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The majority of financial advice you have received over your lifetime has likely focused on the accumulation of your retirement nest egg. Most financial professionals fail to realize that you have to position your investments, such as your 401ks 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 do not 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 nineties, or the 2008 Financial Crisis. Further yet, the predictable crash about to happen. 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,
What percent of your retirement income do you want guaranteed?
Whatever that number is, together, we can create a strategy that will show you a way to get there. This plan has many of the same benefits as a pension plan:
- Lifetime income for you (and your spouse if applicable) regardless of current economic conditions
- Increases in income tied to inflation
- Reliability of a check monthly, quarterly, or annually
During your working years this plan differs from most stock market investments because your principle and gains are protected from losses. We find that most retirees are more concerned with the return of their money, then on their money. Why not utilize a product for the percent of your income that you want guaranteed? Let Clear Income Strategies Group show you a way to retire and not be worried about the day to day changes that retirees have little control over.
Does this sound different from what you’ve been hearing?
There is not one 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 circumstance must be taken into consideration. This is where we can be of service.
Most common financial mistakes:
Putting all retirement assets in short-term savings solutions
Unknowingly taking risks retirees cannot afford
If you have all of your retirement money in highly liquid places that allow you access immediately, you are paying a price 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.