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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You might also like to learn more about our book Momma’s Secret Recipe for Retirement Success
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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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