About UsOur Story
In 1983, James Drake founded the practice we now know as Commonwealth Retirement Advisors. He specialized in retirement planning for public employees. In 2001, Ryan Drake joined his father to expand the financial planning capabilities of the practice. In 2011, David Monday joined the practice having retired as a senior executive at one of America’s largest investment firms. In 2017, Commonwealth Retirement Investments LLC, a Richmond based investment firm was formed. Today we are focused on helping those in and near retirement grow their income and preserve their nest egg.
Our Business Is Retirement
We are a Richmond headquartered advisory firm focused exclusively on those in and planning for retirement. As retirement specialists, we work to help our clients make wise retirement decisions, and then, grow and protect their retirement income.
+ Years Of Combined Experience
A Word From Our President
“Today, retirement can last 30 years or more. You worked hard to retire. We work hard to keep you retired.”
– Ryan P. Drake
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Would you keep working at a company that didn’t give you a raise for 30 years? Over time- your income needs to grow because your expenses are likely to grow. Today a couple aged 60 will likely spend over 30 years in retirement. During that time most of your expenses will rise. We find that some retirees focus only on the growth of their assets when they should also be focusing on the growth of their income.
It’s hard to fight genetics. For millions of years, our ancestors roamed the savannahs, searching for food and trying to stay alive. Humans learned that if we miss a potential meal, there will be another opportunity. But miss a lion, swishing his tail in the grass, and you may be the meal. Its baked into your biology, you are more likely to react to danger than opportunity.
The financial markets reached record highs in 2017, reflecting a growing economy. Complex weather events and political and global developments emerged, making the environment challenging for investors to navigate. Experience has taught us that successful investing requires discipline and patience. A long-term investment focus can help when emotions run high.