On the series premiere of Retirement Planning Made Easy, Brian P. Nauman, Brad N. Nauman, and Lucas G. Dengler discussed important and essential strategies every pre-retiree and retiree should be aware of, so that they can secure a sound financial future.
From Brian, Brad, and Lucas’ experience, one of the biggest challenges they see clients facing is the over-reliance on 401(k)s and IRAs. These accounts are paramount early in life during what experts call “the accumulation phase”, but without the proper strategies in place can have drastic consequences down the line. The Advisory Group urges all its clients to focus more on structured strategizing, rather than relying on withdrawing money as needed and facing potential penalties. Designing an income plan for your specific situation helps align savings, potential taxation, and lifestyle goals to hopefully provide sustainable income to and through retirement.
The team also had a rousing discussion on the topic of a diversified portfolio. Where they touched on diversification beyond the classic mix of investment opportunities by considering ways to incorporate various types of assets that when working together can potentially reduce risk in the long-term.
Additional items covered in this episode:
- How to plan for the loss of a spouse.
- Importance of a well thought out estate plan.
- Understanding ACTUAL risk levels.
- And Much More!
Our biggest takeaway from the episode is not to think about retirement planning as just saving money, but to think about it as a comprehensive and personalized strategy designed with income streams, tax efficiencies, and risk management in mind, so that you can enjoy your golden years.
Start Planning Your Financial Future Today
Whether you’re approaching retirement or already in it, we encourage you to contact us, so that we can help you create a diversified portfolio that helps set you up for future success and is designed to fit your specific needs!
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