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4 Retirement Tools for Planning

How much money do you actually need to retire? Some retirement calculators say it takes an estimated 1 million dollar retirement nest egg to bring in an average of $40,000 a year as a retirement income. But, in fact, just last month, through research from a science journal published by the  Max Planck Insititute for Demographics , the probability of living to 110 years has just increased significantly.  Nevertheless, what does that have to do with you, and how much do you actually need to retire? I will address my opening statement first. I have been helping people plan for retirement for over two decades, and I must admit that while most have saved for retirement, less than 15% have amassed a million-dollar retirement portfolio.  Does that mean that the existing 85% will live below the poverty line in retirement? I am unsure that this will be the case as some still have pensions, annuities, and untapped real estate wealth not primarily counted on for retirement that may help fill mont
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I was creating a retirement plan for a client by the name of Ms. Smith the other day, and I popped the question to her. She said, well, I don't know. It depends on how I feel at that time. I said what do you mean how do you feel at that time, better yet how do you feel about it today. She said I feel pretty good about it today. I said I have been married for 23 years and have never proposed this question to my wife. She said you should; she would probably feel the same way I do about it. The question I had popped to Ms. Smith was, "If we could go back to November 2007, the "Great Recession" and her entire retirement portfolio was cut in half by 50% would she stick it out?" She said mainly she was in a different place financially and mentally at the time verse where she is now. I told her I get it, and she should be in two different areas in her life versus back then, but preparing retirement plans, I have to ask that question. Not because it's on my q

One Retirement Myth To Be Aware Of Today

I love talking retirement and rightfully so, as I have been working with clients and their portfolios for nearly 20 years. One thing that was hard for me to understand as a young life insurance agent was why I had to know everything about a client before I started writing their life policy. My manager would always tell me that you have to do confidential questionnaires. My thought as a young agent was why when they wanted insurance, and I want to sell it to them. This type of approach was a win-win for me trying to get a commission. As a veteran in the business for more than 35 years at the time, he said you young kids just do not get it. How do you go into a doctor and tell them your elbow hurt because you bruised it, and they give you some cream and send you on your way, only to discover that you have a fractured bone chip? Now that I am older and around the same age, he was when he started sharing his sage wisdom with me, I truly understand what he was talking about now that I am ol

What We Did in Response to the TD Ameritrade Announcement With Charles Schwab

As we look at recent developments in the news concerning the buy-out of TD Ameritrade by Charles Schwab. Sure, TD Ameritrade was paid a 17% premium for their outstanding shares, and Charles Schwab receives more assets under management to compete in an industry that has had more changes than a one-month-old newborn baby. If I were a betting man, I would say that there would be more consolidation in that space here in the next year or two. The client or customer is always left holding the bag in mergers and acquisitions, because when they sign up with companies that are who they have decided to partner with for the long term. We decided to launch retirementplansareus.com because the client still needs a place to go to get an unbiased direction concerning their retirement plan. Even though we have been planning retirement plans and retirement exits for nearly 20 years it was important to create a dedicated site to service clients looking for only a retirement plan. I had one state work

Why My Retirement Social Media Status-Is Complicated

Why My Retirement Social Media Status-Is Complicated I remember when someone told me I should start a blog; my answer was I really do not have time.  I told them that there were enough bloggers out there, and I think most of them do a good job.   Their response to me was you are different.  When it comes to explaining stuff, you precisely say definitely what the problem is, and everyone exactly gets it.  I said thank you, and still never gave starting a blog another thought.  As I sat down with more clients, I started to realize that there is too much information available.   Nevertheless, the more information available the more overwhelming for the average retiree becomes.   I think retirement and retirement planning can be very tough to understand as it is, but add something like the open letter that was written to our current Vice President, Mr. Mike Pence, from the board of trustees of the social security administration and now you are at another level of complexity.  The