Winning Financial Super Bowl Team – Build a Worry Free Retirement

A favorite time of the year for many of us football fans is right around the corner – Super Bowl Sunday.  Consider the first half of your Financial Super Bowl, your earning years – it is the time to run up the score and build your retirement assets.  Then, following the half time show, as you transition to your retirement years, it’s time to start focusing on protecting what you’ve worked hard to earn and your lead on the scoreboard. Designing winning strategies throughout retirement will help you build a winning Financial Super Bowl team – and a worry free retirement.  

Study: Americans fear running out of money in retirement more than death

Unfortunately, many families currently aren’t on the winning team. Studies suggest that about two-thirds of today’s retirees are unprepared and are at serious risk of running out of money in retirement.  A recent study shows that American’s fear running out of money in retirement more than they fear death itself.  I have yet to find anyone who comes into our Secured Retirement Advisors office without the number one goal of being able to spend confidently while in retirement - that’s why it’s surprising that more people aren’t planning wisely for their retirement.

Longevity is greatest risk in retirement

Did you know that if you and your spouse are both 65, statistically there is a 50-percent chance that one of you will celebrate your 89^thbirthday?  There’s also a 25-percent chance that one of you will see your 94^th birthday! While these numbers are gender neutral – in many instances, the wife survives her spouse.  A winning retirement plan should last a full 30 years.

At Secured Retirement Advisors, during our initial consultation with families in or near retirement, we guide them through a 3-step review process.  During these consultations, we hear retirees voice concerns about a variety of topics that can deplete their nest egg.  Some of the most common concerns include: inflation, low interest risks, poor rates of return, long-term care, medical expenses and market volatility. While all of these risks are valid and can be the ultimate catalyst that creates a disaster, retirees need to understand that longevity is the greatest of all risks they face in their golden years. You see, the risk of living too long is a risk multiplier.  Longevity exponentially increases a potential danger that you will experience a loss of buying power over time, a chronic illness or uncontrollable asset depletion. Proper longevity considerations in your comprehensive financial planning helps you avoid the unfortunate reality for those who find that they have inadequately planned for the second half of retirement.

Build a Comprehensive Retirement Plan

At Secured Retirement Advisors, we help families craft a comprehensive retirement plan that focuses on avoiding potential risks. The overall plan should include:

• A retirement tax plan to avoid unnecessary money going down the drain - make sure to design ‘look forward’ tax planning for this year and in future years.  
• A plan for the death of the first spouse - understand how your pensions, social security and other income planning are affected.
•  A prudent investment approach that will protect your buying power and anticipate inflation.
• A defense plan against the uncertainties as we age such as rising medical obligations and long-term care.

I want you to be on a winning Financial Super Bowl team in retirement.  To do this, design strategies that help you take your money back, take it back tax efficiently, and take it back so that your money will last a lifetime for both you and your spouse’s retirements.