As we wrap our series on employee benefits, we’ve discussed that many of you have group life insurance and perhaps an additional term policy outside of work. For you, we talked about the possibility that we could save you some money if you’re over 50 and healthy. I’m sure a few of you reading this may be thinking, “Okay, I’ve done that, and there’s nothing more I need to do. I’m set. When I retire I won’t need life insurance because I’ll have saved up enough money.”
Well, that was a heck of a Derby! I have to say, never before can I recall a 10-day period where I got to watch pro soccer, pro baseball, the NBA playoffs, the start of college football, the Kentucky Derby and tonight, the start of NFL football!
It seems to me like the whole world has just hit the reset button, sort of like when your computer is acting weird, so you just hit restart, hoping to smooth things out a little. We’ve looked for answers in Netflix. We’ve set up creative home offices. We’ve bought masks bearing the logos of our favorite sports teams while wondering when we’ll get to see them play again. We’ve accepted (some of) the things we can’t change, and we’re adjusting accordingly as best we can.
So, you’re finally planning on leaving the daily grind and putting your working days behind you – or are you..? As work-from-home orders continue in many professions, I’m hearing from more and more clients who were determined to retire on July 1, or December 31, who are now thinking they may not be completely out the door and done.
For our final life stage of Fee For Plan as well as our final Thursday Thoughts, check out what Dave has to say about Retirement!
Learn more about our Fee for Plan Retirement package.
As folks inch closer and closer to retiring, one thing absolutely everyone asks us at some point during a meeting is, “How do I stack up to other people my age?” The reality is, it doesn’t matter how you compare to anyone else, and besides, you don’t get to automatically retire just because you’re an above average saver, or you’ve hit a certain number. Comparisons to others have no place in retirement planning. What does matter is actually planning out what your retirement will look like on a daily, mundane basis.
Today, I want to talk a little about the emotional side of why I got into this business in the first place. Now, you’re thinking, “Dave, aren’t you a numbers guy?” And the answer is yes. I am. I love the financial markets, and helping people work toward their financial goals, whatever they think their “magic number” might be. However, although it’s true that I chose this profession and then chose to start my own company because I enjoy crunching numbers, I also chose this profession because I truly do love to help people.
This month, we’ll be talking about the emotional realities of preparing for and being in retirement. While we could keep this short and sweet and simply tell you to save enough and then spend a certain fraction each year after you retire, well, we all know there’s more to it than that.
*Representatives are licensed to offer insurance and annuity products in AL, AR, CO, FL, GA, IN, KY, MA, MD, MI, MO, MS, NC, NH, OH, PA, SC, TN, TX, WV, VA, and WA and are licensed to offer investment products in AL, AR, AZ, CA, CO, CT, FL, GA, IL, IN, KY, MA, MD, MI, MN, MO, MS, NC, NH, NM, NV, NY, OH, PA, SC, TN, TX, UT, WA, Washington DC and WV. This website and its content are not intended for residents of other states. Securities offered through: The O.N. Equity Sales Company, Member FINRA/SIPC, One Financial Way, Cincinnati, OH 45242. 513.794.6794 Investment Advisory Services offered through The O.N. Investment Management Company. Estate Planning Services provided in conjunction with your licensed legal advisor.