Retired

We've been retired for over three years. With changes in the market, watching our retirement assets dwindle, and all of the new expenses, retirement just isn't what we thought it was going to be. Instead of enjoying our retirement years we find ourselves worrying and constantly concerned that we’re just not going to have enough money. What can we possibly do now or is it too late?

Suggested Action Plan:
Step 1- Download Your Life focus Software and Begin the Planning Process
Step 2- Register for One of the Life Focus Wealth Education Classes
Step 3- Contact a Wealth Coach and Begin Your Secure Advantage Program
Step 4- Retirement Planning
when you retire, you generally stop receiving income from wages, salary, or other work related activity and start relying on your assets for income. To ensure a consistent and reliable flow of income for your lifetime, you must provide some safety for your principal. This is why retirees typically shift at least a portion of their investment portfolio to more secure income -- producing investments, and this makes a great deal of sense.

Unfortunately, safety comes with a price -- reduced growth potential and erosion of value to to inflation. Safety at the expense of growth can be a critical mistake for some retirees. On the other hand, if you invest too heavily in growth investments, your risk is heightened, and you may be forced to sell during a downturn in the market should you need more income area retirees must find a way to strike a reasonable balance between safety and growth. Working directly with your wealth Coach you can devise a strategy that will allow you to strike such a balance between safety and growth and be certain that you're not outlive your assets.

 Step 5- Investment
Investment planning during retirement is not the same as investing for retirement and, in many ways, is more complicated. Your working years are your savings years. With luck, your income increases from year to year as you receive promotions and/or pay raises; those increases offer some protection against rising costs caused by inflation. While you're working, you retirement objective generally is to grow retirement savings as much as possible, and investments that offer higher potential reward in exchange for greater potential and volatility and/or loss are often the focus for those retirement savings.

When you retire, on the other hand, spending rather than saving becomes your new life focus. Your sources of income may include Social Security, employer pensions, personal savings and assets, and perhaps some income from working part-time. Typically, retiree’s objective is to derive sufficient income to maintain a chosen lifestyle and to make assets last as long as necessary.

 Step 6- Develop a Spending Plan

What we can accomplish for you…

o    Your financial coaches will work directly with you to develop effective strategies for tracking your spending and developing a spending
       plan that allows you to get the most out of life.

o    Your financial coaches will review your current expenses and determine the best way to create savings and reduce your spending.

o    Your financial coaches will help you find the money to set aside each month to increase your savings and plan for your future.

o    Your financial coaches will suggest strategies to become debt free and negotiate directly with your creditors to reduce and eliminate
       your outstanding debt load.

 Step 7-Tax
Effective tax brackets tend to change significantly over time. A perfect money plan will withdraw the majority of your income from taxable sources in the year when taxes are relatively low, and withdraw funds from a tax-free source any in a year taxes are high. Remember, the only person that can take care of the older person you will one day be is the younger person you are today. Working directly with your wealth coaches you'll deal to develop a tax strategy and tax plan that will maximize your retirement benefits while minimizing the taxable effects on your retirement assets.

 Step 8- Estate Planning
Estate planning is perceived by most at the time where you plan for your own death. We take a very different approach, estate planning for us is the process where each individual gets to plan and create their own legacy. In the preretirement phase of life is important to begin to evaluate not just our investments and our assets, but it is also important to decide what type of legacy we would like to leave our loved ones. Working directly with your legal team you will have the ability to create wills, durable powers of attorney, living wills and even complex trusts. These legal instruments will not only help you create the legacy that you would like to leave your loved ones like it also potentially help you save tax dollars in retirement and certainly tax dollars saved to your estate. Each of us believe the legacy, now you have the power to decide what that legacy is and how you would like impact the lives of those you love.
 

Promises:
Working together with Life Focus and your Secure Advantage Money Coach you'll

• Take a realistic look at life and develop achievable second-half goals
• Match your changing investing appetite to your change of life stage
• Develop a spending plan that supports your goals
• Make the most of the age bracketed changes in tax law
• Get a free consultation and a discount on fees when you work with an attorney on estate planning and a will.
• Have more money in your pocket at the end of every month, guaranteed.