Month: July 2020

Five Annuity Myths – And Why They’re Wrong

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Annuities Can Generate Reliable Income, Though They Often Get a Bad Rap

When you think about financial planning and the money you’ll live on in retirement, stocks and bonds probably come to mind. These market-based investments are often in the spotlight, and it’s true that they can help you grow your wealth. However, it’s also true that they may a number of downsides, one being that growth is unpredictable. This means that if you’re approaching retirement, or you’re already retired, one poorly timed downturn in the market could greatly set you back or even lead to you running out of money in retirement.

Since risk is inherent in investing, many people look for safer options. However, things like checking accounts or even high-yield savings accounts may not be the answer. Though they won’t lose money in a technical sense due to FDIC insurance, the value of your savings may still erode over time due to inflation.

So, what’s a savvy saver to do? One potential option is an annuity. If you’d like to save for retirement and create a guaranteed income stream – one that isn’t directly tied to the markets – a fixed indexed annuity offers an excellent option for consideration. Unfortunately, annuities get a bad rap because of misinformation, stereotypes, and myths. Below, we’ll tackle five of the most common reasons people hesitate to consider annuities as a viable retirement income option.

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How Much Risk Do You Really Want To Take?

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We believe the risk is simply a measure of how much you could potentially lose in the next stock market crash. Since 1929 the stock market crashes an average of 40 percent, every 7 years.

So as a retiree, or pre-retiree, are you willing to lose the same 40 percent to try and earn a higher rate of return?

If you have one million dollars saved for retirement, and you suffer a 40 percent loss, you’ve just lost 400,000 dollars and you now only have 600,000 dollars left. Can you afford this type of loss if you’re not able to take the same amount of income you planned from your retirement assets?

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The Reality Of Saving For Retirement

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You started saving money decades ago, so you wouldn’t have to worry about money during retirement. You saved, sacrificed, and budgeted carefully so that when you retired, you’d have no more worries about your money. How has this worked out for you?

You’ve saved a lot of money, but you’ve found you worry more about your money now than you ever did before. You find yourself worrying more and more about big stock market losses.

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Why Did You Start Saving Your Money Decades Ago?

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The reason you first started saving money was to create a dependable income flow that would replace your paychecks and last for as long as you lived, once you retired. You saved money while you were working so you wouldn’t have to worry about money when you retired. The big problem is, you may have incorrectly been taught you have to invest your assets for growth instead of for dependable, even guaranteed, lifetime income.

Did you invest your money to watch it go up and down on a daily basis?

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10 Questions to Help You Choose a Financial Advisor

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Be Intentional About Who Will Guide Your Retirement Planning

We all dream of a relaxing, carefree retirement that allows us to enjoy the fruits of our decades of hard work. However, this may be possible with proper planning. Whether you’re getting an early start or you’re nearing retirement age, it’s helpful to seek out the guidance of a professional financial advisor to ensure you’re taking the right steps to maximize your nest egg.

With so much riding on your retirement planning, it’s important to be intentional about the advisor you choose. You’ll want to find someone who you feel comfortable with, who takes the time to answer questions, and who can provide the type of advice and services you need.

With that in mind, consider the following ten questions as a suggested interview for potential financial advisors:

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Safe Income Withdrawal Rates During Retirement

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When you started saving for retirement, you were told you could save up a big pile of money, use the earnings for retirement income, and leave the same exact pile of money to your beneficiaries. This probably won’t happen, because the world and the financial markets have changed, along with Safe Income Withdrawal rates.

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2520 Douglas Boulevard, Suite 110
Roseville, CA 95661
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DISCLOSURE:

All of the information presented here is provided and intended to be used for general educational and informational purposes only and is not intended as a solicitation for you to buy or sell any financial product. None of the information presented is intended to give you specific tax, investment, real estate, legal, estate, or financial advice but rather to serve as an educational platform to deliver information. The ideas, thoughts, and strategies presented here are those of the Management Team and provide an insight to our views on Peak Financial Freedom Group, LLC. Every detail in this website is subject to change without notice. Seminar, radio shows, TV productions, book releases, magazine and book promotions are sponsored, promoted and paid for by Peak Financial Freedom Group, LLC.


2nd Opinion Package available to Qualified Retirees and Soon-To-Be-Retirees may include free consultations, a free retirement income plan, risk analysis, and fee analysis. In addition, a comprehensive written retirement income plan may be provided to those who complete the entire process. Qualified Retirees and Soon-To-Be Retirees must have a minimum of $1,000,000 of investible assets such as IRA’s, 401K’s from past employers, stocks, bonds, mutual funds, bank accounts, money markets, CD’s, etc., but DOES NOT include real estate, businesses, limited partnerships, 401K/retirement plans that can’t be moved to another plan, and other illiquid type assets.


All investments involve risk, can involve the loss of principal, and unless otherwise stated, are not guaranteed. Past performance is no indication of future performance and such information cannot be relied upon regarding future potential gains. Nothing is directly or indirectly guaranteed by this information. The planning and ideas presented herein are not suitable for all individuals or situations. Hypothetical examples are used to explain concepts and are not indicative of potential results you could receive; past performance is not a guarantee of future results; and results are not indicative of any particular investment or income tax situation; your results will be different and could be lower or higher. Consult your financial professional before making any investment decision. Insurance product features and benefits, such as guaranteed lifetime income riders, are subject to contract terms, limitations, fees, and the claims paying ability of the insurance company issuing the contract. The sale or liquidation of any stock, bond, IRA, certificate of deposit, mutual fund, annuity, or other asset to fund the purchase of any other asset including an annuity may have tax consequences, early withdrawal penalties, or other costs and penalties as a result of the sale or liquidation. Different assets can be complex and carry fees, costs, and surrender charges. If you place assets under management with Fiduciary Solutions
LLC, we are paid an advisory fee from Fiduciary Solutions LLC and if you purchase an annuity through us, we are paid commissions from an insurance company.


2019(1), 2020(2), 2021(3), and 2022(4) Five Star Professional Wealth Manager Award - Dan Ahmad and Jim Files have been nominated for and have won the 2019, 2020, 2021, and 2022 Five Star Wealth Manager Awards. Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. Once awarded, wealth managers may purchase additional profile ad space or promotional products. Award does not evaluate the quality of services provided to clients. The Five Star award is not indicative of the wealth manager’s future performance. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future. Award winners represent an exclusive group of wealth managers who have demonstrated excellence in their field by satisfying 10 objective selection criteria. For additional information on the Five Star award, including a complete list of the 10 objective selection criteria and their research/selection methodology, go to https://fivestarprofessional.com.


Investment advisory services are offered through Fiduciary Solutions, LLC, a California Registered Investment Advisor. Insurance products and services are offered through PFFG Insurance Agency LLC, a licensed insurance agency (CA Insurance License #0N14013). Peak Financial Freedom Group LLC is a financial planning and umbrella marketing organization, which enables the provision of multiple financial services under one brand. Peak Financial Freedom Group LLC, PFFG Insurance Agency LLC, and Fiduciary Solutions LLC are affiliated entities with common ownership and control.


Jim Files is licensed as an investment adviser representative with Fiduciary Solutions LLC (CRD #1620449) and is a licensed insurance producer with PFFG Insurance Agency LLC (CA Insurance License #0F06511). Dan Ahmad is licensed as an investment adviser representative with Fiduciary Solutions LLC (CRD # 1491561) and is a licensed insurance producer with PFFG Insurance Agency LLC (CA Insurance License #0732913).

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