1.  DEATH - While you can't prevent the inevitable, you can certainly make sure you have a plan in place to hedge the effects.  The two biggest fears people have in retirement are dying too soon and more importantly, living too long - because if you live too long you might run out of income.  We can teach you how to plan for both instances.

 

2.  TAXATION & WEALTH TRANSFER - This is probably the biggest hazard you usually don't consider.  Taxes eat away at your retirement year after year and along with inflation are deemed the "silent killer" of all things financial.  We will teach you how to minimize taxes now and in retirement so that you get to keep more of what you earn when you need it most.

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3.  SICKNESS - This doesn't mean the flu.  It means something more serious that incapacitates you for months or years.  The average facility or in-home care costs between $3000 and $7000 monthly.  75% of people over the age of 65 will need some form of Long Term Care during their lifetime.  How quick would retirement assets be depleted if this happened to you? There are definitive ways to address these issues but you must know the steps to take.

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4.  RETIREMENT INCOME AND MAINTENANCE PLANNING -While most people plan for retirement in some form, the majority of people think if they have a 401(k) or an IRA everything is on Auto Pilot.  Nothing could be further from the truth.  That is merely one piece of your financial puzzle and it really just means you will have a pot of money when you retire.  How do you spend it?  How much can you spend?  Will it run out? What about taxes?  This Hazard may mean the difference between having money for as long as you live and working into old age to pay your bills.  We will teach you the steps to take to be sure you never run out of money no matter how long you live.

 

5.  FINANCIAL EMERGENCIES -  This Hazard is the one you've been dealing with your entire life but it means even more now as you approach or enter retirement.  How much does a new AC cost?  What would a mechanic charge to replace your transmission? How much is fair for a new roof?  Every one of these, and many more, are in the thousands of dollars.  All of these emergencies also tend to occur when you least expect them.  Will you be caught off guard?  Do you have a buffer?  Do you have an Emergency Fund for things like this?  We teach you how to set up the right kind of budget so that these type of emergencies are just a bump in the road.

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All of these can be planned for.  If you want to discuss one or more of these and the steps needed to appropriately deal with them, email or call us