RESPONDING TO HEADLINES IS NOT A FINANCIAL PLAN

September 22nd, 2011

There is and there may never be a shortage of doomy and gloomy economic headlines. Disastrous economic “trends” and shortsighted monetary policy decisions are natural fodder for the fearful among us. The fight or flight hard-wiring in all of us makes us easy prey for financial journalists.

Please don’t misunderstand me – these things do matter and they will have consequences. But while we are trained to fear these events we all too easily forget about the here-and-now. Have you taken stock of the money that is falling through the cracks today and each day thereafter? Are you settling for near-zero interest rates on your emergency funds? Maybe better planning could change that. Are you receiving Social Security income and unknowingly paying unnecessary taxes on those checks? Are you paying into or holding onto an old whole life insurance policy long after the original intent for the policy has been satisfied? Do you have an asset that you plan to pass on to the kids or grandkids that might leave them with a monster tax bill rather than the total value of the asset?

While none of these ideas are as dramatic as the headlines that are thrust upon us each day, the effect of these decisions are within your immediate control. Could it be that you are seeking control in all the wrong places?

You have options to take back control and possibly find money that is falling through the cracks year after year without you knowing about it. Rather than dwell on future events that may never come to fruition, consider what you can do right now.

Check out our website by clicking on the banner above or the button to the right. We can help you find the money today and take back some control.

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SOCIAL SECURITY DILEMMA CREATES DILEMMA

September 1st, 2011

One of the most common questions people face when approaching retirement is when to take Social Security. Admittedly, for some it’s simple – I need all the income I can get so I’m taking it NOW. Fair enough. For others, the decision requires a closer look.

When you have some time to burn, search for articles on the subject. I’ll make it easy for you, click here and here to get started. The conclusion that authors reach is invariably “It depends.” It depends on so many factors. For example, how long do you plan to live? The mathematical break-even is often quoted as 77, meaning that a person who lives beyond 77 years of age would have been better off waiting until 66 to take Social Security rather than age 62. Got a crystal ball?

What about the growth rate of your other investments? If you use other assets to create income instead of tapping Social Security, how does rate of return change the equation? On top of that, you may believe that Social Security is running out of money. So why not take the money while it’s available?

The dilemma that this single issue creates begs the question: who are you trusting to help you make these decisions? Clearly, there is more than math to consider here.

If you are wresting with this decision among the many others concerning your pension, annuities, investments, taxes and insurance – call us. This is precisely what we do. In fact, we will teach you the critical questions to ask before you make all of your retirement planning decisions. Let us help you rest in the peace that comes from looking at the issues from all sides before you decide.

Posted in Business Owner Retirement Planning, Social Security | No Comments »