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That's terrific. However, the need for financial and estate planning is more important now. You have gone through the accumulation phase of your life and now need to see to it that your spending patterns and health demands do not consume all that you have saved. This outlook must be performed in purchasing power dollars, not in today’s dollars.
The joke goes: “First the GOOD news: We are living longer. Now the BAD news: We are living longer.” Unfortunately, as we age, the chances of a medical catastrophe or a need for extended care increase dramatically. How do you protect your savings and investments from those circumstances? How do you insure that what you have will pass to your selected heirs? Of course, with as little as possible diverting to the Government in the form of estate and inheritance taxes.
About 60% of the retirees that I interview have created living trusts, but most have never made any arrangements |
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The best plans are worthless unless implemented. I can help you establish these plans and goals and assist you in setting a timetable for implementation.
Let’s face it, creating a projection that goes out 20-35 years is nearly guesswork. Certain known averages work for periods of time, but factors like interest rates, rate of inflation, market returns, costs of living and health condition can and do change dramatically. The need to review your financial plan at least annually is just as important as creating it in the first place.
Most, if not all of the financial planners that you meet focus on investments and insurance products where commissions are paid. I don’t accept commissions or referral fees. I focus on financial and estate planning for retirees and near-retirees. My loyalty is to my client, not to a broker or a commission structure. I have no conflict of interest issues.
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