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The Money Guys Philosophy
What most advisors fail to realize
The majority of financial advice you have received over your lifetime has focused on the accumulation of your retirement nest egg. Most advisors and people fail to realize that you have to position your investments such as your 401ks and IRA’s differently in order for them to work for the income years. At Everest Wealth Management we put preservation of capital and a reliable income stream during retirement paramount over the growth of your money. When you retire, you only get one chance and you don’t want to put that into an account that you have no control over or the ability to accurately forecast what its value will be in the future.
Most of us have been taught to “buy and hold blue chips”. This strategy for retirement income could be a disaster waiting to happen! Imagine if you held a portfolio such as this during the ‘Crash of 1987’; during the ‘Tech bubble of the Nineties’; or during the ‘2008 Financial Crisis’. Where would your income come from? Would you be able and willing to go back to work? How would you replace the loss of income and or loss of capital that you suffered through no fault of your own? This is where our philosophy differs from what you may be used to hearing. We ask one simple question of clients who want to hire our firm:
What percent of your retirement income do you want guaranteed?
Whatever that number is, together, we can come up with a plan that can show you a way to get there. This plan has many of the same pension plan benefits such as:
- Guaranteed* income for you and your spouse (100%)
- Income for life, regardless of current economic conditions
- Raises tied to inflation or the stock market
- Reliability of a check every month
During your working years this plan differs from most stock market investments, because your principle and gains are protected from losses. Most pension plans don’t pass on 100% of the income to a spouse, this can. Another great point is that the account balance left in this account can be passed on to children, grandchildren, or your nonprofits, something pensions typically don’t do.
We find that most retirees are more concerned with the return of their money, then on their money. Why not utilize a fixed annuity for the percent of your income that you want guaranteed? Then let us show you a way to retire and not be worried about the day to day changes that investors have little control over.
Sound different from what you have been hearing? Well that’s the Money Guys difference, and our philosophy. Sign up today for a free consultation to find out how you can set up your private pension plan.