Our philosophy at Statewide Retirement Planning Co. is to work with our clients through education and information. We feel strongly that this approach will enable our clients to make better and more informed decisions. With this in mind, we have decided to send out a regular newsletter filled with information regarding all aspects of retirement and the retirement planning process. We hope that you enjoy reading these newsletters and are able to use the information to make your retirement years more secure and enjoyable than it otherwise might be. Manage Your Assets Like A Football TeamIf you are an Indianapolis Colts fan, how do you feel about the upcoming season without Peyton Manning? How well will the Colts do without their offensive superstar? There will be new players leading the team developing it into a contender for another championship. This question is analogous to your retirement assets (which can include savings, CDs, 401(k)s, money market, etc.). In this analogy, your retirement assets represent the offense. You have the quarterback, wide receivers, tight ends, etc. These assets work to put “points” on the scoreboard. One of the first questions to ask is if your assets are playing as efficiently as possible. Is there a player on the field who should be on the bench? Are all your assets working together in a way to effectively pursue your retirement needs and protect your family’s finances? The second question is if your assets will work in most circumstances? Will they continue to “play” if they get injured? For instance, what if the breadwinner of the family loses his/her job? Would that threaten the performance of a 401(k) over time? Or even worse, would the rest of the family be able to carry on and maintain its’ lifestyle? You should also figure out which of your assets is the “star player” and determine if it would still be able to score points and perform in all or most circumstances. Just as a football team’s fortunes can suffer from injuries or retirements that lead to underperformance, your assets may be exposed to risk if they are not properly protected. Start to look at the game a bit differently — add new players (assets) and take out the ones who aren’t up to the challenge. You want to strategically position yourself to perform well for many seasons to come and hopefully win the big game — retirement.
Call us now at (954) 781-2220 or fill out this short survey to find out more about how you might receive guaranteed* income for life and protect your principal at the same time!
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