The majority of financial advice you have received over your lifetime has likely focused on the accumulation of your retirement nest egg. Many financial professionals fail to realize that you have to position your investments, such as your 401(k)s and IRAs, differently in order for them to sustain you during your retirement years. At Clear Income Strategies Group, we believe that principal protection and having a reliable income stream during retirement are paramount. You only get one opportunity to retire, and you don’t want to put your money into an account that deprives you of the ability to accurately predict what its value will be in the future. Remember: Focus on income planning versus income guessing.
Most of us have been taught to “buy and hold blue chips.” Using this strategy could be a disaster waiting to happen. Imagine if this was your strategy during the crash of 1987, the tech bubble of the ‘90s, or the 2008 financial crisis – further yet, the crashes of the future. Where would your income come from? Would you be able and willing to go back to work? How would you replace the loss of income or the loss of capital, neither of which was your fault? This is where our philosophy is different. We ask our clients one simple question:
Whatever that number is, together we can create a strategy that will show you a way to get there. This strategy has many of the same benefits as a pension plan:
During your working years, this strategy differs from most stock market investments because your principle and any gains are protected from market losses. We find that most retirees are more concerned with the return of their money than on their money. Why not utilize a product for the percentage of your income that you want guaranteed? Let Clear Income Strategies Group show you a way to retire and not worry about the day-to-day changes that you will have little control over.
There is no single “best place” to put your retirement money, because each person has their own unique needs. In order to make sure your money is in the appropriate place for you, your individual circumstances must be taken into consideration. This is where we can be of service.
Some of the most common financial mistakes include:
If you have all of your retirement money in highly liquid places that allow you immediate access, you are paying for liquidity you may not need. Far too many people have all their retirement money in the market and are exposed to the risk of principal loss. Certainly, some of your money needs to be in short-term places that give you immediate access, but insurance and annuity solutions are also viable options for many pre-retirees and retirees.