Retirement Resources President, Dave Boike Tells Readers That The Financial Challenges Due To The Pa
Retirement Resources President and Investment Advisor, Dave Boike encourages readers to hang on and hang in as everyone is in a financially challenging marathon that no one expected or trained for.
Auburn Hills, MI — September 30, 2020— Dave Boike, President of Retirement Resources and co-author of The Ultimate Success Guide with Brian Tracy, published a new article on the company website entitled, “The Pandemic Is A Financially Challenging Marathon Not A Sprint.” Mr. Boike tells his readers that everyone is in this marathon together.
“When COVID-19 first made its appearance,” Boike writes, “I think most of us imagined it would be a fairly short-lived event. However,” he adds, “as it is, the social distancing, the closure of businesses, the remote working, the unemployment, all of these things are apparently going to continue into at least the spring of 2021, perhaps even longer.”
As Boike points out, “No one was ready for this. It wasn’t like we were in training for it. Those of us who thought it would be an easy sprint are now realizing it is a full-on marathon. And,” Boike adds, “anyone who’s ever run a marathon knows that you have to train for at least a year to be physically, mentally and emotionally fit to run one.”
Boike tells his readers that planning for the unexpected is what everyone attempts to do. However, he states, “The one thing about life is that you simply never know what might happen. We do our best to plan for things base on the past, but when something we’ve never experienced before happens, we have to do our best to ride it out and learn as we go.”
“If you have established a retirement fund and are in a position to continue contributing that’s wonderful,” says Boike, adding, “Keep contributing and keep your focus on the long-term goals. Maintain correct allocations between short, mid, and long-term investment buckets.”
“If you are no longer able to contribute but don’t need to withdraw funds, that’s great news too,” Boike states. He goes on to say that, “However, if your circumstances require that you take funds out of your retirement plan, note that while Congress made it easier to take a withdrawal without incurring penalties, it’s not guaranteed you’ll be able to get your money out. It all depends on if your retirement fund is with your employer. It turns out that retirement plan providers read the new law’s withdrawal exemption as an optional plan feature. That means the decision whether to offer this or not is up to your employer.”
About Dave Boike
Dave is a well-known financial educator, co-author of The Ultimate Success Guide with Brian Tracy, author of High Tide and contributing author of 21st Century Wealth. For over 30 years, Dave has been teaching investors age 55+ how to preserve their assets, increase their income, and reduce income taxes. He has taught Retirement Planning Classes at Michigan State University, Wayne State University and Oakland Community College.
For over 4 years, Dave was featured on NBC25 every weeknight at 6PM, discussing the daily market wrap-up. Many area retirees have used Dave’s advice to enjoy a financially independent retirement.
Dave is a Chartered Financial Consultant, a designation awarded only to the most experienced advisors who have completed a 10-course program of study, through the American College in Pennsylvania, focusing on Tax, Investment, Risk Management, Retirement and Estate Planning. He is an approved Member of the International Association of Registered Financial Planners, the Society of Financial Service Professionals. As a strong advocate of education, Dave recently spoke at The Michigan Association of CPA’s and is teaching a class at Oakland Community College.
Dave’s latest book, High Tide, A Practical Guide for Affluent Retirees to Protect, Profit and Prosper from the Coming Storm, talks specifically on the important challenges retirees are facing today and some new cutting-edge solutions to address those challenges. He teaches you in this easy to read book how to take the steps necessary to achieve your successful retirement.
Dave is Managing Member and Chief Compliance Officer of Retirement Resources, LLC, a Registered Investment Advisory Firm. Every year, since 2011, Retirement Resources has been awarded the 5 Star Wealth Manager of Michigan, which is only given to the top 7% of advisory firms.