Mike Tyson said, “everyone has a plan ‘till they get punched in the mouth”. This is mostly true for every retiree. Whether it is a formal financial plan or rough math that lives in your consciousness or on a complicated excel spreadsheet, everyone has a loose plan for their retirement.
And I am sure most of your plan will work out great until it proverbially gets punched in the mouth by something that you didn’t quite plan for. The one thing in life that is guaranteed besides taxes and death is that life will never go according to plan.
In other words, your plan is destined to be punched in the mouth.
What you do after your plan goes awry is how you will achieve your retirement dream. Many people we talk to have been doing great with their investments over the last 10 years. Market returns for the last decade have been quite historic, averaging over 12% per year. What they might have anxiety about are the things that they aren’t accounting for that may disrupt their enjoyment of their retired years. What happens when there is a sustained down market and a third of your nest egg disappears off your statements? Do you have the right mindset to hold onto your investments, find appropriate times to rebalance, and adjust your income as needed?
Do you have the confidence to navigate your social security benefits so that you and your spouse receive the most benefit over your lifespan?
Are you able to create a tax-efficient distribution strategy for your investments so that you can reduce your tax liability and not be forced into a higher tax bracket later in retirement?
These are just a few of the questions we help our clients with so that they can truly enjoy the next stage of their lives without having to spend the time and energy to figure out on their own.
At Michael Brady & Co. we are retirement income and investment specialists that create comprehensive financial plans for our clients so that when life starts throwing punches, we are prepared with expert advice on how to defend.If you and your life savings are being ignored or feeling taken advantage of, come join our family. We are a family-owned financial planning and investment advisory firm who promise to treat you like family. No products. No hard sell. No gimmicks. Just honest advice based on four decades of experience.