Now retired or soon to retire, there are so many questions about your money. Investments? Income? Taxes? Social Security? Medicare? Trusts? Beneficiaries?
But the single most important question you have to ask yourself about your money is:
“Do You Want To Try To Be Rich, Or Do You Want To Guarantee You Will Never Be Poor?”
At retirement, we have found that no one wants to be poor, but most people continue to invest their money in a way that could make them rich, but could just as easily make them poor.
Stage One of retirement planning is called Asset Accumulation. This is when you are working, willing to invest aggressively, have time to make up large losses, are still making a salary, are still saving, and don’t need your assets for income. I guess you could say the goal, and definition, of Stage One is to try to be rich.
Stage Two of retirement planning is called Asset Preservation and Income Distribution. You’re retired or soon to be retired, can’t afford to suffer any large losses, don’t have time to make up for losses, are not making a salary, and need your assets to create income for as long as you live. The goal, and definition, of Stage Two is to guarantee you won’t be poor.
You saved your money to be able to use it to create income that would last for as long as you lived, so that you could have an enjoyable and secure retirement. You didn’t save it to worry about or to watch it skyrocket up and down on a daily basis.
You saved your money for decades for one purpose: To Guarantee You Will Never Be Poor.
If you want to learn how to guarantee you will never be poor during retirement, call us today.
Vipul Varma
VIP Financial
402.547.0395
Financial Advisor in Parker Colorado
Wealth Management