Achieving Retirement Clarity

I recently heard a very apt metaphor that compared retirement planning with climbing a mountain. The ultimate goal of climbing a mountain is not to reach the peak – it’s to summit and then safely descend to the base. In fact, 80% of climbing accidents occur on the trip down. Why? Largely because the preparation and planning focus on the climb up the mountain, and the risks of the descent receive far less consideration.

In the same way, successful retirement planning should focus on more than the goal most people imagine – carefully accumulating and wisely investing sufficient assets. It also should include thoughtful and comprehensive plans for how and when those assets will be distributed during retirement years. The question is not “Do I have enough?” The real question is, “How much can I withdraw?” –particularly during a time of life that includes significant risks people often don’t recognize.

For example, does your plan include cash liquidity for emergencies? Will your longevity outlive your assets? Can your retirement income withstand the sequence of return in a volatile market? Will  your savings and investment returns keep pace with inflation? Will you be among the two out of three people age 65 or older with a health issue that will require some type of long-term care? How will you avoid leaving your survivors with a financial burden and instead provide an intentional legacy?

Some 71% of individuals are not on track to achieve their retirement goals.¹ Many people spend more time planning for a two-week vacation than they do for a decades-long retirement – life’s longest vacation!

With our Life & Legacy™ planning process, we address all of these risks, as well as the unique personal concerns every family has about the future. We begin with cash flow management to direct how resources are spent and saved. We use wealth accumulation strategies to assess clients’ financial positions and identify the most efficient path for reaching their ultimate objective. And we incorporate income protection features that provide a safeguard against obstacles that can prevent financial goals from becoming reality.

With a holistic and comprehensive plan in hand, our clients experience confidence and clarity about their future.  Through our annual refinement process, we revisit and update the plan so that it remains relevant and achievable as circumstances change.

If you are a Wealth Impact Partners client with a Life & Legacy Plan in place, you are among the 30% of people who are on track to reach their retirement goals. Congratulations and thank you for the confidence you have placed in us to help you reach your goals. You have a powerful and motivating message for family and friends who are unprepared – and we invite you to share this information with them.

If you are reading this and realizing that you need and want to begin this planning process, please contact us to discuss how to begin. Climbing a mountain to reach the summit and safely return begins, as every journey does, with the first step. We’re here to help you take it.

Peace,

Ron Ware

Disclosures:

The material contained herein is for informational purposes only and is not intended to provide specific advice or recommendations for any individual nor does it take into account the particular investment objectives, financial situation or needs of individual investors. Any tax advice contained herein is of a general nature and is not intended for public dissemination. Further, you should seek specific tax advice from your tax professional before pursuing any idea contemplated herein. This advice is being provided solely as an incidental service to our business as insurance professionals and investment advisors.

Neither Wealth Impact Partners, Valmark Securities nor its affiliates and/or its employees/agents/registered representatives offer legal or tax advice. Please seek independent advice, specific to your situation, from a qualified legal/tax professional.

Securities offered through Valmark Securities, Inc. Member FINRA/SIPC. Investment advisory services offered through Valmark Advisers, Inc., a SEC Registered Investment Advisor. 130 Springside Drive, Suite 300 Akron, Ohio 44333. (800) 765-5201. Wealth Impact Partners is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc. BSW Inner Circle and AES Nation LLC are separate entities from Valmark Securities and Valmark Advisors.