Tag: retirement planning

Questions You Must Be Able To Answer To Have A Successful Retirement

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Most retirees have not gotten answers to their most pressing questions about retirement from their current brokers, advisors, employers, or own research.

If you can’t answer basic questions about your retirement, how can you expect to succeed, feel secure, and feel confident you are making the right decisions about your money? You can’t feel good about it. If you can’t answer basic questions about your money, it means your plans for retirement are based on hope and luck. It means you are hoping you will be lucky, and things will work out. Your broker or advisor might seem to know a lot about your portfolio and managing the assets because that is what they mainly talk to you about. Your broker or advisor may say you are diversified, state they have great money managers, let you know you are positioned for good rates of return, tell you if you want less risk they can put a larger percentage of your assets in bonds, and will often confirm you can expect an 8%-10% average annual rate of return. However, when you ask the important questions about your money, they don’t have any answers. Moreover, your broker or advisor has never put your plan in writing. This means your current broker or advisor is comfortable with you basing your plans for retirement on hope and luck. Are you? In our 50+ years of experience, we have found there is certain data (see diagram on following page) you must have to build a secure plan and to be able to stop worrying about your money:

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What is a ‘Safe’ Rate of Retirement Income Withdrawal?

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You need a safe rate of retirement income withdrawal to protect your financial security throughout retirement.

Plan Ahead So You Won’t Run Out of Money in Your Golden Years

What is a safe rate of retirement income withdrawal? What does the phrase “safe 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.”

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Understanding The Two Stages of Money in Retirement

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Did you know there are two different stages of money in retirement? Learn about both to better prepare for the future.

Making the Shift from Asset Allocation to Asset Preservation

At Peak Financial Freedom Group, we believe that the thing our clients want more than anything else is retirement security. Fortunately, we believe in seven rules to live by that will help you achieve it, 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.)

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Is a Second Opinion the Next Step to Enhance Your Financial Security?

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Gain greater financial security by securing a second opinion on your retirement plan from a professional financial advisor.

When You’re Retired, You Need to Be Sure Your Finances Are on Track

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.

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Section Four of Your Comprehensive Written Retirement Income Plan

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The fourth part of your comprehensive written retirement income plan is to get your plan details in writing.

It’s Time to Get Your Plan Details in Writing

In recent weeks, we have shared the first three steps in creating a written comprehensive retirement income plan. If you haven’t yet read about those steps, we recommend you head over to our blog to get caught up.

In this fourth and final installment, we are sharing the fourth step in this planning process, which is getting your plan details recorded in writing.

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Section Three of Your Comprehensive Written Retirement Income Plan: Analysis of Assets

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When you plan ahead, you can use your assets to produce both income and a legacy for your loved ones.

It’s Time for an Analysis of Assets to Beneficiaries 

In past articles, we shared everything you need to know about the very first step in creating a comprehensive written retirement income plan: the Retirement Income Projection. Next, we discussed the second step in your planning, the Income Tax Analysis. If you didn’t get a chance to read those articles yet, you can start here.

In this final installment of this series, we give you details about the third step in your comprehensive written retirement income planning: an analysis of assets to beneficiaries. Having a comprehensive written retirement income plan you can rely on is incredibly important to your financial health in retirement, so let’s take a look at this final step.

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Section Two of Your Comprehensive Written Retirement Income Plan: Income Tax Analysis

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The second part of your comprehensive written retirement income plan is an income tax analysis.

How to Eliminated Your Fears of Paying More Than You Expect to In Taxes

In three previous articles, we discussed all the details of the very first step in creating a comprehensive written retirement income plan: the Retirement Income Projection. If you didn’t get a chance to read it yet, you can start here. Now, we move on to the second step in your planning, which is the all-important Income Tax Analysis.

Why are we continuing to discuss this topic? Because having a comprehensive written retirement income plan is just that important!

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Three Critical Questions to Help You Know What You Want Out of Retirement

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know what you want out of retirement

Gain Clarity on What You’d Like Your Golden Years to Look Like

We may sound like a broken record, but this bears repeating: A written retirement income plan is critical in setting you up for an enjoyable retirement free from financial stress. However, there are three critical questions you need to answer for yourself in order to clarify and solidify your plan. After all, any retirement plan can only be effective if you truly know what you want out of your retirement, right?

Take the time to ask yourself the three questions below, and make sure you answer them honestly. This exercise will help you sharpen your focus on what retirement means to you and what you want out of this phase of life. Then, use the added clarity to develop the best-written retirement income plan for you.

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Annuities 101: A Primer on a Polarizing Term

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Everything You Need to Know About Fixed Index Annuities and if They May Be Right for You

What would you guess is a 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.

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Busting Annuity Myths: Are They Really All the Same – And All Bad?

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Don’t Fall for These Untruths About a Misunderstood Retirement Income Vehicle: Annuities

The following excerpt, written by Leslie Davis, is from our book, Momma’s Secret Recipe for Retirement Success. Get your copy here to read more!

It may sound silly, but I feel bad for the word Annuity because the poor little fella gets criticized on a daily basis! It seems like 50% of the individuals I’ve met think they hate annuities, while 50% think they love them. To me, an annuity is not just a type of financial vehicle per se, but also a collection of valuable benefits.

For example, let’s say you’re having a B-B-Q with your closest neighbors one evening. The neighbor to the right of you owns a beautiful new Tesla, it’s red and shiny, sitting on display in his driveway.  You overhear the owner of this beauty telling the neighbor on your left how much he loves cars and wants four more. It just so happens that this neighbor to the left owns a Yugo from the 1980s. The Yugo’s owner responds by saying, “I hate cars, they are the worst, I never want another car!” The word car brings to mind four wheels that get you from point “A” to point “B”, but you can’t put a Tesla and Yugo in the same “car” category, just like you can’t put all annuities into one “annuity” category.

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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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