Plan for Retirement

Plan for Retirement with the Big Picture in Mind

On May 16th we will be launching a brand new site. It’s not changing anything that we’re doing right now, really, but actually expanding our vision to the different stages of life. Each person comes from a unique situation and circumstance, and will need something different as part of their financial strategy. What we’re hoping to accomplish with our new site and branding is to provide an easy, intuitive way for individuals to recognize where they’re at, and then find what they need to progress from there. We want to help people plan for retirement with the confidence that they will be able to live the way they want to, because they can see the big picture.

Because we work in the financial industry day in and day out, we tend to see things a little differently. We’re plugged into financial services, we’re plugged into the economy, and we see things that are going on. Our eyes are little bit different, our paradigm and our perspective is different. Our goal is to help people see the financial things the way we see them.

Using the tools and strategies that we teach helps an individual expand their mindset when they plan for retirement. They can see how things in the news or in the economy can affect them personally. And again the goal of our new site is to help people expand their vision, and also help us to do the same. Before we were almost entirely focused on one aspect of the financial lifecycle of an individual, and it’s still an important part. But we are hoping to expand that even further.

The first examples I can think of are my mom and my mother-in-law. These two ladies, in their late 60s, newly retired, neither of whom have a significant amount in terms of wealth and resources, they had a particular vehicle in place for retirement that was just absolutely the wrong thing for them. They would wake up in the morning and watch the market. They’d watch the ticker and literally worry themselves sick because they’re looking at this thing that they needs to use to create income but watching their account statements show that the balance is depleting. And so when I kind of walked them each through some changes that they could make where they could all of a sudden insulate themselves from the market and have a stream of income that’s gonna last them for the rest of their lives, they both became emotional and so relieved that they didn’t have to live like that anymore.

When you look at individuals that have spent twenty-five, thirty-five, forty-five years receiving their paycheck every week or every other week or every month or whatever the frequency was, and suddenly they get to the point where now they have to watch the market and take money out, it’s a very stressful situation to be in. The common strategy is you take 4% a year according to Monte Carlo and that’s the way that it is, right? But looking at what’s available to individuals that are on the brink of retirement, where they can ensure a pay check for the rest of their life, I mean, right there just the fact that that exists is hugely comforting to people. They don’t have to have a worry about being associated with things that are so dependent on the performance of the market. They can plan for retirement with confidence and understanding.

One thing I’ve seen in some of the clients that are in the brink of retirement or in retirement is that they have a huge amount in their IRA or their 401k, but they’re so afraid to touch that money that all they do is live off of their social security. It’s just mind numbing that there could be hundreds of thousands, or even millions of dollars in accounts but yet they live like they’re a pauper just because they’re afraid to touch that.

Now, the only reason these people are afraid is because there is so much uncertainty. If we can give these people a little certainty in their lives, they could be living much more comfortably, and without nearly as much stress. And that’s what we’re hoping to achieve. We want to be able to focus not just on the growth of savings as we have done previously, but also focus even more on helping people see how those savings will be put to use in the future, how they can ensure they have enough for their needs, and how to eliminate that fear that they haven’t done enough.

The best way to eliminate that fear is the learn as much as you can. We have worked hard to provide a free course on the strategies we use. Click here to get started on our Infinite 101 course now!

This blog was created based on our podcast The Wealth Standard. Click here to listen to it now!