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Most Americans Don’t have a Pension Plan Anymore
Many Age 50+ Don’t Have a Plan for Retirement
A financial advisor who has retirement expertise can help you design your retirement plan. But it’s all for naught if you don’t pay yourself first. Having a vision of your retirement is one thing, but it requires an economic epiphany to motivate you pay yourself first. Any vision of retirement is just a dream until you decide to that. Once you discipline yourself to set aside a portion of every paycheck, of your IRS refund, of your inheritance and any windfall, you’re ready to engage a financial advisor who is recognized as having expertise to help you develop your plan. Can you imagine playing in the NFL without a game plan? Would you ever confront a military foe without strategic planning? Is it even conceivable to run a corporation without tactical planning? If you’re golden years are going to be memorable ones, you need a plan with goals, strategies and tactics. There are three fundamental goals in retirement. The first is to establish increasing income you can’t outlive to cover your increasing cost of living in retirement. The second is to ensure an inheritance for your progeny and your favorite non-profit organizations. The third is to grow your estate and expand your influence.
To establish increasing income you can’t outlive to cover your increasing cost of living in retirement, you’ll want to consider guaranteed lifetime income annuities as your supporting strategies. To ensure an inheritance for your progeny and your favorite non-profit organizations, you’ll need to investigate the purchase of life insurance that can leverage your money to your kids and charities. To grow your estate and expand your influence, you’ll need to take a risk-tolerance test to determine your suitability for equities and bond holdings that have potential of increasing your net worth. Watch the interview with nationally recognized Certified Financial Planner and Registered Investment Advisor Stephen Stricklin on developing a retirement plan you can live with. http://rightonthemoneyshow.com/most-americans-dont-have-a-pension-plan-anymore-stephen-stricklin/
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Building A Financial Profile
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Released On: 1/21/2017
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Lazy Money Isn’t Working for You
Money market funds, CDs and savings accounts were the safe money havens of the past. But today, they’re crediting rates are so low, taxable and eroded by inflation. You worked hard for your money, so you need to make your money work hard for you. ...
Released On: 1/20/2017
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Is Your Money Searching for Sanctuary?
After the market meltdown of 2008, investors and savers alike want to have safe alternatives for portions of their money. Many near or in retirement just can’t afford another major downturn in the market, so conservative options need to be sought ...
Released On: 1/19/2017
Views: 2996
Tax Payers Need to Become Gamers of the Tax System
It doesn’t matter what game you like to plan, there are strategies and tactics to learn to become successful at any sport. The same is true of tax code. There are three basic moves to make that can positively affect the taxes due on your 1040. Wa ...
Released On: 1/18/2017
Views: 2504
Understanding Your Psychonomics Risk Could Change the Way You Invest
Every investor should have a financial profile that includes a risk-tolerance assessment, timeline goals and a retirement or estate strategy. It becomes the reference point for all your money decisions and any plan alterations that will occur. Wa ...
Released On: 1/17/2017
Views: 2477
Why Does Full Disclosure Seem So Elusive for Investors?
It’s really troubling in the information age an investor can’t seem to secure the true cost of their investments or consulting advice. Even when you Google—the front of all knowledge—most financial products disclosures don’t reveal the total cost ...
Released On: 1/16/2017
Views: 2652
Elder Care Costs in Retirement
Elder care in retirement is the greatest economic threat to seniors. Medical expenses and long-term care costs can exceed $220,000 for a married couple during their golden years, and living longer could increase the costs even further.
Released On: 1/14/2017
Views: 2813
Take-Home Pay is the Net Effect of Retirement Income
The number-one concern of retirees is they may be outliving their money, but their number-one compliant is paying taxes during retirement. Focusing on taxes needs to be coordinated with the purchase investment products to determine investor suita ...
Released On: 1/13/2017
Views: 2565
Required Minimum Distributions on Qualified Retirement Plans
Most retirees don’t focus on required minimum distributions. Some don’t even know what RMDs are. Only a few seniors have a handle on them and are aware of the penalties for not complying with the laws that govern RMDs.
Released On: 1/12/2017
Views: 2709
Real Income Advisors Are Rare in Retirement Management
Retirement income just not just triggering a lifetime annuity and just setting it and forgetting it. Portfolio income needs many investment positions to generate retirement income to age 100.
Released On: 1/11/2017
Views: 2547
Can the Way Advisors Are Paid Cause Conflicts of Interests?
It is impossible to be in the advisory business, be altruistic and be profitable? Is there such an inherent conflict of interest between advisor and investor that the compensation models that exist today need to be scraped? The Department of Labo ...
Released On: 1/10/2017
Views: 2403
If Returns Are Not Worth the Risk, Why Buy and Hold?
Many modern portfolio proponents use the risk-return theory of the efficient frontier to measure market returns against risk exposure. The goal is to optimize returns with the least amount of risk. If portfolio performance falls below the efficie ...
Released On: 1/9/2017
Views: 2631
The Home Equity Conversion Program
More than ever, seniors in or near retirement are struggling to create a reasonable lifestyle in their golden years. Many have mortgages, short debt and family obligations, such as long-term care costs for their aging parents and unpaid college l ...
Released On: 1/7/2017
Views: 2722
Protect Your Retirement Lifestyle from Elder Events
Sooner or later most seniors will experience some type of morbidity or illness event during retirement. Some retirees live in single story homes, with limited or no steps at all. Walk-in bathtubs, nonskid tile and support bars can help, but they ...
Released On: 1/6/2017
Views: 3176
Social Security & Medicare in Retirement
You’re probably being pummeled with Medicare literature in the mail, but what’s really covered? The topic is overwhelming, thanks to the complicated coverage policies. Watch the interview with retirement specialist Curt Chojnowski.
Released On: 1/5/2017
Views: 2589
Tax Free Income from Cash Value Life Insurance
Depending upon your risk tolerance and the state of your health, you may want to consider TAMRA compliant cash value life insurance designed for accumulation and not necessarily as a death benefit.Watch the interview with retirement specialist Cu ...
Released On: 1/4/2017
Views: 2532
Tax Free Retirement Income Sources
Most seniors and retirement advisers focus on qualified plan monies. But there are non-qualified monies that could make the difference between experiencing retirement prosperity or retirement poverty. Watch the interview with retirement specialis ...
Released On: 1/3/2017
Views: 2490
Worldwide Government Debt & Pension Obligations Out of Control
The nations of the world continue to print money, expand their governments and obligate their taxpayers with debt they can’t repay. The world economy is so interconnected, that when the first domino falls it will cause a rippling effect of a worl ...
Released On: 1/2/2017
Views: 3260
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