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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Should I Hide My Money Under the Mattress or Trust an Insurance Company?

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A life insurance company offering a fixed index annuity with an income rider offers additional security.

Why No Other institution can match the Safety of the life insurance industry

The following 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 was written by Laura Barron, president and co-founder of Barron Financial Group, LLC.

Hypothetical Case Study: Twenty years ago, Sarah and Mark were 55 years old as they reviewed their plans for retirement. They both had done an excellent job accumulating assets of well over a million dollars. Mark felt confident they could trust the expert advice of their broker at a large firm to continue making money for them in mostly stock market investments during retirement. Sarah and Mark were very confident the income from their stock market investments, Social Security, and a small pension would allow them to self-insure for long-term care, stay fully invested in the market, and live a very comfortable retirement in a nice neighborhood. They were totally confident they would never run out of money.

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Your Retirement Income Projection Part 3: Fee Analysis

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Fee analysis is an important part of your retirement income projection and here’s what you need to know.

Do You Know How Much You’re Shelling Out in Fees?

This article is part three of a three-part series in which we 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.

If you need to start at the beginning of this three-part series, click here now.

In our second installment, we shared details on the second step in developing your comprehensive written retirement income plan, which is a risk analysis. As a reminder, this series is all about completing the three aspects that makeup step one in our four-part process of completing your Retirement Income Projection:

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

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

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Your Retirement Income Projection Part 2: Risk Analysis

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: Risk analysis is the important second step in developing your comprehensive written retirement income plan.

The Second Step in Your Comprehensive Written Retirement Income Plan

The following article is part two (risk analysis) of our three-part series on the critical steps involved in 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.

In our last installment, we shared details on the very first step in developing your comprehensive written retirement income plan, which is a retirement income analysis. As a reminder, this series is all about completing the three aspects that makeup step one in our four-part process of completing your Retirement Income Projection:

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

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

 

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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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Designing a Retirement Asset Allocation Strategy Part III

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Develop a smart retirement asset allocation strategy to set yourself up for a comfortable retirement.

How to Focus on Growth and Fill Your Third Bucket

The following article on retirement asset allocation strategy 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!

At Peak Financial Freedom Group, we talk a lot about retirement asset allocation strategy, and that’s because we want to encourage you to get serious about your retirement security. We believe strongly in a comprehensive, written retirement income plan to tie everything about your money together, which we recommend doing with what we call the “3 Bucket Safe Money Approach.” If you’ve been reading our blog for a while now, you’ve seen articles about Bucket #1 and Bucket #2, where you allocate assets to retirement income and liquidity. Now, we’re going to discuss the importance of Bucket #3 in your retirement asset allocation strategy.

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Why Should Retirees Avoid Market Volatility?

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Stock market volatility can have a significant impact on your retirement plan and your financial security.

Understand How Big Portfolio Losses Could Impact Your Retirement Security

The following content on market volatility and the risk it poses to retirees is adapted from our book, Momma’s Secret Recipe for Retirement Success. Get your copy here to read more!

We think 15 years is a long time. If you’re 70, then 15 years could represent your life expectancy. That’s why we did significant research on the S&P 500 Index starting in 1999 and ending in 2013, back when we finished writing the text of one of our books titled Don’t Bet the Farm. Because we work with retirees, we wanted to review what had happened over the previous 15 years in the stock market to prepare for what types of pitfalls may lie ahead in the next 15 years based on normal average life expectancies. There was market volatility, and there was growth. But what we ultimately found out was nothing short of astonishing.

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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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Three Critical Questions to Help You Know What You Want Out of Retirement

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know what you want out of retirement

Gain Clarity on What You’d Like Your Golden Years to Look Like

We may sound like a broken record, but this bears repeating: A written retirement income plan is critical in setting you up for an enjoyable retirement free from financial stress. However, there are three critical questions you need to answer for yourself in order to clarify and solidify your plan. After all, any retirement plan can only be effective if you truly know what you want out of your retirement, right?

Take the time to ask yourself the three questions below, and make sure you answer them honestly. This exercise will help you sharpen your focus on what retirement means to you and what you want out of this phase of life. Then, use the added clarity to develop the best-written retirement income plan for you.

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Annuities 101: A Primer on a Polarizing Term

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Everything You Need to Know About Fixed Index Annuities and if They May Be Right for You

What would you guess is a key reason why people decide not to purchase a fixed index annuity with an income rider as part of their overall retirement income plan? It’s not because of surrender charges, fees, or lower returns. It’s because the benefits of a fixed index annuity with an income rider simply sound too good to be true.

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