It May Cost You a Couple of Weekends to Create a Retirement Plan, Without a Plan It May Cost You Your Entire Retirement
Antoine de Saint Exupery once said, “A goal without a plan is just a wish.” Most adults stopped wishing upon a star long time ago. They stopped throwing pennies in a wishing well. They stopped believing in making a wish before blowing out the candles on their birthday cakes. Watch the interview with popular platform speaker, best selling author and registered financial consultant Justin Shaw.
Creating a retirement plan may seem to be all about math, investments, taxes and Social Security benefits. But in the end it’s all about lifestyle, happiness, emotional enjoyment or simply feeling good in your golden years. Understanding the correlation between retirement planning and retirement happiness is the biggest connection you can make in your adult life. Here’s some wisdom from Justin Shaw.
The sudden downturn of 2008 forced me to downsize and restructure my growing “empire.” It became apparent that all of the success I had, thus far, achieved, suddenly became untenable and meaningless dead weight that just had to be shed. I divested myself of unneeded expensive cars, properties, and other “symbols” of success. It was the shedding of an entire way of life; a radical readjustment to how I viewed everything around me. No longer would I judge myself by the goods I owned but rather by a more meaningful relationship to family, faith and myself. I don’t miss it one bit! Now, while enjoying time with my family, I am learning to appreciate how I am able to touch the lives of those around me. Downsizing ultimately made more room for the things that mattered.
That experience also really underscored the importance of financial planning. I realized that if I could be caught off guard as a professional at the top of my game, then anyone could. This economic turmoil became the catalyst for my self-awareness and for the implementation of unconventional planning strategies that worked to mitigate retirees’ losses.
The way to ensure success for your future is to take a measured look at what money will be needed to “live”, while appreciating that the demands for those future assets will change as a person moves closer to their nineties.
The key is to have a measured and planned approach to budgeting for a more comfortable retirement. The comfort of knowing that your financial affairs and family are taken care of will provide immeasurable peace of mind when you seek it most. In short, it is best to assume the worst – plan for a rainy day – and hope for the best. - Justin Shaw.
This press release contains selected content from Amazon Best Seller Lists The Soul of Success featuring Justin Shaw.
Creating cash flow every month isn’t an accident; it’s a deliberate act of spending wisely and saving for the future. Many consumers look to engage a professional adviser, because for most, managing your finances is not a do-it-yourself activity. ...
Released On: 1/21/2017
Views: 2968
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
Views: 3043
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: 3011
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: 2520
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: 2498
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: 2666
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: 2834
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: 2585
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: 2724
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: 2567
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: 2413
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: 2649
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: 2737
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: 3195
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: 2605
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: 2547
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: 2511
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: 3278