There are so many stories about entertainers, athletes, and lottery winners who have all lost their fortunes and ended up bankrupt. Each one of these people lost millions of dollars, and in many cases, enough money to last an average family for generations. When these stories come to light, people often make comments about how that would never happen to them, and that may be true. However, these stories do give us something to think about. Your retirement is very similar to winning the lottery. Once you stop working, you’ll likely be entering retirement with a large sum of money, sort of like winning the lottery. So, make certain that you know how long it will last and if it will be enough for you to comfortably enjoy your dream life in retirement.
It’s important to note that there are some common threads between many of the lottery winners that went bankrupt, and one of them is that they all suddenly came into large fortunes. Whether they were a struggling actor who got their big break or a lottery winner, their financial worlds changed overnight. They found themselves instantly wealthy but were ill-prepared for the responsibilities and decisions that come with it.
Imagine how differently their stories might have turned out if they had more financial discipline and the guidance of a qualified and trusted financial professional. So, why are we discussing this? The day you retire, you may have the most amount of money you have ever had at your disposal – it’s sort of like winning the lottery, except it’s a fortune accumulated over a lifetime of hard work instead of one moment of luck. This makes it even more valuable. So, do you have a solid plan in place and know how much you can safely spend each year? Do you have the right team in place to help guide you and help you avoid dangerous situations?
If you’re not completely sure about those questions, then it might be time we talk. If you want to be confident in your ability to live your life without running out of money, then don’t wait to sit down with us one-on-one. We help people prepare for retirement with our comprehensive planning process. We’ll cover all aspects of your retirement and help you plan for the years to come. It all starts by scheduling a complimentary financial review where we can review your current financial situation and discuss some of the available planning options that may work best for you.
Our mission is to help you plan for a meaningful retirement where you can achieve your goals without taking unnecessary risks. Your retirement should be what you want it to be, and it’s great to celebrate your retirement; just make sure you have a solid plan in place and the right team by your side to avoid the mistakes of managing your own big fortune.
We do not provide tax or legal advice, all individuals are encouraged to seek guidance from qualified professionals regarding their personal situation. Any references to protection benefits or steady and reliable income streams in this guide refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by insurance company. Annuities are not FDIC insured. Indices mentioned are unmanaged and cannot be invested into directly.
