Whiteboard Video from YouTube:
Pretend that you are driving across country, just entered a very large desert area, and realize you have a broken fuel gauge. You know you just filled up a short time ago, but have no idea how much gas you have in the tank, and how far it will take you. You don’t know if you will actually make it across the desert. Would you keep driving or would you turn around and get your fuel gauge fixed? You’d probably turn around.
So why do you keep going through retirement without an actual plan? Why do you continue on knowing you could be at risk of a big loss and running out of money?
Isn’t this the same thing as driving through the desert with a broken fuel gauge? It’s exactly the same thing, because going through retirement without a written plan, not knowing exactly how much risk you are taking right now, and using assets that could run out at any time, is EXACTLY like driving through the desert with a broken fuel gauge. You might get lucky, but you better not bet your life, or your retirement security, on luck and hope.
Think of your fuel tank as how much you have saved right now. Fix your retirement fuel gauge by:
#1. Creating a comprehensive written retirement income showing exactly where you’re at right now, where you want to go, and how you’re going to make it there safe and soundly.
#2- Know exactly how much risk you’re taking and reduce this risk to an acceptable level. Suffering a huge loss to your portfolio in the next stock market crash is like running out of gas in the middle of the desert, you’re probably not going to make it out in good shape.
#3- Know exactly how much in fees you’re paying and reduce them. Paying too much in fees is like your fuel tank leaking gas in the desert as you’re driving, it’s going to significantly reduce how far you can go on your tank of gas.
#4- Create dependable monthly income, income that’s guaranteed to be paid to you for as long as you and your spouse live, regardless of stock market crashes, regardless of returns, and regardless of how long you live.
If you want to fix your retirement fuel gauge, and make sure you don’t run out of money during your lifetime, call us today.
Vipul Varma
VIP Financial
402.547.0395
Financial Advisor in Parker Colorado
Estate Planning