Tag: retirement planning

Episode 8: The Financial Mistakes Costing You More Than Your Money

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When we think about what drives a lifestyle, the most obvious answer is income. Yet, securing a supportable income in retirement can be tricky when you’re depending on investments in the markets. This episode of Peak Financial Freedom is all about what mistakes you may be making with your investments and savings that end up costing you even more than money in retirement. To avoid these mistakes, Jim and Dan provide some insight into how you can tackle your finances, mitigate the risk in your portfolio, and establish a strong source of income to last you throughout your retirement. 

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Episode 7: The Golden Rule for Assessing Your Financial Risks in Retirement

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When it comes to retirement, you should prepare to lower your financial risk considerably. In this episode, Jim and Dan share their “Golden Rule of 5-10%” to ensure you’re never in a position to lose too much, even if the stock market were to crash. Far from putting all your money in the bank, though, the guys share how you need to utilize different types of financial instruments in a way that mitigates your financial risk and won’t leave you too open to the market.

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Episode 6: When is it a Good Time to Retire? (Hint: It’s NOT About Your Age!)

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If you’re wondering whether you can retire, make sure you’re not playing a guessing game. In this episode, Jim and Dan explain why choosing when to retire is about much more than your age. If you’re feeling overwhelmed, focus on your budget first. Then, you can determine when to retire by creating a full financial plan that takes into account components like income, tax planning, legacy planning, inflation, future medical care, and more. 

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Episode 5: The Bucket Concept: Helping Retirees Better Understand Their Money

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Many people don’t have a full understanding of what is happening within their investment portfolio. For a full picture of what your money is doing, it can be helpful to think of it within a bucket system. In this episode, Jim and Dan explain the three buckets, as well as how your diversification – the way you choose to balance your buckets – depends on what you want your money to do for you.

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Have You Ever Had Your Entire Portfolio Analyzed?

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No matter how much you’ve saved for retirement, whether on your own or with an advisor, you can never be completely confident of your finances without having your entire portfolio analyzed. You may have stocks, mutual funds, maybe some bonds, and perhaps you’ve even been told you’re diversified and don’t have too many risks. 

But, do you know for certain, 100 percent, that your portfolio will be okay if the stock market crashes? Unless you’ve had your entire portfolio analyzed, the answer is most likely no. The best way for you to be confident of your portfolio is to place it under a microscope and have a total portfolio audit. A total portfolio audit will:

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Warning Signs About Your Money

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Most retirees who have saved a significant amount of money for retirement rely on a financial professional to help them make the best decisions with their money. What your advisor does, and says, will tell you if you should feel confident with his/her advice. Here are some telltale warning signs:

#1- You don’t have a comprehensive written retirement income plan, nothing is in writing.

#2- You are told to “Ride It Out” or “Hang In There” when you are suffering through large losses.

#3- Your advisor acts like your dad, he/she acts like your money is their money. 

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Are You Blind to Your Own Possible Financial Future?

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Have you been led to believe that everything is great in your finances? Maybe you trust your advisor who says everything is okay. Perhaps you believe the news that everything is okay because the stock market keeps hitting all-time highs? Maybe you’re an optimist and just believe things will work out somehow and nothing bad will happen?

Here is your wake-up call: You can’t plan and handle your retirement finances this way. You’re putting your finances, and your family’s finances in jeopardy by hoping that you’ll get lucky.

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The Two Stages of Money in Retirement

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stages of retirement planning
Are You Still Accumulating Assets or is it Time to Shift Your Focus to Asset Preservation?

At Peak Financial Freedom Group, we believe there are a distinct set of seven rules to live by in order to create retirement security. Today, we’re sharing the first lesson, which is that there are two stages in retirement planning when it comes to money. We detail all seven rules in our book, Momma’s Secret Recipe for Retirement Success.

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How To Reduce Your Fears About Your Money & Retirement

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If you’re retired or near retirement, we can help reduce your fears about your money and retirement.

We can create a written retirement income plan for you that will serve as a roadmap, like navigation in your car, to make sure you don’t get lost during retirement.

We can help eliminate your fear of running out of money by helping you create dependable income guaranteed for life.

We can help you protect and grow your assets without taking excessive risks, by using multiple, conservative asset strategies, making sure you don’t lose what you’ve worked so hard for.

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