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Gaining Financial Confidence in an Uncertain World By Paul D. Guerra L IFE CAN BE uncertain, espe- cially in regard to managing your personal financial affairs. Some investors find themselves overwhelmed with information and conflicting advice. Others don't have the time or interest to manage their personal assets and liabilities with discipline. Take, for example, planning for retire- ment, your children's or grandchildren's education, and other major financial goals in your life. How much is enough? As you answer this question, you gener- ally should consider a reasonable rate of compounded growth, as well as principal erosion through taxes and inflation and the possible impact of ongoing market changes. But few people have the knowl- edge or the time to do this on their own. Traditional planning can create an illusion of stability. But nothing happens every year exactly as predicted. Goals change with your station in life — and financial and market conditions are constantly changing as well. And what about drawing down your wealth once it has accumulated? How much can you safely withdraw each month in your retirement? This will depend on your investment returns, the inflation rate, changes in your health or marital status, whether you live beyond your life expectancy and other factors. As you take inventory of your important financial goals and prioritize them, know that proper planning can help provide a picture of financial strategies. However, past performance is no guarantee of future results. Through periodic reviews of your goals and the performance of your investments, you can assess how your actual investing and spending patterns affect your chance of success. With this information, you can make changes as needed to keep your plan on track toward your unique financial objectives. There's no substitute for common sense, a realistic and comprehensive plan that accommodates uncertainty, and sound MARCH-APRIL 2012 n MDNEWS.COM n MD NEWS Cleveland-Akron-Canton | 47 financial advice from someone you can trust. ■ DISCLOSURE: Investments in securities and insurance products are: NOT FDIC-INSURED/ NOT BANK-GUARANTEED/MAY LOSE VALUE. Paul Guerra is the president of Brookshire Wealth Management in Canton, OH. Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. Brookshire Wealth Management is a separate entity from WFAFN.