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Coronavirus: What the Viral Epidemic Means for Investors

Volatile Markets and the Ongoing Spread of the Virus are Causing Economic Uncertainty

Last week saw the worst week on Wall Street since 2008, as the Dow fell into correction likely due to the outbreak and spread of COVID-19, commonly called novel coronavirus. A market correction is a nerve-wracking event for investors, but the current uneasiness in the markets is no cause for panic.

Market Impact

While the spread of COVID-19 is atypical, market correction is not. In fact, it’s an entirely normal process, and not altogether unexpected after experiencing the longest-running bull market on record. There have been 22 market corrections since 1974, and they are aptly named because the market usually “corrects” itself and returns prices to their longer-term trends. While the coronavirus is likely to cause economic impact into at least the second quarter of 2020, historically, Wall Street’s reaction to these types of epidemics has been short-lived, including in the recent past.

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Four Reasons to Think Twice Before Buying a Vacation Home

When you spend most of your year toiling away at work, it’s natural to want to make the most of your vacation time. For many Americans, this means dreaming of the opportunity to own a vacation home where they can relax and recharge, while possibly earning rental income, too.

Before you pull the trigger on your own vacation home, however, you may want to think twice. While it certainly offers the opportunity for enjoyment and making meaningful memories, vacation homes also come with a few drawbacks.

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5 Essential Items to Pack on Your Next Trip

essential items to pack

If you’re traveling this summer, or plan to travel often in retirement, there are certain staples you can bring wherever you go. When packing for a trip, everyone immediately thinks of underwear and a toothbrush, but there are other essentials that don’t come to mind as easily. And besides, you can buy a new toothbrush or extra pair of underwear pretty much anywhere in the world. Here are 5 essential items to pack on your next trip.

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What is Your Desired Retirement Lifestyle?

desired retirement lifestyle

Even though finances are important, life isn’t just about money. Rather than have your finances dictate your retirement lifestyle, your retirement lifestyle can help dictate how you plan for your finances. After all, two people with similar amounts of money could have completely different concepts of what constitutes their desired retirement lifestyle. No matter if your priority is traveling, working part-time for fun, or just enjoying your free time, it’s important to have a comprehensive financial plan in place. Whether you’re a few years from retirement or adjusting to retirement, spend time thinking about your desired retirement lifestyle.

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Spending Your Free Time in Retirement

If you’re planning on taking a vacation, it’s probably something that you’ve looked forward to for a while now.  And, that’s what retirement is about…  It’s your 30 or more year vacation.  Whether you’re traveling, volunteering, taking up new hobbies, or relaxing with friends and family, retirement is a time to unwind and do something you enjoy. One thing that’s great about life in retirement is the freedom you have to choose how you want to spend your time, and the people you want to surround yourself with. So, here are some potential ideas to consider when spending your free time in retirement.

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Lifestyle Tips to Consider for Retirement

You’ve worked the majority of your life, and deserve to have many blissful years ahead. With a proper plan and execution strategy in place, you should be on track to accomplish all of your retirement goals and dreams. If it’s been a little while since your last retirement review, then CLICK to request your complimentary, no-obligation meeting.

Here are 3, quick and easy lifestyle tips to consider for your life in retirement.

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Avoid Ageism in Retirement

Despite the fact that America has an aging population, there is much evidence of ageism around us. The way we perceive older adults can limit their roles in society and a pervasive negative view of aging can have a psychological impact on us. Sometimes ageism can be seen in a seemingly benign birthday card depicting age as something to laugh at or feel bad about, but other times it takes the form of workplace discrimination. And, it’s not just younger people who can be ageist, it can be people 50 and over as well. That’s why it’s important to be mindful of how you can avoid ageism in retirement.

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Plan to Maintain Your Independence This 4th of July

Many Baby Boomers are watching their parents age to the point where they should move out of their home – and refuse. Maybe it’s that they are stubborn when it comes to their independence, or maybe they refuse to be a burden on their children. While these sentiments are admirable, older children can be faced with daily anxiety about their elderly parents’ wellbeing alone in their homes. At the same time, they can probably sympathize with the desire to remain in one’s own home, a comfortable and familiar environment where one is independent. If an elderly relative’s experience with aging in place has you thinking about how you will stay in your home, consider these home renovations. Even after the fireworks are over this 4th of July, you’ll be thinking about how to maintain your independence throughout retirement.

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Are You Ready for Endless Summer?

Are You Ready for Endless Summer?

It’s time to start planning your summer, and whether you’re going to laze around on the beach, visit friends, or take a trip, it’s important to also start thinking about your retirement plan. On average, we spend more time every year planning for vacations than planning for retirement – and retirement is much longer than any vacation you will take. Summer is definitely a time to relax, but it’s also the perfect time to think about what you want your future retirement, the endless summer, to look like.

Start off with the “What”

If you and your spouse are traveling together, use the hours on the plane or highway to start discussing what you want your retirement to look like, your goals, and general timeline. If you have time off, you can “practice” retirement by trying out new activities like volunteering, spending more time with friends and family, or picking up a new or forgotten hobby, it can be a good way to plan how you will fill your time and find happiness in retirement. Consider if you want to travel a lot when you first retire and if you will move. Once you have a vision for your retirement, you can move onto figuring out how much it will cost.

Move on to the “How”

Think about how you afford the vacations you currently take: Do you save for them, or have a specific vacation budget? Planning for how you will afford retirement is a much more detailed process, which is why it helps to have a professional at your side. Start thinking about how much your desired lifestyle in retirement will cost you, and then begin calculating how much you will need to withdraw from your retirement accounts. It’s also important to consider any income from your investments, and plan for when you should start taking Social Security.

Think of all the details that go into planning a vacation: There are the travel arrangements, the hotel, activities, and setting a budget. While it’s certainly important to enjoy both vacation and retirement, the stakes are much higher when it comes to retirement and there are even more elements that go into planning this 30-plus year vacation.

Here at Peak Financial Freedom Group, we can help you create a plan for the longest vacation of your life. We’ll take your unique retirement goals into account, and help you put all the pieces of the puzzle together. If you’re taking the time to plan a vacation this summer, consider also taking the time to come in for a no cost, no obligation financial review.

Life in 2050

Life in 2050

2050 seems like a long time away, but 2019 seemed far away in 1989. Back then, did you think a cell phone would fit into your pocket? Or that you could shout at Alexa to order you more paper towels without getting off the couch? Technology has transformed the way that we live over the last 30 years, and there’s no telling how it will change life by 2050. Here are some predictions for what your retirement in 2050 could look like.

By 2050 there will likely be 9 billion people on earth, and the majority will live in cities. Our cities may not look like a science-fiction fantasy, but virtual and augmented reality will transform the way we get information and interact with our surroundings. The augmented reality market is expected to reach $55 billion by 2021 and there is increasing demand for augmented reality in healthcare, construction, retail, and e-commerce. For example, augmented reality will help engineers and architects see what a building project would look like before it’s built and make alterations to the plans ahead of time. This will mean our cities can be built faster and better.

The population will have a higher average age due to increased lifespans. Scientists predict that on average, women will live to be 89 to 94 and men will live to be 83 to 86 by 2050. Expert foodies are hopeful that there will be less factory farms and more small and regional producers. If this is the case, it will be easier for people to eat fresh, local food instead of processed food. This could not only contribute to your happiness, but your health as well. A longer life is a gift, but one you must plan for: Think about if your nest egg will support you in the year 2050 and beyond. An evolving retirement plan could be necessary if your retirement is going to last 30 plus years.

The healthcare industry may also focus more on individual health in relation to happiness, and general wellness. There are already breakthroughs in the fields of gene therapy and personalized medicine. Medical advancements come at a cost, and there is already a rising cost of healthcare in retirement that you should plan for. A solid retirement plan anticipates the costs that Medicare care will not necessarily cover.

There are many reasons to look forward to the future, and also reasons to worry. There’s no telling how retirement could be different in 2030, let alone 2050. If you’re concerned about outliving your nest egg or market volatility, contact the professionals at Peak Financial Freedom Group. We can help you create a retirement plan that makes you look forward to your future. Click here to schedule you no cost, no obligation financial review today.

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

DISCLOSURE: All presentation data is provided and intended to be used for general educational purposes only and is not intended as a solicitation for you to buy or sell any financial product. None of the material in this presentation is intended to give you, nor are the presenters engaged in giving you, specific tax, investment, real estate, legal, estate, retirement, or financial advice, but rather to serve as an educational platform to deliver information; nor is it intended to show you how the strategies presented can specifically apply to your own tax, investment, estate, financial, or retirement position, but rather to offer an idea of how these principles generally may apply.

Stocks, bonds, or mutual funds have risks and can lose principal, even with a stop loss, and there is no guarantees of gains, as past performance is not indicative of future positive investment results. The sale or liquidation of any stock, bond, IRA, certificate of deposit, mutual fund, annuity, or other asset to fund a new portfolio and/or annuity may have tax consequences, early withdrawal penalties, or other costs and penalties as a result of the sale or liquidation. You can’t invest directly into a stock market index. A fixed index annuity with an income rider can protect your savings from losses and provide you guaranteed lifetime income, but you could incur surrender charges, gains aren’t guaranteed, you’ll pay a fee, and guarantees are backed by the financial strength claims paying ability of the issuing annuity company.

Illustrations/projections displayed within this presentation are hypothetical in nature and should not serve as the sole determining factor in making financial decisions. Consult with a qualified investment, tax, legal, and/or retirement advisor before making any decisions. By contacting Peak Financial Freedom Group, you may be offered additional information regarding the purchase of financial products. Seminars, radio shows, TV productions, book releases, magazine and book promotions are sponsored, promoted and paid for by Peak Financial Freedom Group, LLC. If you place assets under management with our firm, we are paid an advisory fee, and if you purchase an annuity from our firm, we are paid commissions from an insurance company.

Investment Advisor Representatives of and Advisory Services offered through Fiduciary Solutions, LLC, a Registered Investment Advisor. Peak Financial Freedom Group LLC is primarily a fixed insurance sales organization and provides no Advisory Services. PFFG Insurance Agency LLC, CA License #0N14103, is a licensed insurance agency and provides no Advisory Services. Peak Financial Freedom Group LLC, PFFG Insurance Agency LLC, and Fiduciary Solutions LLC are separate affiliated entities. Insurance products and services provided by PFFG Insurance Agency LLC and independent agents.

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