A recent survey showed how little the typical American knows about retiring within their means. It was frightening to me. The survey showed that the average person believes that they can safely withdraw 10% per year and still retire safely and comfortably. How Wrong Could they Be!
Very Wrong!
A reasonable rule of thumb passed around the financial industry is that 4% is safe. Even that is sometimes dangerous. In periods of high inflation like 2008 and in periods of market turmoil like 2008 even 4% may be too much with a typical asset allocation strategy. Is there a trend here? Is 2008 turning into The Perfect Fiscal Storm? This is a play on words related to the Warner Brothers movie The Perfect storm released in 2000. the movie starred George Clooney and Mark Wahlberg and deals with the synergistic impact of two storms colliding and turning into "The Perfect Storm" a real monster.
What can you do about it?
We have products available that help you create a lifetime income stream that you or you and your spouse cannot outlive. In effect we can help you turn some portion of your assets into a personal pension. Sound interesting?
How can we help you? Contact us for a no charge initial consultation.
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