Monday, March 7, 2016

From Saving to Distribution - Is Your Retirement Plan COMPLETE?

From saving to distribution - is your retirement plan COMPLETE?

There’s a rather unfortunate problem on the American retirement scene that seems to be getting worse by the day - an ever increasing number of folks are arriving at retirement only to discover that they are at risk of running out of money. And it’s not because they didn’t save enough during their working years. Many did. So why are they facing this predicament?

From what I have seen in my practice, most folks fail to transition from the accumulation or savings phase of retirement planning into the distribution or income phase. In fact, many retirees today have not done any form of serious income planning. So in effect, they are going along in retirement trying to manage issues relating to longevity of their income but with accumulation-focused nest eggs.

This amounts to trying to fit a square peg in a round hole because the two are entirely different. Income planning is a whole specialty on its own, and not all financial advisors focus on it. But it is too important to ignore because the consequence is the difference between running out of money mid-stream or making sure that you’ll never run the risk of outliving your income, irrespective of how long you end up living. 

Some questions to consider

Will I have enough income to last as long as I do? Will my income keep up with rising prices? What effect will a stock market crash have on my income? What portion of my income is guaranteed and based on what? What will happen to my spouse’s lifestyle if I die? What effect will taxation have on my various sources of income throughout the years?

It may not seem that big of a deal. But without proper income planning by an experienced professional, you could end up in a really tough spot at a time that you don't want to be. Report after report tell us that is exactly what’s happening to so many unsuspecting folks out there. My hope is that if you haven't done so already or feel uneasy about your situation you’ll take some time to talk with an advisor who specializes in income planning today because your peace of mind in those retirement years is too important. 

Food for thought.
Visit or call 877.656.9111 right now to book your complimentary, confidential consultation with a financial professional who has your best interest at heart and who is willing to ask the right questions to help you make a plan that will get you where you want to go. Youll be paired with an experienced financial professional who can help you plan for a secure future, regardless of your current financial situation. Retirement planning means planning for ALL aspects of your life after retirement. If youre ready, were here to help.

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