Retirement Tips | IRA Rich and Cash Poor? Not Good in Retirement!
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
[Music] another no-brainer for those looking
to have a successful retirement now last week I gave you some insight on taking a simple
approach to investing using a 730 year old philosophical approach to keeping things simple
and not complicating Basics you should be doing leading up to or in retirement now you can visit
our website to look at that and a host of other great videos better yet you can subscribe below
and become the smartest person in the room when it comes to finances leading up to again or in
retirement now Ira rich and Cash 4 seems to be the starting point for most pre-retirees this
is what we see on a regular basis in our offices weekly now I know most of you watching will agree
with me on this fact and most likely you're in the same position I'll continue to hammer home these
two major points in this area one is for you to not put a dollar more into your company's 401K
then the company will match your mindset is I want to shock away as much as I can and I agree with
that however you're not thinking about as we say the road ahead it's taxes dummy ask yourself this
simple questions will taxes go up or down in the future let me help you up meaning in retirement
almost 40 percent of your 401k will be going to Uncle Sam in a lot of cases I want to see more
cash in your savings that has already been taxed I have countless families come in with a million
dollars in their Ira or tax deferred accounts and less than 50 000 in cash that's not good think
distribution instead of accumulation many will say this but Dave this forces me to save money because
I don't see it in my paycheck really how old are you after you cash that paycheck with those after
tax dollars have your advisors sweep those dollars to your investment account so you won't be tempted
believe me you will thank me later secondly once you have reached 59 and a half move that 401k as
soon as possible to your own IRA account now why because you can now have choices of Investments
that are unlimited where's your current 401K has a few and usually lousy choices but the most
important part of that is now you can protect that part of your nest egg from Major Market swings
leading up to retirement now for those of you who have left previous companies do not roll your old
401K into your new company's 401K no no no again you're shooting yourself in the foot no protection
and no choices you want to control your own destiny and not have some huge fund company making
decisions on your behalf who have no idea who you are and could care less what your future goals
are in our field of wealth and income management the investing side is the easy part dealing
with individuals that have preconceived ideas and biases towards less than Optimal Solutions is
usually where we have difficulty twisting arms for the do-it-yourselfers make these moves as soon as
possible and you'll be in a much better position to succeed when it comes to retirement cash is
King remember an after-tax dollars or tax free dollars are the best protecting those dollars
in fast-moving markets is just playing smart understanding the Simplicity of using options is
to do this is beneficial just plain responsible I always hear from the man how their major concern
is making sure the wife is set up if anything happens to them and it is the fact that the wives
outlive the husbands by an average of 12 to 15 years well if that's the case then protecting
these assets well into the future is just approved move creating income you cannot outlive is also a
no-brainer today there are great opportunities to continue to capture growth with protection and
create income for life now listen don't forget to subscribe below and visit our website let us
help you plan for the road ahead until next time
