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Retiring is often fantasized as a time to relax, travel, and spend time with loved ones. It is a special time to reap the benefits of the money you have worked hard to accumulate after decades of saving and sacrificing. However, more and more Americans are discovering that it can be an uncertain, and worrisome time in their lives. Currently, 1 out of 3 Americans fail to plan sufficiently for retirement, and find themselves struggling to make ends meet. They are forced to continue working, with no visible end in sight. Others have some savings, but with the average life expectancy continuing to rise, along with inflation, there are many who will outlive their savings. This means that receiving a retirement income is necessary as part of any retiree’s game plan… (Click to read more)
What is an Annuity? An annuity is an insurance product that is used as an investment strategy by allowing the insurance company to use your money as they grow these funds. When the annuity is “annuitized”, the funds are paid back to the individual as income for a period of time, or for life. Annuities can be categorized as either Fixed, or Variable. A Fixed Annuity contains a growth guarantee that allows you to invest with virtually no risk. A Variable Annuity is more risky, and are considered as investments, and are regulated by the SEC. These function almost the same a mutual funds, and the fees for these typically are high. Because of this, Fixed Annuities tend to be more popular. Not every annuity is the same, and there are options out there that can work for you… (Click to read more)
I would say the most frequent concern for most of my clients is “Will I run out of money in retirement?” Sometimes understanding how to navigate the uncertainties and risks of a new lifestyle can be difficult. Retirement, instead of working for a living and a regular paycheck, is a whole new mind set. The first rule of thumb is to figure out what a realistic lifestyle and budget should be, based on income sources and investments. When they are living on social security and perhaps a pension, the rest of their income will be derived from savings and investments.
Many people don’t understand the devastating effect volatility can have on a portfolio. Just because the stock market, for example, has averaged over 10% per year over the last century or so, it does not mean one can live on anywhere close to 10% withdrawal rate on their investments. My clients want to know how to protect their livelihood and future from market risk and what investment vehicles can guarantee lifetime income. If indeed, “the only thing worse than dying is outliving your money”, then these concerns should be very real and should be dealt with responsibly… (Click to read more)
Simply put, a buy and hold strategy is a passive investment strategy emphasizing long term growth over short term thinking or market timing. An investor who employs a buy-and-hold strategy actively selects stocks, but once in a position, is not concerned with shortterm price movements and technical indicators. This idea generally makes sense for the younger investor who is accumulating assets for retirement but doesn’t plan on spending them anytime soon. Younger investors usually have more time to make up for negative swings in the equity markets…
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Jeff’s mission is to help his clientele prepare for retirement through intelligent wealth accumulation strategies, and then guide them through the transition into their new retirement lifestyle. Once retired, and perhaps most importantly, Jeff and his firm focus on responsible wealth management and estate planning, to help clients stay retired with more peace of mind. “Managing risk and maximizing cash flow through maximizing pension plans, social security and different annuity options are a big part of a sound retirement plan” , explains Vogan. “Most people want to be able to live out their retirement dreams and not worry about running out of money”…(Click to read more)
A will is a legal arrangement that has several important functions and usually requires at least one witness. (State requirements vary, for instance, two witnesses are required in Arizona.) A will is used to designate your chosen guardian/s for any minor children. A will gives instructions on how you wish your assets to be distributed upon your death. It names beneficiaries of your estate and what they are to receive. A will allows you to choose an executor, a person responsible for overseeing the distribution of your assets…(Click to read more)