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The word “retirement” can cause excitement or panic, depending on how well you’ve prepared for it. 

The truth of the matter is most people don’t see the value of investing for retirement until it’s too late, and even then, it’s not enough to support their lifestyle for decades to come.

So how can you find ways to increase your chances of being prepared for retirement? 

That was the topic of our conversation on the latest episode of the Inner Edison Podcast with Ed Parcaut. 

We spoke with David Rosell, an author, speaker, and founder of Rosell Wealth Management. He has over 20 years of experience helping people prepare for an exciting retirement. 

He shared how he got into financial planning and the importance of diversifying your portfolio to make your retirement savings recession-proof. 

From Entrepreneurial Teen to Wealth Manager

David started learning about money after starting a driveway sealing business in his teens. 

What started as a one-off job ended up becoming a thriving business that would last through his years of college and ten years after graduation. 

As a young man with a good chunk of money, he started reading and learning about how to make his savings work for him. Pretty soon, his employees and friends began asking him for financial advice. 

After a hiatus traveling the world and visiting 65 different countries, he returned with a new direction for his life, teaching others how to build wealth. 

The Market isn’t Just About Timing. It’s About Diversification.

When you ask most people about the stock market or investing, you get different answers about successful investing. 

Some people believe it’s all about timing the market and getting in at the right time. While this can be one strategy for building wealth, it’s hardly the only method. 

Others may say, buy low and sell high, which is also another strategy but requires a lot of waiting to make a good return. 

Savvy investors believe in diversifying their assets. In this model, it’s not about timing the market or just buying low and selling high. It’s about understanding the value of the entire market to minimize risk and maximize your rewards. 

Rosell states that 90% of success in investing comes from having your eggs in many different asset classes. He also states that any balanced portfolio comprises 24 different asset classes.

These investments get calculated into different percentages based on your age and retirement horizon, changing as you get older. Additionally, as one investment becomes overbalanced, the profits are used to buy distressed assets, which factors into the notion of buying low and selling high. 

Therefore, by investing your money in these asset classes, you can build a retirement fund that is virtually recession-proof. 

Failure is Not an Option

When it comes to your retirement savings, failure is not an option. Rosell believes that one of your most coveted professional relationships, besides your family practitioner, is having a dedicated team of professionals to help you plan for your retirement. 

When most people consider retirement planning, they tend to focus on one aspect, the accumulation phase; however, they forget about another crucial part of retirement, the income distribution phase. 

While reaching your retirement goal is nice, a crucial part of planning is ensuring you have enough savings to last, and that’s where wealth managers can provide much-needed assistance.

If you’re ready to start planning for your retirement, or you want to make sure you have planned well enough to last for the years after retirement, contact Rosell Wealth Management. 

It’s Never Too Late

It’s never too late (or too early) to plan for retirement. If you’re looking for guidance on investing for the future, Rosell Wealth Management can help.

As always, if you’re looking for more great interviews about business, entrepreneurship, and more, please tune in to the Inner Edison Podcast with Ed Parcaut.