a financial advisor, you’ll learn more about how you can shelter your assets no matter how volatile the market is.

What you choose will ultimately depend on both the weight of your portfolio as well as your personal decisions. Some people love the thrill of gambling with their money, particularly in the industries with the most buzz. For instance, when crypto first started making headlines, it was hard not to be swept up in how it could revolutionize how we pay for goods and services. Investors may have known that getting involved was ill–advised by some, but they still want to go through with it. After all, how many millionaires have been made by going against the grain?

A financial advisor isn’t there to dictate how you invest your money, they’re available to answer questions and provide insight on what you can do to stay protected. Your actions will depend on how you want to make money. For instance, you may see traders rely on stop–loss strategies, meaning they cut off their investments if prices keep dipping lower and lower. This is by no means necessary to do, but some people prefer it as a long–term plan to keep themselves from losing excess money.

If trading isn’t your style, you may opt for fixed–income annuities (FIAs), which may give you a steady stream of income regardless of how the market is performing. This option isn’t only comforting to many people, it can give them a sense of confidence in their finances—even when the rest of the world is teetering on economic collapse. There are also bond investments and insurance policies that can go a long way toward mitigating risks in other sectors of your portfolio. For instance, you may choose a policy with a savings component to it, allowing you to
make withdrawals if your other assets aren’t performing as well as you need them to. At Dumford, you can explore as many tactics as you need to in order to protect your portfolio.

life insurance

Life insurance can be a difficult topic for many people to think about, but it doesn’t have to be. Like many other kinds of insurance, the goal is to get things squared away just in case something happens. There are a lot of reasons why it pays to face this matter rather than let it fall to the wayside. At Dumford Management Group, a boutique retirement firm, Jariel Dumford can help you through the process.

If you do pass away unexpectedly, you’ll want your loved ones to be taken care of no matter what. That’s why there are a variety of life insurance policies designed to protect people from the expenses that arise both during and after a death. The right type of coverage isn’t always obvious, though, particularly if you’re not clear on what all the terms and conditions mean for you and your family. You might also reasonably want to know how or if life insurance will affect your portfolio and larger retirement goals. This is why it can be helpful to talk to a financial advisor about the realities of this type of insurance.

How to Select a Life Insurance Policy in Fairfield, Ohio

The most important question you want to ask about your policy is: who exactly are you trying to protect? Some people will want to provide for their young children. However, they won’t want to provide for their children by the time they reach a certain age. In this case, term life insurance would be an excellent choice. (This policy gets its name due to its expiration date.) So maybe you take out a policy that ends on your youngest child’s 25th birthday. This doesn’t mean that you have to give up life insurance entirely, it just means that you switch to another plan on that date.

If you would prefer to set up a permanent life insurance policy, this will cover your dependents for life. So, if you have a spouse or children that you want to cover indefinitely, a financial advisor can tell you more about how to get them the best possible coverage.

Dumford can also tell you more about the specifics behind every policy and carrier. With these policies, the beneficiaries will receive the benefits at the time of death, but this isn’t the entire story. Some policies may also have a cash value, which gives you an additional savings component that can be helpful if you ever need to make an unexpected withdrawal. If you ever do choose to terminate the policy early, you’ll want to know exactly what you’re signing up for, so you’re not surprised if penalties are imposed.

Whether you have questions about tax deferments or how the insurance will impact your other investments, approaching the problem from a financial standpoint may be the best possible decision you can make. Dumford is there to help you feel confident in your coverage.

wealth management

Once you hit a certain number of assets, wealth can be a difficult thing to manage. It’s no longer a matter of keeping an eye on one or two accounts anymore. You likely have dozens of assets that rise and fall with the market, and it’s incredibly important to know how they’re performing if you want to maximize your margins.

If you let a few slip from your radar, it’s easy to lose more than you planned on. A financial advisor can help you manage your wealth at every stage of the way, so you’re not overlooking lucrative investment opportunities, nor are you allowing your stagnating or declining accounts to languish unnoticed. At Dumford Management Group, you can work with a professional at a boutique retirement firm, one that understands who you are and what you want from your money.

What Is Wealth Management?

Wealth management is the art of oversight. Whether it’s a legal statute or a tax code, there are numerous factors that influence the bottom line of your portfolio. And while there are countless strategies that you can take to address these issues, the problem is that most people don’t have the kind of time or inclination to take a deep dive into every number (and the many forces that dictate that number).

With a financial advisor in Fairfield, Ohio, you can learn more about which strategies will work best for your personal investment style. Whether you’re largely risk–averse or you love a gamble, the right advisor will know exactly what you’re looking for. They can give you a heads–up if an account is starting to decline, and they can give you their recommendations about the pros and cons of keeping your money where it is or moving it to a different venture entirely. These services aren’t just designed to help you maximize your wealth; they’re designed to help you breathe a little easier about how well your money is being invested. This way, you have precautions in place before you lose any of it.

investing

When nearly anything can increase in value, defining an investment isn’t always easy to do. To complicate matters even more, there are no guarantees. Certain decisions may seem like sure–fire bets, only to be proven wrong in the wake of an economic downturn or shift in consumer patterns. Other decisions may look risky to the point of delusion, only for you to find that they were the smartest decision that the investor ever made.

When some people get rich based on sheer luck, while others lose everything after strategic choices, you would be forgiven for not knowing which way to turn. Thankfully, the right financial advisor can give you the information you need to know before you make any decisions you can’t take back.

Better Investment Advice

At Dumford Management Group, Jariel Dumford can tell you what it means to both maximize and protect your portfolio at the same time. He can also provide some much-needed perspective on the overall health of your assets. For instance, while diversification is important, it’s not always as simple as branching out. If you’re going to start opening up to other strategies, they need to be well-thought out. Ideally, they’ll also favor industries that you have some interest in. This way, if circumstances should change, you already have a background of the sector for context.

Other people might be better off consolidating their investing, so they have a clear focus. As a financial professional at a boutique retirement firm, Dumford will help his clients see how and where their investments can be strengthened. He can also help people balance out their comfort with risk without forcing them to step too far out of their comfort zone. This may mean encouraging some clients to be a little more aggressive or asking the gamblers to hold back until they know a little more about what they’re really signing up for. No matter what category you fall into, getting an expert’s advice can be everything you need to have the retirement you’ve always dreamed of.