Episode 9: Financial Planning for the Worry-Prone
It’s completely understandable to worry about the state of your finances, especially as you get closer and closer to retirement. In this episode’s Case Study, Dan and Jim discuss the best financial plan for chronic worrier, Gary. For them, the best way to combat financial stress and fears is to minimize the risk in your portfolio and then create a lifetime income projection so that you know exactly what to expect for your financial future. This works by simplifying your financial life into one page so that you can see exactly where your income sources will come from for the duration of your retirement; whether from savings, your assets, revenue, the government, or your investments.
Further along in the show, Dan and Jim discuss in more detail how important it is to have income in retirement that will last for your entire life. They talk about the different stages of financial planning, going from asset accumulation where you’re working and saving up to asset preservation once you retire and are trying to make your money last. They also touch on the different types of financial advisors and how to know if your advisor is the right one for your unique financial needs.
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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 #0N14013, 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. Jim Files CA Insurance License #0F06511 Dan Ahmad CA Insurance License #0732913
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