PORTLAND - Retirement planning is important, says James McCabe, managing director of the Portland-based McCabe & Associates, a private-wealth advisory practice of Ameriprise Financial.
“We try to structure a portfolio that will supplement your income needs taking on a proper asset allocation,” says McCabe, whose company can create a retirement plan that can see to clients’ long-term and short-term needs. “You want to make sure your assets are structured so they don’t all move in the same direction.”
At 329 Main St., McCabe & Associates provides financial planning, estate planning, retirement planning, education planning and investment management for hundreds of clients in Central Connecticut, including New Britain and the Farmington Valley.
The company is well versed in setting up charitable giving plans for those in retirement or who are seeking to donate after they are gone. The staff can also create retirement plans for those of any age, from their 20s on up.
The company will work with clients to come up with a plan to fund their dream retirement or their dream life - whether it’s buying a vacation home, traveling or funding an education for children or grandchildren - while also making sure that necessary expenses and unexpected expenses, such as healthcare costs, are included in the plan.
McCabe stresses the importance of planning for retirement while choosing a low-risk portfolio that sees clients through the ups and downs of the market. Some assets will peak at certain times, while others will go down, he says. His goal is to make sure that a client’s assets aren’t all peaking at the same time - which will likely lead to the same group of assets falling at the same time at a later date.
People should also avoid investing with a “herd mentality” or in what “their friends say is hot,” he says. “That could be misleading and detrimental to their long-term needs.”
His company will look at a client’s situation, learn about their needs, what assets they have and what kind of timeframe they are looking at in order to craft a retirement plan, McCabe says. “We have a staff of 10 seasoned financial advisers who are available to help with your financial needs at all times.”
For more information on McCabe & Associates, call 860- 342-1756.