What Type of Retiree Are You?

type of retiree

Everyone Approaches this New Chapter of Life with a Different Outlook

Retirements are like snowflakes; no two are going to look the same. Some people dream of a retirement that’s full of adventure and travel, while others imagine their retirement surrounded by family and good books. And just as there are many ways to envision retirement, there are multiple types of retirees, too.

Nancy K. Schlossberg, author and former counseling professor, discovered throughout her work that there are six main types of retirees. Read on to learn more about each one – and to determine which type of retiree you may be.

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Understanding the Biden Tax Plan

Biden Tax Plan

The Democrats’ Tax Plan Would Raise Capital Gains and Corporate Tax Rates

Monday saw the release of the Democrats’ full tax proposal, which details their plan to pay for expanding access to paid family leave, education, and healthcare, as well as efforts to combat climate change. The proposal is expected to provide more than $2 trillion in new revenue over the next ten years, mostly from high-income households and companies, and the House Ways and Means Committee is expected to vote on it this week.

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Use the Correct Process for Financial Success

financial process

Are You Among the 99% Following a Faulty Retirement Plan?

The following is an excerpt from Momma’s Secret Recipe for Retirement Success, by Dan Ahmad, Jim Files, and Jack Canfield. Get your copy here!

Many retirees do not have their assets allocated properly to give themselves the highest probability that they can receive a high level of consistent income, will never run out of money for as long as they live, and will never suffer a big stock market loss like 2008 again.

In a previous blog, we described in detail the differences between Stage One of Retirement Planning – Asset Accumulation, and Stage Two of Retirement Planning – Income Distribution and Asset Preservation.

When you meet with your financial advisor, even after you’ve retired, the conversation will often be focused on your portfolio. Your advisor may talk about:

  • The growth of your portfolio (even though it actually hasn’t probably grown much).
  • How the market is doing “so well” and you need to ride the wave.
  • How you are diversified by having your 20-30 mutual funds.
  • Adding bonds to the portfolio, if you are worried about risk.
  • How you are in it for the long-term and no matter what, you should “ride out all market volatility.”
  • How they have the best money managers.
  • How they will get you high rates of return.
  • Maybe they will throw in some technical terms like alpha, beta, Sharpe ratio, and standard deviation.
  • How it’s best to defer IRA distributions as long as possible, until age 70 1⁄2, to minimize income taxes.

The advisor might say you are now invested moderately, or conservatively, but they probably don’t define what this means in potential losses. So, your advisor says “moderate” or “conservative,” and you are thinking “low risk,” even though your current portfolio could lose -30%, -40%, or even -50% or more. In many situations, the risk is caused by the portfolio’s primary focus on growth.

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Adjusting Your Retirement Mindset

retirement mindset
How to Manage Common Challenges in this Phase of Life

At Peak Financial Freedom Group, we work with people every day who are preparing for retirement. We talk about when they’d like to retire, any goals they have, and what they envision their retirement lifestyle looking like. We review things like assets and liabilities, and we discuss cash flow. We use conservative risk-reduction strategies to help them protect their investments and provide the opportunity for growth. In short, we help our clients start working toward achieving the financial freedom they desire so they can enjoy a retirement free of money fears.

Alongside all this financial preparation, though, we have found that it’s also important to prepare your mindset for retirement. It represents a significant life change – and a massive psychological shift, too. That’s why you shouldn’t go into this phase of life unprepared from any standpoint. So, let’s discuss a few common mindset issues, and what near-retirees and recent retirees can do to overcome them.

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Why Money Brings Up Such Powerful Emotions

money and emotions
Tips to Tame the Fear and Anxiety You May Feel About Your Finances

The following content has been adapted from Chapter 24 of Momma’s Secret Recipe for Retirement Success, by Dan Ahmad & Jim Files.

For many people, money is scary. It produces anxiety and many other powerful emotions, too. Oftentimes, the root of fear or anxiety is that you don’t truly understand your finances. You may even blame yourself for your “lack of financial intelligence.” However, we believe that for the overwhelming majority of retirees, the confusion and lack of understanding have nothing to do with personal shortcomings. If you feel confused and don’t understand your money, it’s because you don’t have an actual plan in writing.

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What is a ‘Safe’ Income Withdrawal Rate?

income withdrawal rate
It’s Crucial to Ensure You Won’t Run Out of Money in Retirement

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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What is the Only Thing Worse Than a Stock Market Loss?

investment portfolio
High Fees Can Devastate Your Portfolio and Your Chances for Long-Term Success

Stock market losses can devastate a portfolio and your chance for long-term success, but today we’re going to talk about something that could be even more devastating than a stock market loss. You probably think, “What could that be?” because stock market losses can ruin your retirement. The answer is … high fees!

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The Golden Rule of 5% to 10%

the golden rule
Protecting Yourself Against Big Portfolio Losses

Because of how painful portfolio losses can be to retirees, we created The Golden Rule Of 5% To 10%. The Golden Rule Of 5% To 10% states you should not have your assets positioned to lose more than -5% to a maximum -10% of your total portfolio, even if the stock market crashes and loses -50% or more.

If you are like many retirees, right now you may be very nervous, anxious, and worried about your money simply because you are afraid of suffering through the next big stock market crash. You are not sure how much you could lose, but you know at this time in your life, a big loss could be devastating. If your money is currently unprotected in the stock market, you should be nervous because none of us like uncertainty. Following The Golden Rule Of 5% To 10% may help decrease your worries.

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Adjusting to Retirement: 8 Helpful Tips

adjusting to retirement
Many Retirees Find This New Phase of Life More Challenging Than They Bargained For

Many new retirees are shocked to find that, though they have dreamed for decades about how they would enjoy their golden years, adjusting to retirement is actually quite difficult at first. On the surface, it would seem like leaving the stress and busyness of work behind and embracing a daily schedule of leisure would be ideal, but many retirees find it hard to navigate this “new normal.” That’s because retirement can often mean a loss of identity, and most people don’t prepare for this psychological challenge. Whether you identified as a lawyer, banker, chef, teacher, or small business owner, it’s easy to begin to question who you are now that you’ve retired.

Other issues can trip up new retirees, as well. While you may have more time for hobbies and the people you love, you may also have less money and feel less purpose in life. This can lead to anxiety and depression and, in fact, a study in the Journal of Population Aging recently found that retirees are twice as likely as working people to suffer from these mental health issues.

So, what is a new retiree to do? Below we’ll discuss eight helpful tips for adjusting to retirement that will help you navigate the challenges you may not have been expecting.

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Peak Financial Freedom Group
2520 Douglas Boulevard, Suite 110
Roseville, CA 95661


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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