This document discusses retirement income planning and the importance of balancing expenditures with assets. It emphasizes determining expected cash flow needs through detailed tracking of expenses and income sources like retirement savings, pensions, social security. The key is for individuals to take on the role of CEO of their retirement business by creating and implementing a budget to reduce spending and increase savings through asset accumulation. Ongoing management is needed to coordinate asset distribution and produce a required income stream during retirement. Seeking help from financial advisors may also help simplify the process.
Retirement planning is a constantly changing subject. John Friar, AIF, of HJB Financial walks employers through the new landscape of retirement planning.
This workshop was developed for all tenure-related faculty who are interested in learning about the Tenure Reduction Program (TRP). The TRP provides an opportunity for tenured faculty to gradually reduce their involvement at the UO for up to five years after retirement. This workshop addressed eligibility, rights and responsibilities, interaction with PERS and other retirement funds, faculty standing in the department and university, types of instructional assignments, class enrollments, alternatives to teaching, and constraints on employment and sustaining PERS eligibility.
The workshop was facilitated by Ken Doxsee, Associate Vice Provost for Academic Affairs; Ernie Pressman, Benefits Administrator, Human Resources; and Sonia Potter, Director, Unclassified Personnel Services.
Retirement planning is a constantly changing subject. John Friar, AIF, of HJB Financial walks employers through the new landscape of retirement planning.
This workshop was developed for all tenure-related faculty who are interested in learning about the Tenure Reduction Program (TRP). The TRP provides an opportunity for tenured faculty to gradually reduce their involvement at the UO for up to five years after retirement. This workshop addressed eligibility, rights and responsibilities, interaction with PERS and other retirement funds, faculty standing in the department and university, types of instructional assignments, class enrollments, alternatives to teaching, and constraints on employment and sustaining PERS eligibility.
The workshop was facilitated by Ken Doxsee, Associate Vice Provost for Academic Affairs; Ernie Pressman, Benefits Administrator, Human Resources; and Sonia Potter, Director, Unclassified Personnel Services.
Are you thinking about retirement? Understand your retirement income and estate planning options with this Roadmap to Retirement presentation by Greg Stevens, CFP, Senior Wealth Advisor, and Tom Vautin, Senior Financial Planner, of Cabot Wealth Management.
Financial Planning for Youth
A simple, easy to understand guide for youngsters to learn how to manage their money and create wealth.
This presentation sheds light on the factors that are critical to a healthy financial management over one's lifetime. It will further take you through the fundamentals of planning - be it investment planning, risk management, tax and contingency planning or planning for your retirement.
Investing is an important part of achieving financial stability. It's one of those crucial financial tips that young individuals, as well as those over the age of 40 years, should keep in mind. When you invest a portion of your income, you keep yourself ready to face any financial emergency. Whether it's medical uncertainty, sudden losses in business, or layoffs in your organisation, investment assists in every difficult time.
Retirement planning is using your earnings to provide income, after you retire from work. Start planning for retirement now. We can help you use your savings today, to live a comfortable life tomorrow.
Retirement Planning is the process of determining and accumulating the retirement corpus one would require to live a comfortable life after the paid work life ends.
The ultimate goal of retirement planning is to achieve financial independence.
Objectives-
To cover medical expenses and be prepared for medical emergencies.
To create regular income sources after retirement.
To deal with any kind of uncertainities.
As the Indian economy will mature, the interest rate and stock market return will continue to moderate resulting in lower return from investment.
Thank You For Watching
Subscribe to DevTech Finance
An Introduction about personal financial management for family and individual. This includes planning process, focus areas and the consumer activities in planning.
Are you thinking about retirement? Understand your retirement income and estate planning options with this Roadmap to Retirement presentation by Greg Stevens, CFP, Senior Wealth Advisor, and Tom Vautin, Senior Financial Planner, of Cabot Wealth Management.
Financial Planning for Youth
A simple, easy to understand guide for youngsters to learn how to manage their money and create wealth.
This presentation sheds light on the factors that are critical to a healthy financial management over one's lifetime. It will further take you through the fundamentals of planning - be it investment planning, risk management, tax and contingency planning or planning for your retirement.
Investing is an important part of achieving financial stability. It's one of those crucial financial tips that young individuals, as well as those over the age of 40 years, should keep in mind. When you invest a portion of your income, you keep yourself ready to face any financial emergency. Whether it's medical uncertainty, sudden losses in business, or layoffs in your organisation, investment assists in every difficult time.
Retirement planning is using your earnings to provide income, after you retire from work. Start planning for retirement now. We can help you use your savings today, to live a comfortable life tomorrow.
Retirement Planning is the process of determining and accumulating the retirement corpus one would require to live a comfortable life after the paid work life ends.
The ultimate goal of retirement planning is to achieve financial independence.
Objectives-
To cover medical expenses and be prepared for medical emergencies.
To create regular income sources after retirement.
To deal with any kind of uncertainities.
As the Indian economy will mature, the interest rate and stock market return will continue to moderate resulting in lower return from investment.
Thank You For Watching
Subscribe to DevTech Finance
An Introduction about personal financial management for family and individual. This includes planning process, focus areas and the consumer activities in planning.
Meet Mel Meet Retirement Meet Bad Retirement Planmonstart
www.GOmeet MEL.com. he did what everybody else did, and he is going to pay for it in retirement! Meet Sue to see something different. Sue is set for life!
This presentation goes through 6 topics that retirees should prepare for in today's economy. Knowing your annual income, calculating your net worth, using your retirement as a paycheck, using your financial power wisely, managing your debt and managing risk!
Financial Planning: Building Your Wealth - webinarG&A Partners
How important is your financial security? The stock market has been improving since March, but where is it headed next?
As unemployment continues to grow and traditional methods of financing are becoming strained, join us as we take a look at the importance of Financial Planning. This webinar will walk you through the process of identifying and prioritizing your personal and business goals in order to implement a dynamic plan that will give you peace of mind.
Experts from the PICPA explain how to stay on track to reach your retirement goals and offer suggestions on ensuring that your fund will last through a long, happy retirement.
This webinar will discuss one of the most important savings goals of American families: saving money for a comfortable retirement. Specific topics to be covered include research findings about the retirement preparedness of American families, conflicting opinions about “the number” (i.e., amount of money needed to comfortably retire), factors that influence the number, and retirement savings calculation tools such as the Ballpark Estimate and Monte Carlo simulations. Case studies and chat questions will be included to apply the webinar content to real world situations.
In gearing up for America and Military Saves Weeks, Dr. Barbara O'Neill will present this 90-minute webinar on the tools and resources available for calculating the amount individuals and couples need to save for retirement, on behalf of the Military Families Learning Network.
Wealth management services encompass more than just investing. PLAN IT by Wendell Charles is a financial planning process that guides our clients through improving their financial lives step by step.
Social Security, Medicare and your RetirementBlain Bogar
This seminar will explain how Social Security and Medicare work, what is being done to ensure their survival, and how you can help clients and prospects plan for their retirement and medical care so that they do not have to rely heavily on either program.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
3. Retirement Income Planning:
Balance
• Cash flow
– When you need to
know where money is
going
– Analysis
• Budgeting Cash flow
– When you need to
control how much and
where money is going Budget
– Planning &
Implementation
4. Retirement Income Planning:
Balance
• Determine your expected cash
flow needs
– Start with current expenditures
– Major Categories
• Food
• Utilities
• Mortgage
• Health Care
• Transportation
• Housing
– The more detailed you get, the
more accurate you will be
5. Retirement Income Planning:
Balance
• Determine your expected
cash flow needs
– Consider using a tool that will
help you track expenses
• Mint.com
• Quicken
• Spreadsheets
– Attend our Budgeting & Cash
Flow Analysis seminar
7. Retirement Income Planning:
Balance
• Assets
– Retirement savings
• 401k/403B
• IRA
– Social Security Income
– Pensions
– Other assets: i.e. investments, savings, HSA,
investment property
9. Retirement Income Planning:
Balance
Estimating Income
• 4% Rule of thumb
– 4% annual
withdrawal rate
from investments
• Add annual Social
Security Income
• Add annual Pension
Income
12. Retirement Income Planning:
Balance
You: CEO
– Pre-retirement
• Changes to Expenditures
– Find spending to cut
• Changes to Assets
– Increase savings
– Post-retirement
• Changes to Expenditures
– Find spending to cut
Or you risk running out of money
– longevity risk
13. Retirement Income Planning:
Balance
You: CEO
– Create and
implement a budget
• To reduce & control
spending
• To increase
accumulation by
saving
14. Retirement Income Planning:
Balance
You: CEO
– Social Security
options
• 62, 66, 70
• One spouse,
both spouses
www.ssa.gov
15. Retirement Income Planning:
Balance
You: CEO
– 401k
• Remain in plan or roll out
– Roth
• When to use
– Safer investments
• Income producing
– Amway pension
• Lump sum or Annuity
– Investment property
• Keep or Sell
16. Retirement Income Planning:
Balance 401(k)
Social Security
Pension
You: CEO
– Ongoing coordination
of asset distribution
to produce required
income stream
17. Retirement Income Planning:
Balance
You: CEO
– Simplify, if necessary 401(k)
– Consolidate
Pension
» Under one roof IRA
Lump
» Into one account
– Automatic payments
IRA
18. Retirement Income Planning:
Balance
You: CEO
– Look for help
• Taxes
– Strategy
– Calculation
• Financial Adviser
– Wholesale vs. Retail
– Fiduciary Standard
19. Personal Consultations
• Consider your specific
situation
• Free for all Amway
employees
• Spouses are welcome to
attend
• What to bring:
– Fidelity login credentials
– Outside asset list
– Social Security Statement
– Target Retirement Year
– Estimate of monthly income
needs
20. Thank You
Schedule your personal consultation now!
Visit http://amway.bemanaged.com
Contact us at (616) 871-0751 or (888) 738-8780
What to bring:
Fidelity login credentials
Outside asset list
Social Security Statement
Target Retirement Year
Estimate of monthly income needs
Editor's Notes
Welcome…I’m told that in retirement a not-so-subtle change occursIn that as one transitions from the mind-set of accumulation to that of distributionthis ingrained drive for imbalance – accumulating more than spending - must give way to balanceAll your life you’ve worked toward having more than you need for this momentAnd the suddenly you’re thrust in this new paradigm where you’re no longer saving and spending, but only spendingThe newness and strangeness of it can be disconcerting until at least until you become accustomed to this notion of balanceLet’s flesh this out a little bit – what do I mean by balance>>
Balance between what you’ve worked hard to accumulate and what you now need to live on in retirement. Balance between your expenditures and your assetsThat is the goal of retirement income planning.How do you know if you are in balance?Perhaps you’re wondering if your accumulation is inadequate to meet your needs in retirement. Or just wondering when you can stop the accumulation phase and actually retire. The only way to really know is by a thorough investigation into each side of the balanceLooking at all the points under each side it becomes clear that we could easily spend more time than we have on just about any one of the points aloneSuffice it to say I’ve been encouraged not to do thatSo we’re going to pass over these fairly quickly and in very general termsIf you want to go deeper into any or all of these we are available for personal 1on1 consultations at no cost to you
So lets start on the expenditure side of the balance With expenditures we will think in terms of cash flow, which is basically tracking what you spend to live each month. Then we’ll want to consider a budget, which is the management of cash flow, or controlling what and where you spend.Cash flow tells you where your money is actually spentSo you use it when you need to know where your money is goingAnalysis toolBudgeting is a spending planAllows you to control how much and where your money is goingPlanning & Implementation toolWhen you analyze cash flow you come to better understand spending habitsWhen you utilize a budget you are able to overcome poor or destructive spending habitsOne naturally leads to the other. So as we take a closer look at these two, we’ll begin with Cash Flow>>
To forecast your future cash flow needs in retirement you can begin by tracking your current expenditures.If you’re starting totally from scratch you can begin with the 2 major categories of housing and non-housing And then break those major categories down into sub categories – food, transportation, health care and utilities, maintenance, mortgage, etc.Keep in mind that the more detailed you get, the easier it will be to find areas to cut back, if that is necessaryOn the right hand side of the screen is a list of average expenditures for people in retirement compiled by BLS. This is a good, basic list to start withThere are other places to get pick up basic starting lists, too, but the idea is to borrow someone’s list and adjust it to make it your own by adding your categories until you’ve captured all of your expenditures, and then track those expenditures over time to get a good idea where your money is going
There are some powerful tools available to help you here, and since so many of our transactions are electronic now, it seems natural to gravitate toward an electronic toolBut whatever tool you choose The point is to take advantage of the resources available to make this part of the work easier.I use one credit card for as many transactions as possible, and I pay my bills from my on-line bank accountSo with that one account and a credit card we cover probably 99% of our transactionsThen we use a website called Mint.com – a free site that aggregates all of your financial information and gives you great monitoring tools and the budgeting piece as well.But there are other tools available too. The idea is to leverage technology to make this part of the work less time consumingWe do go into these topics in greater detail in our budgeting and cash flow analysis seminar so take advantage of that when it comes up in rotation again
So on the expenditure side you need to track your spending to identify how much you’re spending and on whatIn my mind this is the most important number because without it you will not know how if your assets are adequateNow to the Asset side.
Each of you probably has a couple accounts that you have built up during your accumulation phase that you will now begin to use as income over the course of your retirement to meet your expenditures.Here we’re talking about your Retirement savings, which may be your 401k, a 403b, and IRA, or one of the other retirement savings vehicles available.You would also include Social Security Income on the asset side of the balance, as well as any pensionsAny other assets, such as taxable investments, savings, HSA, investment property would also be included on your list of assetsNow you have this list of assets. Someday you’ll need to convert them to a stream of income. But for now you only want an estimate of what your income would be
This is a screen shot of one of our calculators that performs these conversions for usSo let me take a moment here and put in a plug for our consultations, where we can work though these numbers with you individually More about that at the endSo we plug in your various assets>>
And the calculator displays an estimate of your total income equally divided over a number of yearsIf you want to try this at home, then a rule of thumb is to take the value of all your investments and savings and calculate a 4% annual withdrawal rateAdd to that your projected annual income from Social Security,Add to that any annual pension incomeAnd you get a ball park figure for your retirement incomeOr there are many web sites that offer these types of calculators, and some even more detailed. One gentlemen I met with on Tuesday showed me the calculator on SmartMoney.com and it looked very nice – actually confirmed the numbers we got on our calculatorWhatever tool you utilize, when you’re done you’ll want an estimate of your annual income from all of your assets
So through the process of tracking expenditures we can reasonably approximate our cash flow needs.Then we can approximate from the totality of assets what income can reasonably be expected.What do you do if your expenditures and assets are not in balance?Well, you talk to the boss!Who is the boss, you ask?>>
You are the bossYou are the CEO of your own retirement. you are going to have begin to think like the owner of a small business. Because you are – you’re the owner and manager of your retirement business. So, as CEO of your retirement there are a number of important decisions you will need to make and manage in the years approaching retirement and throughout your retirement years.This is certainly not an exhaustive list, but its just meant to help you prepare for that change in mind-set that will need to occur as you approach retirement
For instance, if assets and expenditures are not in balance. What does the CEO do?Well, the CEO will face some important decisions on both Assets and Spending. If they are not in balance, you will need to instigate change.In your pre-retirement years if you’re out of balance, you have 2 options: you can reduce expenditures and/or increase assetsBut in your retirement years increasing assets becomes less possible, so the changes you instigate will have to come from the expenditure sideAnd your expenditures are going to have to be closely managed because while you can spend more than you’ve budgeted, and no one will stop you if you do, The penalty will be that your money will run out sooner than estimated.Longevity risk, or the risk of outliving your savings, becomes more likely if you are not intentional in your spending.So how do you become intentional in your spending? I’m glad you asked>>
You become intentional in your spending by planning it out.This takes us back to the idea of a Budget, which is a spending planWhich will require you to adopt spending habits that keep your expenditures in balance with assetsIn your pre-retirement years you can use a budget to help reduce your expenditures in order to accumulate more assets for retirementAnd in your retirement years you can use a budget to ensure you are not out-spending your assets and putting yourself at risk in your later yearsSo the budget allows us to intentionally plan spending to keep us in balance
One of the more important decisions the CEO will have to make is when to begin drawing from Social Security. There are several options: first of all, the longer you wait to begin drawing the more your monthly income from Social Security will be.Then it gets more complicated if you are married because now you’re talking about the choosing between the various possible combinations of 2 incomesBut your choice here can make a big difference in your potential income, so as CEO you will want to be out front on thisThe Social Security website has lots of info and some helpful planning tools, and there are a ton of websites purporting to help you plan these things out, so cautiously avail yourself of these resources
Another area where the CEO will need to be actively engaged is in the method and timing in converting investment assets to incomeFor instance, Do you keep your 401k in the Amway plan or roll out to an IRA? If you roll it out, where do you roll it to, and into what type of investments?Speaking of investments, should you change the type of investments you’re in when you’re retired? Should you be in a safer investment?What about your Roth. When is the best time strategically to take income from your Roth?If you are part of the Amway pension plan, should you take it in a lump sum or an annuity?If you own Investment property, should you keep it or sell it?These are all details that are easy to not see when you’re looking at your retirement from 39000 ft in an overview.
You’re accustomed to receiving a paycheck regularly here in your pre-retirement years,But as CEO you will be responsible to manage the timing of the distribution of your assets, too. Quite frankly this all may require skills that you don’t possess. As CEO it will be up to you to decide how to proceedIt could be you’ll want to simplify this process in order to manage it effectively.
And there are ways for you to make this part of the job less complex if that is what is needed.For example Its not uncommon for people to move their assets to one company and platform, or even to one accountWhere they can set up automatic distributions and easily and quickly monitor what’s happening in that accountSo there are ways to simplify these things so that it isn’t a full time job.
There may come a point where you say that some areas of the business are too technical or complex for you to handle on your own. In this case You can and should hire help.For example, One area that will probably change for you will be taxes. If your assets are the least bit complicated you will probably want a tax strategy before you begin to convert them to incomeAnd most of you will probably need to hire someone to help you do your taxes each yearSo this may be one area where you will need to hire helpYou might also want to hire financial help in the form of a financial adviser or an investment adviserWhen you hire help in the investment world, the most important question to ask the adviser is, “how do you get paid?”Those advisers who get paid by the fee they charge you and NOT by any products they get you to buy are more likely to give you conflict-free adviseThose advisers who get paid from the products they sell you are not required by law to make recommendations in your best interest. They actually do not work for you but rather for the product that provides them revenue.This is not to say that all advisers in this 2nd category are bad, and all of those in the 1st are good. It is only to warn you to find out where your adviser’s loyalty is, who your adviser really works for, because you are trusting this person with something of great importance to you.So by all means, get the expert help you need, but be careful that you know what you’re getting
As I have mentioned, we are here to provide personalized consultations at no cost to youWe can address your specific situation and give you more detail than we’ve been able to cover hereYou are welcome to bring your spouseHere is a list of what you should bring to the consultation – this list is also on our website