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For decades you’ve been a dedicated saver for retirement, seen crashes and rallies, gotten a lot of advice, and have tried to do all the right things with your money, but you still worry. The biggest problem isn’t your lack of understanding; it’s that you don’t have an actual written plan.
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Here are 9 basic questions you must be able to answer for a safe and secure retirement, so you can stop worrying about your money:
#1 – How much money can you safely take out of your assets for income?
#2– How long will your money last?
#3– Does your portfolio guarantee you won’t run out of income for as long as you live?
#4– How can you protect your assets against volatility and large losses?
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Here are 7 Steps to follow for a Secure Retirement that will help you to stop worrying about your money:
#1 – Put your entire plan in writing, so you can feel free to spend your money – without guilt or fear
#2 – Understand the true risk you are taking right now and avoid all large market losses.
#3 – Eliminate your fear of running out of money by creating dependable monthly income “Paychecks” that will last for as long as you live.
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If you’re retired and need a roadmap for financial success try our “7 Rules To Live By For Retirement Security”:
*Number 1 – Avoid Large Losses – never go through another -50% stock market crash like 2008 again.
*Number 2 – Minimize the total fees you pay, both direct and hidden fees.
*Number 3 – Significantly reduce daily volatility.
*Number 4 – Earn a reasonable rate of return based on the amount of risk you’re willing to take, not by taking excessive risks to get the highest rate of return that rarely materialize.
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You saved so you could have a secure, worry-free retirement. Retired, or neared retirement, you constantly worry about your money because you are no longer receiving a paycheck.
You worry about your portfolio, all the volatility, how much you’ll lose in the next stock market crash, and your next statement.
You’re concerned about running out of money and how to turn your portfolio into dependable monthly paychecks that will last for as long as you, and your spouse, live.
You question whether you’ll earn a high enough rate of return on your assets.
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If you’re a retiree and nearing retirement you could be making these big mistakes with your money.
#1 – Investing Your money like you did when you were younger and working
#2 – Not knowing how much risk you have in your portfolio right now, therefore not knowing how much you could lose in the next stock market crash
#3 – Riding out all stock market losses, believing you’ll always receive a 10 percent rate of return from the stock market if you hang on.
#4 – Not knowing how much income you can safely take out of your assets and how long your money will last
#5 – Not knowing the total fees you pay both direct and hidden, believing you’re paying 1 percent in fees when you could be paying 3 percent or more per year.
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We believe the risk is simply a measure of how much you could potentially lose in the next stock market crash. Since 1929 the stock market crashes an average of 40 percent, every 7 years.
So as a retiree, or pre-retiree, are you willing to lose the same 40 percent to try and earn a higher rate of return?
If you have one million dollars saved for retirement, and you suffer a 40 percent loss, you’ve just lost 400,000 dollars and you now only have 600,000 dollars left. Can you afford this type of loss if you’re not able to take the same amount of income you planned from your retirement assets?
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You started saving money decades ago, so you wouldn’t have to worry about money during retirement. You saved, sacrificed, and budgeted carefully so that when you retired, you’d have no more worries about your money. How has this worked out for you?
You’ve saved a lot of money, but you’ve found you worry more about your money now than you ever did before. You find yourself worrying more and more about big stock market losses.
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The reason you first started saving money was to create a dependable income flow that would replace your paychecks and last for as long as you lived, once you retired. You saved money while you were working so you wouldn’t have to worry about money when you retired. The big problem is, you may have incorrectly been taught you have to invest your assets for growth instead of for dependable, even guaranteed, lifetime income.
Did you invest your money to watch it go up and down on a daily basis?
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When you started saving for retirement, you were told you could save up a big pile of money, use the earnings for retirement income, and leave the same exact pile of money to your beneficiaries. This probably won’t happen, because the world and the financial markets have changed, along with Safe Income Withdrawal rates.
DISCLOSURE:
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 security or financial product. The content is developed from sources believed to be providing accurate information. 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. Some of this material was developed and produced by Peak Financial to provide information on a topic that may be of interest. 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 $500,000 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.
Past performance is no indication of future performance and such information cannot be relied upon regarding future potential gains. Investing involves risk. There is always the potential of losing money when you invest in securities. Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining market. Advisors and agents may only conduct business with residents of the states or jurisdictions in which they are properly registered or licensed and not all of the securities, products and services mentioned are available in every state or jurisdiction.
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. Please consult legal or tax professionals for specific information regarding your individual situation. Peak Financial does not offer tax or legal advice. 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), 2022(4), 2023 (5) and 2024 (6) Five Star Professional Wealth Manager Award - Dan Ahmad and Jim Files have been nominated for and have won the 2019, 2020, 2021, 2022, 2023 and 2024 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 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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