Making the Shift from Asset Allocation to Asset Preservation
At Peak Financial Freedom Group, we believe that the thing our clients want more than anything else is retirement security. Fortunately, we believe in seven rules to live by that will help you achieve it, 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.)
A Strategy to Guarantee You Won’t Outlive Your Retirement Savings
This content is excerpted from our book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, Jack Canfield, and others. The contribution below is from Robert M. Ryerson, CFP, CITRMS, CLTC.
Most of our clients share a common fear: running out of money in retirement. We often tell them that there are at least ten compelling reasons to consider putting 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 fixed index annuity benefits.
The following content is excerpted from our book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, and Jack Canfield. The book is also full of valuable contributions from other leading professionals from around the world, including the below from Robert M. Ryerson, CFP, CITRMS, CLTC. He tells a tale of three very different investors, with the very same problem… and the safe and sound solution available to all of them.
It is common for retirees and pre-retirees to worry that they could run out of money during retirement. Some people literally fear there could be a day in their future when their income stops, and they end up poor. During my 35-plus 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.
Learn the Truth to Optimize Your Retirement Income Plan
The following educational content is excerpted from our book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, and Jack Canfield, with valuable contributions from other leading professionals from around the world. This excerpt was contributed by John Kirker, fiduciary financial advisor, and reviews eight more annuity myths and lies – specifically, annuity lies people believe about fixed index annuities with income riders.
This is Part Two of our two-part Annuity Myths series.
Today we’re back with more facts about annuities. Specifically, we’re sharing content to bust common annuity myths and lies that can damage your long-term finances if you believe them. Remember, it’s always important to educate yourself, do your own research, and speak with a financial professional you trust when you’re trying to determine whether a specific financial product is right for you. Many people find more peace of mind and financial security with a fixed index annuity with an income rider, so learn more about their benefits below.
Setting the Record Straight on Fixed Index Annuities with Income Riders
The following content is excerpted from the book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, and Jack Canfield, with valuable contributions from other leading professionals from around the world. This excerpt was written by John Kirker, fiduciary financial advisor, and reviews ten common annuity myths – specifically, annuity lies people believe about fixed index annuities with income riders.
This is Part One of our two-part Common Annuity Myths series.
If your goals are to:
Protect your money against 100% of all stock market losses.
Guarantee you won’t run out of income for as long as you live.
Receive the same or higher income for as long as you live regardless of stock market volatility or how long you live.
Pay a relatively low total annual fee of approximately 1%.
Have the opportunity to earn a competitive rate of return.
Defer 100% of the taxation on any growth until you take distributions.
Never subject current or previous gains to future stock market losses.
Pass 100% of all remaining funds at your death to your beneficiaries.
One of the only, if not the only, financial instruments you can use to do all of these things is a fixed index annuity with an income rider.
Understanding More About Fixed Index Annuities with Income Riders
There is one key reason why people say they decide not to purchase a fixed index annuity with an income rider as part of their overall retirement income plan – and it’s not because of surrender charges, fees, or lower returns. In fact, it’s often because the benefits of a fixed index annuity with an income rider may simply sound too good to be true. Of course, the contractual benefits are NOT, and you can read more about that here if you need a refresher.
So, let’s assume you’re ready to move forward with your fixed index annuity with an income rider – where do you start and how, exactly, does it work? We’re here to walk you through it.
When You’re Retired, You Need to Be Sure Your Finances Are on Track
With the articles we publish here on our blog, many of which are based on content in our book Momma’s Secret Recipe for Retirement Success, we hope to take you down the path of “financial enlightenment.” We do it because some of the facts and strategies we share may be the complete opposite of what you have been told before. We want you to think differently – and to plan your retirement differently – because you have no other option than to succeed.
Understanding Income Riders and Sequence of Return Risk
This content is an excerpt from the book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, and Jack Canfield, with contributions from other leading professionals from around the world. This excerpt below was written by Dave Lopez, a recognized retirement planning speaker and writer.
Myth:
You shouldn’t buy an annuity because the stock market is the best place for you to invest for dependable retirement income that will last for as long as you live.
You are retired and want a high level of dependable income from your savings that is guaranteed to last for as long as you live. You research on your own. You talk to your Advisor. You even ask friends and family what to do, because you desperately want to know the truth about how to protect your principal and guarantee you won’t run out of income late in life.
In recent weeks, we have shared the first three steps in creating a written comprehensive retirement income plan. If you haven’t yet read about those steps, we recommend you head over to our blog to get caught up.
In this fourth and final installment, we are sharing the fourth step in this planning process, which is getting your plan details recorded in writing.
It’s Time for an Analysis of Assets to Beneficiaries
In past articles, we shared everything you need to know about the very first step in creating a comprehensive written retirement income plan: the Retirement Income Projection. Next, we discussed the second step in your planning, the Income Tax Analysis. If you didn’t get a chance to read those articles yet, you can start here.
In this final installment of this series, we give you details about the third step in your comprehensive written retirement income planning: an analysis of assets to beneficiaries. Having a comprehensive written retirement income plan you can rely on is incredibly important to your financial health in retirement, so let’s take a look at this final step.
