People will get their income in retirement from multiple sources:: pensions, Social Security, investment accounts, savings, supplementary income from part time work, etc. Over your working years you have followed an accumulation strategy to collect monies that can be used to fund your retirement. You may even have used a financial planner to assist you in growing that nest egg. Many people, however, have not planned a specific retirement income strategy (distribution) to design how to safely and efficiently use their funds during retirement to pay for their lifestyles.
As the old saying goes, it wasn’t raining when Noah started to build the ark. By the same reasoning, preparing for retirement and having funds to finance what can be as much as 30 years or more of senior life, takes proper preparation and planning. That planning should be based on the use of safe money strategies, which are the use of financial and investment instruments that are protected from loss and legally sheltered from onerous taxes.
In 2000-01 and 2008-09, and then again in 2020, we experienced major declines in investment market value (bear markets). Much, if not most, of Americans retirement savings, particularly in 401(k)s and IRAs, can be exposed to such market losses. Market Risk is an inherent element of investing. Recovering from market losses of this magnitude can take many years and, in percentage terms, has to far exceed the scale of loss for values to be recouped.
To support our clients, and prepare your individual retirement strategy, we act as fiduciaries, and provide comprehensive investment planning and financial planning services by integrating all that we know about what costs you will face in retirement. In addition to traditional securities investment methods, and in the best interests of our clients, we also incorporate a range of safe money strategies, along with asset maximization approaches to plan for sufficient funds for retirement. We also incorporate Social Security and tax planning into these investigations.
Along with planning for retirement income, our approach also includes planning for, mitigating and avoiding costs associated with aging. On other pages we discuss health care and Medicare, tax efficiency plans, and we also consider how to protect retirement assets from the ever increasing costs of long term or extended care.
Oftentimes we find that these considerations go hand-in-hand with clients’ desire to provide for a legacy to their heirs. As such, we include the use of various types of life insurance to buttress retirement income, provide for legacies, and assist in tax planning.
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InsuranceProfessor.net works to minimize or eliminate worries about income due to long life expectancy, finding solutions to deal with health care and extended care costs. Our aims are to ensure that your principal and accumulation are protected from diminution due to changes in the market, provide guaranteed income that will last your entire life.