You Remember That Commercial? What’s Your Number? People Are Walking Around With That Number on the Top of Their Heads. We’re Gonna—Well, We’re Gonna Talk About What Your Number Actually Needs to Be.
Announcer 00:00
Investment advisory services are offered through Foundation Investment Advisors, LLC, an SEC registered investment advisor. Brian Quaranta and his guests provide general information, not individually targeted, personalized advice, and are not liable for the usage of information discussed exposure to ideas and financial vehicles should not be considered investment advice or recommendation to buy or sell any of these financial vehicles. This information should also not be considered tax or legal advice. Past performance is not a guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company.
Steve 00:42
Hey, welcome in everyone. This is On the Money with Secure Money, Brian Quaranta’s here. My name is Steve Sedall, and the big question that everyone is asking about retirement, what’s your number? How much do you really need before you can say goodbye to the nine-to-five grind? Well, here’s the truth. It depends. There’s good news, though, we’ve got some strategies to help you on today’s show. Brian Quaranta, yes, those strategies come straight from you.
Brian Quaranta 01:07
They sure do. Yeah. You remember that commercial? What’s your number? People are walking around with that number on the top of their heads. We’re gonna, well, we’re gonna talk about what your number actually needs to be when we come back with On the Money with Secure Money.
Speaker 1 01:31
Do you ever feel like you are fighting for financial knowledge? Don’t let bad advice be a punch in the gut to your retirement. Take advantage of a complimentary no cost, no obligation, consultation with a local trusted financial coach. Call Brian Quaranta at 800-656-8616 or text Brian Q to 800-656-8616 that’s 800-656-8616 or text, Brian Q to 800-656-8616, 800-656-8616.
Announcer 02:06
And now On the Money,
Brian Quaranta 02:07
Any good retirement plan starts with the foundation,
Announcer 02:11
Asset protection, tax reduction, holistic planning.
Brian Quaranta 02:15
These are the things that start to move you towards having a retirement plan.
Announcer 02:19
Retirement doesn’t have to be complicated.
Brian Quaranta 02:23
You think that’s the difficult part that’s just getting started.
Announcer 02:26
And now On the Money with Secure Money.
Steve 02:33
We’re back On the Money with Secure Money. My name’s Steve Sedall, Brian Quaranta is here. Brian, of course, an author of the book called Right Track Your Retirement, a simple planning strategy to help you reduce risk, build income and provide peace of mind. The book. I mean, I’ll tell you what I you cruise through that book and it’s, it’s like, oh, that’s refreshing, yeah, really is. There’s nothing terribly heavy. It’s a lot of common sense. That’s right. It makes, it just makes sense, as you kind of walk us through that. I mean, hey.
Brian Quaranta 03:00
Yeah, I know. And you know, we’ve got a big surprise coming up. I might as well spoil it, because and let everybody know that you know that you’re going to be doing our audio book version of that. Yes, yeah, tackling that, yeah, that’s so- that’s going to be exciting, that the listening audience will now have the opportunity to not only get a copy of the book, but also soon, with that, they’ll get a downloadable audio version of it. That’s nice. That’s really cool. Yeah, yeah. You know, Tony Robbins used to call this NET time. You should be using NET time, which stands for no extra time and what he meant by that was you can be doing things while you’re doing other things. So, if I’m driving, I can be listening and learning, and so you’re not using any extra time to learn because you’re already driving. Zig Ziglar-
Steve 03:57
I do it all the time.
Brian Quaranta 03:59
Yeah, remember Zig Ziglar.
Steve 04:00
I do remember that, my dad was a big, big fan.
Brian Quaranta 04:03
But, yeah, Zig Ziglar is great, but he had a phrase he said, if you’re not taking advantage of AU, and AU was his abbreviation for automobile University. Anyway, yeah, so these numbers we’re talking about on today’s show, right? The big number, what is it? Well, you know, the reality is that that’s actually very misleading, because people think that they need to have a certain amount of money to be able to retire, and they think that there’s some magical number. And the reality is, there’s just not. What it really comes down to is, are you going to need to replace your paycheck? And if you are going to need to replace your paycheck when you retire, the question is, how much of it are you going to need to replace? And then that is really what. Going to determine what that number is, because if you need $25 or $30,000 a year in additional income, then the number needs to be able to support withdrawing that type of annual income and in many cases, that number can vary based on how you decide to approach retirement strategy, because if you’re trying to replace your paycheck by using a diversified portfolio of stocks, that number is going to need to be much higher. The amount of money that you actually are going to need to be saved is going to be a lot higher, because you’re going to have to account for volatility. Whereas if you were to use, let’s say, an income annuity, where we’re buying insurance to replace our paycheck, we can use a much smaller amount. I’ll give you a good example. Let’s say someone needed $40,000 a year in additional income. The traditional Wall Street advice is going to tell you that you need about a million dollars saved to be able to do that. Steve, under our strategy, which I talk about in the book, which is our two bucket approach, we can use 40% of that million dollars to generate the 40,000. So, I can use $400,000 to generate $40,000 a year in income. So, where Wall Street’s strategy needs a million dollars, our strategy only needs 400,000, and it all depends on how you approach this. So, if you haven’t gotten a copy of my book yet, I would tell you go to RightTrackYourRetirement.com, and get a copy so you can read about how to do this.
Steve 06:50
Well, and I think one of the things that would- that you talk about in the book is just getting real about our expenses. I mean, everybody has to have a budget as much as we don’t want to. We’ve got to, and it’s just a matter of lifestyle. How do you want to maintain your lifestyle?
Brian Quaranta 07:03
Yeah, and I would tell you, forget that old advice that you only need, like 70 to 80% of your pre-retirement income. You ever hear that one before?
Steve 07:11
Oh, I have again. Like you said earlier, how much of my- my paycheck do you want to replace? I want to replace 100%, Brian, that’s my goal.
Brian Quaranta 07:20
Yeah, absolutely. And that should be everybody’s goal, and if not replacing 100%, getting 125% of what you were making.
Steve 07:26
Ooh, even better!
Brian Quaranta 07:28
Yeah, and that’s what- there’s two expenses in retirement. The I need expenses and the I want expenses. The “I need” expenses are food and shelter. All right, I need this amount of money to provide myself with food and shelter. “I want” expenses are I want to give to my grandkids, I want to take my family on trips, I want to buy a fishing boat, I want to join a country club, we want to travel three or four times a year. Those are “I want”. And you want to build a retirement around I want, because what was the purpose of sacrificing all these years if you’re not going to get the opportunity to do all the things you promised yourself you were going to do that bucket list that we all talk about, right? And so, we want to have the strongest, the safest and the highest amount of income we can possibly get in retirement. And I truly believe that the strategy that I talk about in Right Track Your Retirement, the income strategy I talk about in that book is the way that you’re going to maximize the amount of money that you can get from the money that you’ve saved, and because remember, folks, every day is going to be Saturday or Sunday in your retirement. So anyway, go to RightTrackYourRetirement.com get a copy of my book, and Steve will tell you how you can call in and get a complimentary retirement review.
Steve 08:56
Absolutely, it’s a phone call away at 800-656-8616 great opportunity for you to get a financial roadmap put together. And again, there’s no cost, there’s no obligation that well, really, it’ll help you get a better handle on your current financial situation. You’ll find out things like what your investments are really costing you because of fees or commissions. How about tax implications? Certainly, something that’ll be discussed. And how much income can you generate once you move into retirement, those questions and more answered when you call Brian right now. 800-656-8616, 800-656-8616 we’re going to take a quick break. When we come back, we’re going to continue the conversation here On the Money with Secure Money and Brian Quaranta coming up.
Brian Quaranta 09:36
Have you ever wondered how people used to plan for retirement before we had all this technology. Stick with us, because we’re about to take you back to the Roman Empire for four historic lessons on financial planning during the glory days of wine and gladiators when we come right back with On the Money with Secure Money,
Announcer 09:59
And now On the Money with Secure Money.
Steve 10:08
We are back On the Money in Secure Money. And Brian Quaranta’s here. My name’s Steve Sedall. We are talking, boy, ancient history, Gladiator, right? That’s a big movie, right? I’ve not seen it. Have you seen it?
Brian Quaranta 10:17
I, you know I haven’t, but I believe, well, Gladiator two, right? That’s what I’m talking Yeah, right, yeah, glad to hear too. No, I have not seen gladiator two, of course. Gladiator the original, one of my favorite movies, such a fantastic movie. Yeah, I actually, I loved it. I don’t know what Gladiator two is going to be like, but I should go see it, actually.
Steve 10:38
Mixed reviews is what I’m hearing. Oh, okay, but here’s what’s interesting. I mean, to say, I mean, the post is a great question at the beginning, how did they plan for retirement? Or did they back in those days when, you know, we didn’t have things like- those reliable things like Twitter.
Brian Quaranta 10:57
Haha! Yeah, right! Yeah, haha.
Steve 10:59
How did we do it, Brian, what did we do? I
Brian Quaranta 11:01
I don’t know. I don’t know. I mean, I think every generation will say that, right? How did we used to do it? I was just talking to somebody the other day about how the fact that boredom really doesn’t exist anymore. You know, when’s the last time you heard a kid say their mom and dad, I’m bored. I’m bored. I’m bored. You usually don’t hear that as much anymore, because these kids can be on their iPads or playing video games. Yeah, you know, I certainly know, even for myself, I’m not bored, because if
Steve 11:29
Well, you got two kids- that are young.
Brian Quaranta 11:31
Yeah, that- that- that definitely, yeah, that is absolutely 100% correct, Steve, but let’s talk about those four historic ways to pursue financial freedom. So, yeah.
Steve 11:44
The Roman version of a 401(k), really? What do you see that as?
Brian Quaranta 11:48
Well, Roman soldiers couldn’t retire early. How (indistinct) they typically serve.
Steve 11:51
Well, they were just dead, right?
Brian Quaranta 11:53
Yeah, right, right, right, yeah. Can you believe they served 20 to 25 years though?
Steve 11:56
Holy cow, that’s most of their life.
Brian Quaranta 11:58
Yeah, I know. I mean, you know, upon retirement, though, listen to this. This is amazing. They received a lump sum payout or a land grant. I think you pronounce it praemium. That’s what it was called, a praemi- praemium. Okay? Essentially, it was a pension to sustain them. And this is like, if you do your research on annuities, you’ll find that annuities go back to this, you know, Greek, Roman time. No kid, yeah, it’s absolutely incredible. And so, I, you know, I thought it was a bunch of storytelling when I first heard it, but when you when you trace it back, which I did for, you know, when I wrote the book. But, yeah, annuities go back to Roman times. It’s and it was a way for them to receive income on a monthly basis, to sustain them during their later years. You know. So, I mean, look, nothing has been everything we’ve we think it’s already been invented or talked about at one point or another, right? It’s already been thought of. Who would have thought that the annuity was created so long ago?
Steve 13:05
I didn’t know. No idea. Yeah, and that again, it still is with us today, obviously, and is very beneficial for some people.
Brian Quaranta 13:13
Well, look, I think it’s one of the smartest approaches you can take in retirement. Now, I’m not telling anybody to run out and go purchase any type of annuity, because there’s lots of different types out there. But certainly, look, I have to retire someday too. Let’s not forget that. Okay, so I take my own advice. I mean, I buy a new annuity every single year, and the reason I do that is because I will ladder those over time. And so, in retirement, I’ll be able to turn them on all at the same time, or I’ll be able to turn those annuities on at all different times. And so, you know, if I turn the first annuity on and it provides me, let’s say, $1,000 a month, and I feel like that’s good enough, and but if it’s not, I can turn another one on and get another $1,000 a month. I could turn another one on. Another one on, get another $1,000 a month. So, yeah, look, I mean, I take my own advice, because at the end of the day, as much as I believe in Wall Street and I believe in investing in the market, I also know that if volatility comes around at the wrong time, like when I’m ready to retire. I don’t want my retirement to be determined whether or not my investments are performing well, and a lot of people are going to have to rely on the markets performing well and cooperating to be able to retire. I want to take that risk out of the equation so that I can have a retirement like they did 40, 50 years ago, where we knew exactly the day that you were going to be able to retire, and that’s exactly the type of retirement that I’ve built for myself.
Steve 14:46
Sure. Well, and again, you mentioned you could turn on this income and you could turn on that income. Can you turn it off as well? If things are better?
Brian Quaranta 14:53
Great question, Steve, you absolutely can, you absolutely can turn it off. So that’s the great thing about these income annuities. And, by the way, not every single income annuity can you turn off, but I like the ones that you can turn on and off, okay, and but I also like the ones that are guaranteed for your spouse. So, you know, if you’re- if I die, Katie will continue to get the annuity income, and then if she dies, any balance left in the annuity is paid out to the boys, and so this way I know 100% of the money is going to my family, one way or the other.
Steve 15:25
One way or the other. Yeah. I mean, How comforting is that?
Brian Quaranta 15:29
It’s incredibly comforting. I don’t know how anybody could stand up on a platform and say, I hate annuities, and you should do, you know. And by the way, I don’t know how anybody can call themselves a fiduciary, if you’re not utilizing every financial product that is in the marketplace today for the clients, because a lot of these guys that say, Hey, I’m a fiduciary, and they wear like a badge of honor, the only thing they work with is risk investments. I mean, if the definition of a fiduciary is to do what’s in the best interest of the client, how come you’re not looking at things like annuities and, you know, insurances, life insurance, you know, long term care insurance, they all of that stuff can be used to invest and support the wealth in retirement, and a lot of fiduciaries only work on the risk side. And I don’t know how they get away calling themselves fiduciaries when they’re not doing it all.
Steve 16:27
Right, well, and again, you bring up a great point. If you’ve got questions like that, I’m sure Brian can help answer them. 800-656-8616, 800-656-8616 and so we’re talking about ancient times and retirement. How does that compare? Well, I think it’s an interesting correlation, because we talk about the wealthy elites.
Brian Quaranta 16:48
Roman retirement versus today, I would say structured military pensions were the closest thing to today’s 401(k) or Social Security. That makes sense. You know, wealthy elites lived off of passive income, so much like today, wealthy elites live off things like real estate. That’s usually what they’re using for a form of income. But a lot more wealthy are living off of annuities, because essentially, it’s real estate without the headaches, right? You don’t have to worry about vacancies. You don’t have to worry about somebody calling in saying the plumbing isn’t working today or the electricity is not working. So again, I would tell you, folks, go to RightTrackYourRetirement.com, get a copy of my book. It’s absolutely free. Schedule a time to come in and sit down with the team and get a Right Track Retirement Review where we’ll go over five keys with you. We’ll look at your income, your taxes, your investments, your healthcare strategy and your estate planning strategy, and get you on the right track. And if you are on the right track, we’ll let you know that also, but if you’re not, we’ll share some things that you can do to improve retirement and get it on the right track. 800-656-8616
Steve 17:49
is the number goal here at the show, helping you make the best decisions for you when it comes to your retirement. So, if you do have questions about the kinds of things we’re talking about, maybe it’s annuities. Well, now’s the time to give Brian a call and find out. 800-656-8616, 800-656-8616, quick break. We continue the conversation here On the Money with Secure Money in Brian Quaranta right after this.
Brian Quaranta 18:10
Retirement today looks nothing like it did a few decades ago. The landscape has shifted, and for many, the retirement dream of the past doesn’t quite match the reality of today. So, let’s break down what you can do to help your retirement today, when we come right back On the Money with Secure Money.
Speaker 1 18:31
Do you ever feel like you are fighting for financial knowledge? Don’t let bad advice be a punch in the gut to your retirement. Take advantage of a complimentary no cost, no obligation, consultation with a local trusted financial coach. Call Brian Quaranta at 800-656-8616 or text, Brian Q to 800-656-8616, that’s 800-656-8616 or text Brian Q to 800-656-8616, 800-656-8616.
Announcer 19:05
And now On the Money with Secure Money.
Steve 19:12
We’re back On the Money with Secure Money. And Brian Quaranta, my name’s Steve Sedall, this is again- I like this, Brian, we’ve been we went through ancient Rome, we and now we’re kind of back, you know, 1999 It was a time everybody was talking about, oh, 1999 and the year 2000 and all that kind of stuff. So, retirement planning has come a long way even since then. Yeah, I know. And really, even since ‘99 people are living longer. I mean, again, I think about the late 90s. I mean, you know, I lost both my parents in that time frame. And I think now it’s like, I mean, medicine advanced, I’m sure they would have made it a little bit longer.
Brian Quaranta 19:49
Yeah, I mean, look, I mean, back in the late 90s, retirement planning was based on the idea that you would enjoy a couple of decades of relaxation after leaving work. But today, I mean. Retirees are living 30 years or more in retirement, and that means their savings needs to last much longer. And if you think about the magnitude of that, that studies are showing that you could spend more time in retirement than you did working. I mean, that’s incredible.
Steve 20:15
It is well, and it’s very true, though, and I think I love this line. My grandpa’s retirement plan was a gold watch and a pension, Mine is a spreadsheet and a diversified portfolio. Ka-boom. That’s the fun in it, yeah?
Brian Quaranta 20:27
Because grandpa didn’t have to worry about where his money was coming from. His company was providing it to him in the form of the pension, and he didn’t have to worry about how that pension was invested, no.
Steve 20:39
If things got tough, you could sell that gold watch.
Brian Quaranta 20:41
Yeah, but speaking of, speaking of diversified portfolios and spreadsheets, you know, one of the things that people really love about our retirement planning is the fact that when you come in, we don’t magically disappear behind a curtain and come back and say, ta da, here’s how we can fix your retirement. And you go, Well, geez, how did you come up with that plan? And why did you make that recommendation? And why are you building my income that way? The way that we plan with our clients and potential clients is we like to do it together. So, we bring up retirement income planning worksheets, we bring up what we call an income for life report, and we start to map out right there with you on a spreadsheet, everything that we need to have happen. And then we start to look at what you’re currently doing versus what you could be doing now. If what you’re doing is on the right track, and we’re getting enough interest in income and growth from your portfolio, and that total return that you’re getting is going to provide you with your needs and your wants in retirement, then you’re probably in a good place. But for a lot of people, they’re missing a good portion of safety within their portfolio. A lot of people are taking way too much risk with their money. Now, typically that comes at the advice of their advisor. And you know, I’ve always said, you know, when I was in working for the big box firms, I had said that, you know, it’s really easy to tell somebody to risk their money, especially if you get paid a fee or commission to do it. I mean, let that sink in for a moment, right? It’s kind of like the real estate agent, the real estate agent. It’s very easy for the real estate agents to say, No, I would put your house up. You know, at this price, otherwise, the market’s not going to it’s not going to sell. But in fact, the real estate agent has a vested interest in that property selling sooner than later, because they get paid on it. So if you want to ask a higher price for it. That means it’s going to be a longer sales cycle for them. It’s just the reality of life, right? I mean, you can apply that to anything, and so, you know, you’ve got to be careful when you’re getting advice from people that are getting paid a fee to take risk with your money. Because, you know, at the end of the day, it’s easy for them to tell you not to worry about it. It’s just a paper loss. Hang in there. You’re in it for the long haul when there’s volatility. But it’s not their money, and they’re also getting paid. You know, when your money’s in these accounts, so just be skeptical of those things. I mean, you know, a lot of people have always said, Oh, someone that is going to recommend an annuity, all they care about is getting paid a big fat commission. Well, let me tell you something. We all- we not only do annuities, but we do assets under management too. I’ll take the fees that we get for assets under management all day over a small commission from an insurance company. You know, 3 to 4% is what an annuity might pay an advisor. Now, there’s ones out there that pay a lot more, but they’re junk. They don’t- they’re not going to give the best to the client, and we know that because we use a software that tells us what’s the best and we utilize that software with the client there, so they can see which ones are ranked at the top. And the ones that are typically ranked at the top, Steve, are the ones that are giving the client the most bang for their buck. And in order for the client to get the most bang for their buck, there has to be something on the other side of that equation that gives and usually that’s how much the advisor gets paid. So, the less the advisor gets paid, the more bang for the buck for the client, right? So, you know. But again, I’m not saying that profit or fees or commissions is a dirty word. What I’m saying is, if you’re somebody like I was, where you’re thinking to yourself, gosh, I’m so uncomfortable at risk, and I’m not going to buy into this. It’s just a paper loss. Hang in there. You’re in it for the long haul. If you’re feeling that way, when you sit down with your advisor and you’re like, wow, they’re a really nice person, and I think they do care about me. Of course, they care about you. They’re getting paid to care about you, but, but if something doesn’t feel right, and you feel like, you know, why is it that every time I bring up annuities, this person doesn’t believe in them, or they say, you know, the only thing an advisor cares about with an annuity is getting paid a big fat commission. Think again, because an advisor makes more money off of investing your money in the stock market than they do with an annuity or life insurance or anything along those lines. So, but what you should really be focused on is building a retirement that is going to be, you know, solid, even during uncertain times, even when the markets are volatile. You want to make sure that your retirement is not going to be built in a way that you’re going to have to go back to work. So go to RightTrackYourRetirement.com. Get a copy of my book. Schedule a time to come in and meet the team, and we can go over your situation and see if there’s a way that we can build a plan that gives you more security and peace of mind.
Steve 26:08
That sounds great. Brian, folks, it’s an opportunity to review your individual circumstances, no cost, no obligation. You’ll find out how much risk are you taking, red flags that could pop up down the line for you. How much are you paying in fees or commissions, it’s time you find out. How about tax liabilities, and, of course, a lifetime retirement income plan that includes maximizing that very important social security benefit. If you want to take advantage of this complimentary review, call us right now. It’s 800-656-8616, 800-656-8616. We are going to take one more quick break, come back and continue our conversation On the Money with Secure Money and Brian Quaranta
Brian Quaranta 26:45
Listeners have plenty of questions, and we’ve got some good answers coming back right after this with On the Money with Secure Money.
Announcer 27:00
We believe in better. A better way to invest, a better way to serve you, and a better result. We can help you determine how much risk you’re taking, red flags that could be potential problems for you, how much you’re paying in fees or commissions, potential tax liability, or even how to address social security. Call Brian Quaranta and his team at Secure Money Advisors at 800-656-8616 or text keyword: Brian Q to 800-656-8616 we’ve made it easy, folks. All you have to do is call or text the keyword: Brian Q to 800-656-8616.
Announcer 27:42
And now On the Money with Secure Money.
Steve 27:49
We’re back On the Money with Secure Money. Brian, Quaranta here. My name is Steve Sedall, Brian, of course, author of the book called Right Track Your Retirement. You can get your free copy by visiting RightTrackYourRetirement.com. I’d encourage you to do just that we have got. You’ve got so much on that website, too. Brian, in other words, you, you’ve got resources on there. You can meet the team. There’s just a wealth of information. And what- what impresses me about that is the fact that you’re constantly updating. It’s not like you set that, you know, set that website up in 2018 and haven’t looked at it since, yeah,
Brian Quaranta 28:19
yeah. Well, right, there’s people like that, yeah, there is, there is, there absolutely is. And you know what else is on the website, Is the library of all the On the Money television shows that we do.
Steve 28:29
Oh, that’s right. And you just, you keep doing those, you’re cranking those out.
Brian Quaranta 28:33
Yeah, I think we’re up to episode 180 or something like that.
Steve 28:36
Boy, well, you’re starting to get residuals now.
Brian Quaranta 28:43
I know, yeah, very true, but yeah, it’s important for us to keep the content fresh, because we do want to be a source of education for people. I think it’s very important that people are getting current, accurate information, and that’s why I believe in being out there in the public and educating people. And you know, I don’t claim, you know, to have all the answers that are perfect for everybody’s situation, but what we certainly do believe is that we have simplified retirement for people. And I think a simple retirement is a retirement that you’re confident with. And you know, there’s so much uncertainty going into retirement and through retirement that I wanted to add as much certainty back in sure, because the one thing that will make people feel uneasy and the thing that will steal people’s Joy wake up with anxiety is a level of uncertainty. And I just think that when you’re trying to build retirement around 100% risk investments, that’s a retirement that a lot of people can’t sleep well at night with. And so, but let’s get to some of these questions, because there’s some great questions today.
Steve 30:04
Jump in, first one. Here’s a retiree, 800,000 and a 401(k), and they want to create a steady income stream, but not sure if they should use an annuity, bond ladder, or systematic withdrawals. How should they evaluate each income option for stability and longevity? I like the question. They’re being real smart about this.
Brian Quaranta 30:23
I love this question, and I would tell you to use all three, okay, because you’ve heard of asset allocation, right? Yes. Well, in retirement, you have to think about income allocation. So, income allocation’s when we use different strategies for income. So, the way that I would build, this is I would use an annuity for the “I need” money, right? That’s food and shelter. So, I’ve got to make sure that I have this amount of money just to have the roof over my head and put food on the table. The I need money, pay the bills; and then you want the “I want” money, the traveling money, the money to do things with the grandkids or buy the fishing boat or join the country club, whatever it is. And so, you can use a bond ladder with some of your money. And you can also use systematic withdrawals. Systematic withdrawals are more utilized within a growth portfolio. So, if you think about it like this, let’s say somebody’s got a million dollars and they need $30,000 in additional income, okay, just for the I need money. All right. All right, sure. So, we could carve off $300,000 of the of the million, put 300,000 in the annuity that will generate roughly about $30,000 a year, depending on when they retire. And then the $700,000 that is left in the in the market, some of that money could be put into a bond ladder, all right, which would kick off additional interest in income. And then we can have some of the money in a good, diversified growth portfolio, kind of like the S&P500, maybe a little bit of NASDAQ peppered in. And so, when those markets are performing well, we can turn on a systematic withdrawal program to get even more money out than the I need money. So now your bond ladder and your systematic withdrawals become the icing on the cake, if you will, right? So, you’ve got the cake built with your social security and your annuity, and then the icing is your bond ladder and your systematic withdrawals. Now notice that I didn’t favor one strategy over the other. I’m using all of the income strategies to my advantage. What else I would do in here is I’d probably even pepper in some dividends to where I’ve got additional dividend income. And now, again, we’re thinking about asset allocation differently. We’re thinking about it in the terms of income allocation. And that’s how you build a stable retirement that’s going to last the rest of your life, that’s never going to put you in jeopardy of having to go back to work, that’s going to allow you to put your head on the pillow at night and sleep.
Steve 32:48
Well, sure, Brian, again, this is good. This is it last opportunity today for folks to call in, take advantage of the opportunity to sit down with you and map out the map out your retirement. The goal here at the show is to help you make the best decisions for you when it comes to retirement. So, if you do have questions about things we’ve been talking about today, how it applies in your own situation, now’s the time to call 800-656-8616, 800-656-8616 Brian, it’s always a pleasure, such a fast paced show, but great stuff all along.
Brian Quaranta 33:15
That’s right, folks, and we’ll see you again next week. And don’t forget, get my book Right Track Your Retirement. It’s a simple yet powerful guide to help you reduce risk and build income so you can have a retirement built around peace of mind. We’ll see you again next week.
Announcer 33:31
Investment Advisory services are offered through Foundations Investment Advisors, LLC, an SEC registered investment advisor. The content provided is intended for information on educational purposes only. The views, statements, and opinions expressed herein are those of the individual speakers and are not necessarily those of foundations and its affiliates. The information contained herein does not constitute an offer to sell any securities or represent an express or implied opinion or endorsement of any specific investment opportunity offering or issuer. Any discussion of performance or returns is not indicative of future results. Any discussions of specific strategies are for informational purposes only, and have been provided to help determine whether they may be appropriate for your specific situation. If applicable. The primary goal in converting retirement assets into a Roth IRA is to reduce the future tax liability on the distributions you take in retirement or on the distributions of your beneficiaries. Each individual investor situation is different, and any ideas provided may not be appropriate for your particular circumstances. Comments regarding a particular client’s experience may or may not be the same as another client’s experience and is not an indication that any client or prospective client will experience the same or a higher level of future success or performance. Foundations only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Registration as an investment advisor is not an endorsement of the firm by securities regulators and does not mean the advisor has achieved a specific level of skill or ability. Nothing here in constitutes a recommendation that any security portfolio of securities or investment strategy is suitable for any specific person, no legal or tax advice is provided. Please review your retirement tax and legacy planning strategies with a legal or tax professional before transacting or implementing any strategy discussed herein. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to investment advisory products, rates and. Guarantees provided by insurance products and annuities are subject to the financial strength of the issuing company, not guaranteed by any bank or the FDIC. This is not endorsed or affiliated with the Social Security Administration, any federal Medicare program, nor any US government agency. If applicable, we do not offer every plan in your area, and contacting us at the phone numbers provided herein will direct you to a licensed insurance agent. Any information we provide is limited to those plans we do offer in your area, please contact medicare.gov or 1-800-Medicare to get information on all of your options. All rights reserved.
Outro 35:27
Coach P Radio
