Retirement Income Planning

Biggest Retirement Fear

One of the biggest retirement fears that we have is running out of money. So let Ron, let Christie let the team at One Family Financial create an income plan that works for you. Tell me about our first meeting. What, what does that look like? What are we going to discuss? You know, you’re going to help me put together an income plan. What does that first meeting feel like?

What happens?

People come in and we always enjoy meeting them and talk to them and we want to get to know them and then get to know us. And we talk about things just like, we’ve been talking about, you know, a lot of times I say, well, what is it you’re trying to do? So we’ll make money. Well, yeah, that’s fine. Everybody. I don’t know anybody who doesn’t want to make money, but it’s how you make it. And what risk do you want to take? And, and various things such as that. So financially, you know, we’ve got to find out what their interests are because a lot of people have just really no idea about what we’re talking about doing.

But it’s really an unfortunate thing because people need to have a basic understanding. And you can find that when talking to folks, if they’ve done any of that, or if they know what they need to do to save money, you have to be able to save some money and then get it started putting it into something that will give you a return and basically, and you want most your money in a safe place. But that doesn’t mean like a CD and get a 1/2% return. I mean, it’s ridiculous the rates on CDs. So there’s a lot of other things you can do though with safety and still get really good returns. But you have to find out about these things. And most people they hear, well, I heard, you know this woman tell my paperboy, that she knew someone that could get her a good return on her money.

An example

And that’s not too far-fetched we hear that. I had one guy that I showed him when the last 50 years, if he’d had his money, rather than in CDs, because a regular CD, you have to pay taxes on it every year. Whether you take the money out or not, it really cuts into your return. And I showed him on paper. I said, look, you would have been $150,000 better off than you are right now on your money. And he says, well, I’m going to have to talk to my son about that. I said, well, that’s fine. What does he do? He said, well, he cleans swimming pools now, nothing wrong with that. There’s nothing wrong with cleaning swimming pools. But I don’t know if that will help you to know what to do with your money.

So we have to find out what somebody’s interests really are. But I had one guy and his wife and they were getting ready to retire. And he had lost money in the market before. And he says, well, I have a lot of money in my 401k. And he had a lot of money. He didn’t have a lot of money in there. And that’s when the market got struck in 2008. And he got all of his money out. They both did. Just five days before the market crashed. Just amazing. I had a friend of mine who was a gambler. He loved to gamble. And he said, but the thing is, you can only stand up the table, throw the dice so long. And you got to take some of your money off the table and get out of there. And Warren Buffet said that not too long back, he said, it’s time to take some of that off the table and put it away or have it doing something different for you. Because if you just keep doing the same thing, the same old way, you know? And when that market goes down, they don’t warn you all tomorrow afternoon, the markets are going down. So it just bam when it hits, it hits and this world, the way things are going right now, it scares me to death about what’s going on financially. Because when these things happened, there’s, there’s some kind of consequences that comes about. And it’s usually not too good.

Start the conversation

create an income plan that works for you, works for your lifestyle. Ron and Christie want to help you out 1FamilyFinancial.com 423-710-2009.

Getting a free wealth plan

So give us a call. We can help you more with protecting, growing, and managing the savings you’ve accumulated. We can also help you create a wealth plan, and there’s no charge or obligation.

It’s amazing how reducing things to writing and seeing it written down can be an eye-opener. And that’s what we provide for you. We provide it free of charge. So give us a call at 423-710-2009. We’ll be glad to help you.