Your Retirement Income Projection Part 1: Income Analysis

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Getting Started on Your Comprehensive Written Retirement Income Plan: Income Analysis

This article is part one of a three-part series in which 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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Why Should Retirees Avoid Volatility?

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Understanding the Impact of Large Portfolio Losses on Your Retirement Security

The following 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 volatility, and there was growth. But what we ultimately found out was nothing short of astonishing.

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Designing a Retirement Asset Allocation Strategy Part III: Growth

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Designing a Retirement Asset Allocation Strategy Part III: Growth

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

The following 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!

At Peak Financial Freedom Group, we 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.

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Designing a Retirement Asset Allocation Strategy Part II: Liquidity

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Designing a Retirement Asset Allocation Strategy Part II: Liquidity

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

The following 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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Answer These Three Questions to Know What You Really Want Out of Retirement

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Answer These Three Questions to Know What You Really Want Out of Retirement

Sharpen Your Focus on What Your Golden Years Mean to You

We’ve talked before about the importance of a written retirement income plan to set you up for an enjoyable retirement free from financial stress. However, there are three baseline 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?

Ask yourself the three questions below – and answer them honestly – to sharpen your focus on what retirement means to you. Then, use the added clarity to develop the best-written retirement income plan for you.

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Retirement Resolutions for the New Year

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Resolve to Strengthen Your Financial Future Regardless of Where You Are in Your Working Life

Each new year brings with it the promise of a fresh start, a chance to reassess, and to begin again. It’s the time for resolutions, big dreams, and goal setting–and maybe even for building a new life in retirement. Whether you’re nearing that new phase of life, or you’ll be working for many more years, setting retirement resolutions can help you prepare for and strengthen your financial future. Resolutions are easy to break, but with the right amount of intention and commitment you can get on track for a fulfilling and successful retirement –and stay there. No matter where you are in your retirement planning, the retirement resolutions below can help you to strengthen your retirement plans as you step into 2022.

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Busting the Myth That “All Annuities Are the Same – And They Are All Bad”

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Busting the Annuity Myth

Don’t Fall for These Untruths About a Misunderstood Retirement Income Vehicle

The following excerpt, written by Leslie Davis, is from our book, Momma’s Secret Recipe for Retirement Success. Get your copy here to read more!

It may sound silly, but I feel bad for the word “Annuity” because the poor little fella gets criticized daily! It seems like 50% of the individuals I’ve met think they hate annuities, while 50% think they love them. To me, an annuity is not just a type of financial vehicle per se, but also a collection of valuable benefits.

For example, let’s say you’re having a B-B-Q with your closest neighbors one evening. The neighbor to the right of you owns a beautiful new Tesla, it’s red add shiny, sitting on display in his driveway.  You overhear the owner of this beauty telling the neighbor on your left how much he loves cars and wants four more. It just so happens that this neighbor to the left owns a Yugo from the 1980s. The Yugo’s owner responds by saying, “I hate cars, they are the worst, I never want another car!” The word car recalls four wheels that get you from point “A” to point “B”, but you can’t put a Tesla and Yugo in the same “car” category, just like you can’t put all annuities into one “annuity” category.

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Designing a Retirement Asset Allocation for Safety, Growth & Income for Life

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An Examination of ‘Bucket #1’ and How to Fill It

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

In our book, Momma’s Secret Recipe for Retirement Success, we discuss “The 7 Rules To Live By For Retirement Security,” some of which we have also written about on this blog and you can find linked below:

  1. Avoid Large Losses – Use the 5%-10% Rule
  2. Minimize Fees
  3. Significantly Reduce Volatility
  4. Earn a Reasonable Return Rate
  5. Manage Taxation
  6. Generate “Certain Income” from Your Assets that Will Last for as Long as You Live
  7. Have a Written Retirement Income Plan

If you are like most retirees, you probably love the idea of having a “Retirement Planning Roadmap” like this, right? It’s designed to help you plan for retirement income you can count on – for life.

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Annuities 101

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Everything You Need to Know About this Polarizing Term

What would you guess is the number one 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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What Type of Retiree Are You?

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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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