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AdviceWise Less Can Be More If a retiree withdrew less money from their retirement portfolio in the early years, logic tells us that they should be able to withdraw more money in the later years. By Jerry Desiderio M A G A Z I N E Subscribe If you or someone you know would like to subscribe to FloridaWise Magazine and receive a full years subscription absolutely free, go to www.floridawisemagazine.com and submit subscription information or complete and mail form below to: FloridaWise Magazine P.O. Box 541600 Greenacres, FL 33454-1600 Name Address City State Zip Phone Offer good for residents with zip codes beginning with 334_ _. If address is outside this area, you may subscribe for a yearly discounted price of $18 (a 60 percent savings). Send checks or money orders to above address. If you did not subscribe and received this magazine in the mail, it is a gift courtesy of FloridaWise Magazine and its sponsors. You will never incur any charges for it. 26 October 2006 II know you’re thinking that I’m a master of the obvious, but many retirees may not realize that they may end up with more money in their retirement portfolios by investing in asset classes that lower long-term returns. There is a world of difference between the best ways to invest before retirement and after retirement. In most cases, investing is simply broken down into two phases: accumulation and distribution. During the accumulation period, investors are adding to assets, not withdrawing them, making growth the primary objective. Stability, though comforting for psychological reasons, takes a back seat. When a person enters the distribution stage, stability should now become the number one objective. When a person is accumulating money, what is most important is how much you end up with, not necessarily how you got there. For example, if your portfolio lost 45 percent the first year then had annual gains of 14 percent (these percents aren’t actual, they’re only to make a point) in 16 years you would practically quadruple your money. Sounds wonderful, doesn’t it? Here’s something that I think may surprise you, although the returns seem exceptionally favorable, they could prove to be nothing less than disastrous for a retiree. Lets assume that a person retires with a portfolio invested in growth assets worth $1 million and in year one withdraws $60,000 for living expenses and increases the withdrawal by 3.5 percent annually to offset inflation those exceptional results would leave the investor broke after 16 years! The point I’m trying to illustrate is that in retirement Math Rules. If you must eat Photo: Visual Field/istockphoto into your portfolio each year, your portfolio has a relatively low tolerance for losses. Remember, you can control the tone of your assets. Simple math proves that constant returns, albeit conservative ones do justice to the damage that can be caused by losing years. To summarize, in a retirement portfolio, it is absolutely crucial to find the lowest risk asset available to achieve your desired return. If you manage to keep the risk low enough, you should survive nicely with a lower return. That’s why I believe almost every retirement portfolio can benefit from a healthy dose of low paying bond funds. For a complimentary portfolio review, please contact our offices at 561-393-6900. — Jerry Desiderio has been an investment professional for more than 40 years. He currently oversees the management of approximately $100 million for individual clients, small business owners, 401k Plans, etc. He can be reached by phone at P: 561- 393-6900, fax 561-347-0145, or email jdesiderio@kwbrowninvestments.com. For further information, visit his Web site KWBROWNINVESTMENTS.COM. ❂
SocialWise Kendall Rumsey, Craig Diamond, Lynne Hernandez, Roy Assad and Chef John Carlino Jennifer Tuhy and Ryan Hallihan, general manager of CityPlace Jeff Pepin, Tara Vonstrausdas and Charles Williams The Harriet Flows with Fine Wine and Great Food at CityPlace Uncorked More than 600 guests toasted and tasted the fine wines and great food from the area’s best restaurants for this year’s CityPlace Uncorked. The sold-out event at the Harriet Theater raised funds for the Florida Restaurant and Lodging Association’s (FRLA) ProStart Program. The nonprofit organization’s mission is to introduce high school students to careers in the hospitality industry. Headquartered in Florida, ProStart helps more than 4,000 students each year, including 16 high schools in Palm Beach County. Hosted by FRLA, National Distributing Company Inc. and CityPlace, guests sampled wines from the world’s best vineyards, as well as signature recipes from area restaurants including Blue Martini, Brewzzi, City Cellar Wine Bar & Grill, Saito’s Japanese Steak House, Leila, L’Opera, Columbia Restaurant, Legal Sea Foods, Mark’s CityPlace and Continental Catering. The crowd enjoyed live music by The Michele Anastasio Quartet, two dessert stations provided by Johnson & Wales University and local chef John Carlino, owner of Cook’s Inc. Foodservice Consulting, and a silent auction that featured over $75,000 in rare wines, gift certificates and merchandise from CityPlace and area retailers and restaurants. KOOL 105.5’s morning show hosts, Mo and Sally, served as masters of ceremony and Taylor Morgan of South Florida Dines was host of the VIP reception. Chef Dean James Max of 3030 Ocean in Ft. Lauderdale was this year’s celebrity chef signing copies of his new book, A Life by the Sea. He donated 10 percent of his book sales to the ProStart Program. Max was previously the executive chef at the popular Brentwood, Calif., restaurant Woodside. Johnson & Wales University also made a generous contribution to the event by presenting 11 ProStart students with $1,000 scholarships. The winning students were Michelle Restrepo from Wellington High School; David Fernandez from Cardinal Newman High School; Evelyn Huchet, Akiera Lighbsey Sylvain and Damaris Morales from Inlet Grove Academy; Kelly Balland, RJ (Roger) St. Marie and Brandon Smith from John I. Leonard High School; Price Yanik from Palm Beach Gardens High School; and Gabriel Guzman and Marcus Wells from South Tech Academy. The event’s primary corporate sponsor was The Related Group, the nation’s leading builder of luxury condominiums and the industry leader in residential development in South Florida. Additional sponsors were National Distributing Company Inc., Florida Culinary Educational Foundation, American Express, CityPlace, The Harriet Himmel Theater, Blue Martini, American Culinary Federation, FRLA, Leila, L’Opera, AmeriGas, Coca-Cola, Johnson & Wales University, Cheney Brothers, Fresh from Florida, Heartland Payment Systems, Commerce Bank, Merritt Cooling Systems, Sysco, PGA National, FHM Insurance Company, Micros, Palm Beach Illustrated, The Palm Beach Post, Palm Beach Daily News, Clear Channel Radio’s CLASSY 92.1 and KOOL 105.5, South Florida Dines and WPEC News 12. Walter Blackburn, Stephan Bolsen, Barbara Salk and Timo Khammash Corey Saban and Alissa Zandy Photography by Alissa Dragun Frances Webster, Todd Peter and Brooke Raich Chef John Carlino sparks up the event with flambe Nicole Jackson and Chef Dean Max Above – Michelle Negron and Bronwen Halse Below – Stuart Sutherland and Jake Card
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