Author: Peak Freedom Financial Group

Section Two of Your Comprehensive Written Retirement Income Plan: Income Tax Analysis

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The second part of your comprehensive written retirement income plan is an income tax analysis.

How to Eliminated Your Fears of Paying More Than You Expect to In Taxes

In three previous articles, we discussed all the details of the very first step in creating a comprehensive written retirement income plan: the Retirement Income Projection. If you didn’t get a chance to read it yet, you can start here. Now, we move on to the second step in your planning, which is the all-important Income Tax Analysis.

Why are we continuing to discuss this topic? Because having a comprehensive written retirement income plan is just that important!

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Your Retirement Income Projection Part 1: Income Analysis

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Start your comprehensive written retirement income plan with the critical first step of income analysis.

Getting Started on Your Comprehensive Written Retirement Income Plan

The following article is part one of a three-part series where we’ll dig deeper into the first aspect of preparing your comprehensive written retirement income plan: the retirement income projection. This series is based on content that originally appeared in our book, Momma’s Secret Recipe for Retirement Success, and you can grab your copy here.

We’ve shared before how important it is to have a comprehensive written retirement income plan, and today we’re delving into the details of getting started. Step one in the four-part process is to do a Retirement Income Projection, which consists of three aspects:

  1. Income analysis
  2. Risk analysis
  3. Fee analysis

In this article, we’ll walk you through the income analysis step.

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Dan and Jim Win the 2023 Five Star Wealth Manager Award

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For the 5th year in a row, Dan Ahmad and Jim Files have won the exclusive 2023 Five Star Wealth Manager award. The Wealth Manager award winners are identified based on a rigorous research process and selected from among thousands of wealth managers for their knowledge, service, and experience. Dan and Jim are part of an exclusive group of wealth managers who have demonstrated excellence in their field by satisfying the objective selection criteria.

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Retirement Asset Allocation Strategy: Part II

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retirement asset allocation

How to Fill Your Second Bucket in Our ‘3 Bucket Safe Money Approach’

This article features content adapted from the book Momma’s Secret Recipe for Retirement Success by Dan Ahmad, Jim Files, and Jack Canfield. Get your copy here!

We’ve said it before, and we’ll say it again: You need a comprehensive, written retirement income plan if you’re serious about your retirement security. Your plan needs to tie everything about your money together, which we recommend doing with what we call the “3 Bucket Safe Money Approach.”

We wrote about Bucket #1 here in our first installment of articles on this topic, and you’ll want to read it before you continue below. Bucket #1 is the first step in your planning – the one where you determine how much income you need for the rest of your life and allocate the necessary assets to this pot of money. Bucket #2, which we’ll discuss in this article, is the second step in your planning. This is where you determine how much liquidity you need and allocate assets to this second pot of money accordingly.

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What is a ‘Safe’ Rate for Retirement Income Withdrawal?

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Plan Ahead So You Won’t Out-Live Your Nest Egg

What does the phrase “safe income withdrawal rate” mean to you? Most people would answer, “the amount of income you can withdraw from your assets without the fear of running out of income during your lifetime.” This seems cut and dried. But you have to look at what the word “safe” means to different people.

“Safe” to some people might actually mean “safer than something else,” such as you stating that you are “driving safe” because you are going 80 miles per hour while everyone else on the road is driving 90 miles per hour, but the posted speed limit is 65 miles per hour. And then, “safe” to other people might mean the chance of anything negative happening is 0%. In planning for retirement, safe better mean safe, something you can count on for sure. Safe better not mean “kind of safe.”

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Do You Know the One Thing WORSE Than a Stock Market Loss?

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Learn What Can Devastate Your Portfolio – and Your Chances at Long-Term Success

Every investor knows that stock market losses can potentially devastate a portfolio – and your chances for long-term financial success, too. However, today we’re going to talk about something that could be even more devastating than a stock market loss. Truly!

Now, you’re probably thinking, “What could that be?” because stock market losses can ruin your retirement. Here’s the answer, which far too many retirees and near-retirees overlook: high fees!

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Do You Know the Two Stages of Money in Retirement?

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Asset Accumulation and the Important Shift to Asset Preservation

At Peak Financial Freedom Group, we believe that the thing our clients want more than anything else is retirement security. Fortunately, there are seven rules to live by that will help you achieve them, and we’re sharing the first lesson here with you today. (If you want all seven rules right now, we detail all of them in our book, Momma’s Secret Recipe for Retirement Success.)

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10 Reasons to Use a Fixed Index Annuity

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How to Guarantee You Won’t Outlive Your Nest Egg

The following content is excerpted from our book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, and Jack Canfield, with contributions from multiple financial advisors across the US.

Most of our clients share a common fear: running out of money in retirement. We tell them that there are at least ten compelling reasons to put some of their more serious money—money needed to produce guaranteed retirement income for life—into a fixed income annuity with an income rider. Below, we’ll go in-depth on each of these reasons.

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An Income Stream You Can’t Outlive

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The Holy Grail of Retirement Planning

The following content is excerpted from our book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, and Jack Canfield, with contributions from multiple financial advisors across the US.

Every retiree and pre-retiree worries that they could run out of money during retirement. Most people literally fear there could be a day in their future when their income stops, and they end up poor. During my 35 years as a financial planner, the most common and pressing questions clients ask me are:

  • How can I retire and stay retired?
  • How can I guarantee I will avoid running out of money during retirement?

People know there are many factors that can cause their assets to run out and their income to stop before they die, such as large stock market losses or a chronic illness—they just don’t know how to protect themselves against such catastrophic events. The good news is that there are solutions available today for all of these risks and potential problems.

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Peak Financial Freedom Group
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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 security or financial product. The content is developed from sources believed to be providing accurate information. 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. Some of this material was developed and produced by Peak Financial to provide information on a topic that may be of interest. 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 $500,000 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.

Past performance is no indication of future performance and such information cannot be relied upon regarding future potential gains. Investing involves risk. There is always the potential of losing money when you invest in securities. Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining market. Advisors and agents may only conduct business with residents of the states or jurisdictions in which they are properly registered or licensed and not all of the securities, products and services mentioned are available in every state or jurisdiction.

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. Please consult legal or tax professionals for specific information regarding your individual situation. Peak Financial does not offer tax or legal advice. 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), 2022(4), 2023 (5) and 2024 (6) Five Star Professional Wealth Manager Award - Dan Ahmad and Jim Files have been nominated for and have won the 2019, 2020, 2021, 2022, 2023 and 2024 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 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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