In our book, Momma’s Secret Recipe for Retirement Success, we share our “7 Rules To Live By For Retirement Security.” Today, we want to focus on one of them: The importance of having a comprehensive written retirement income plan.
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.”
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!
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.)
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.
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:
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.
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 – specifically, annuity lies people believe about fixed index annuities with income riders.
This is Part Two of our two-part Annuity Myths series. If you missed Part One, read it here.
Today we’re back with more facts about annuities. Specifically, we’re sharing content to bust common annuity myths 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.
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 annuity myths – specifically, annuity lies people believe about fixed index annuities with income riders.
This is Part One of our two-part Annuity Myths series.
If your goals are to:
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.
We’ve told you previously about the one 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. Of course, they’re 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.
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.
