Tag: investment strategies in retirement
Step 1 of Retirement Success Plan: Investment and Portfolio Analysis
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
I'm giving you a choice of two Investments investment a and investment B both of them return 10 over the previous year which one would you rather have been invested [Music] oftentimes when I ask this question to a prospective client I'll get the response Troy it doesn't matter they both return 10 Give Me A or B but when it comes to retirement planning and this is why step one of the rrsp is so important the allocation meeting it's not about the return necessarily it's about how much risk did we have to take to get that return investment A and B both had a 10 percent return but this is just one outcome in an infinite set of possible outcomes remember these are two distinct Investments with different characteristics possibly different purposes so even though they return the same the question is how much risk did we take to earn this return are we being compensated enough from a reward standpoint based on the risk that we're taking so with a high degree of statistical confidence we could analyze and say investment a had a likely downside scenario of somewhere between five to fifteen percent if a different set of outcomes or circumstances occurred that's the risk profile but invest B had a possible downside of negative 20 to negative 40 percent now with that new bit of information which investment would you choose investment a or investment B all individual Investments or combination of Investments could be plotted somewhere along this chart this is what we call the efficient Frontier over here we have the return the expected return and over here we have the risk that we're taking so ideally we have Investments that are more to the left which represents lower risk and higher up the y-axis which represents higher return so if you own five different stocks that portfolio in and of itself could be plotted somewhere on this graph if you have one security let's say you're fully invested in your company stock you could plot it right here on this graph now if you have 20 or 30 or 50 different mutual funds or ETFs or individual stocks once again that set of Investments can be plotted somewhere on this graph so when we plot investment a and investment B on the graph here we can clearly see that they have a similar return profile but investment a has less risk so this makes it easier to identify as an investment that we would rather place our dollars now down here I have investment C could be a portfolio of stocks this could be maybe if you have a lot of money invested in your company stock but we clearly see that we're taking more risk without being rewarded for that risk that we're taking another way to think about this is think of your skills and the capability that you have in your current job or in your former job if you're if you're retired would you take a salary that was much much lower than Market in order to do that same job with those same responsibilities no you probably would not I know you would not that's what we're doing here with investment C essentially we are taking risk or taking on responsibilities in that example while not being compensated for it okay so think of these letters investment a investment being investment C this was the one we wanted to be in this is the one that we took a little bit more risk for the same return and over here we just don't want to be in I want to liken this to GPA grade point average because we're all pretty familiar with that either you from your schooling experience you have kids or grandkids an a investment or set of Investments kind of I put a in air quotes here that's the GPA so what we want to do with your portfolio in retirement is increase its GPA we want to reduce risk and increase expected return now that you have a good understanding of risk and return and how every set of Investments can be placed somewhere on that graph it's now important to tie that into retirement planning so the allocation determines how much income you can take how much money will be left later in life it determines how much tax you'll pay in retirement it can also impact your health care strategy or long-term care strategy and it definitely impacts your overall estate plan so those are the five steps of the RSP and this is why the allocation is so critical it's step one because it impacts everything else when you reach out to us for the first time all we do on that first visit is get to understand who you are and what's important to you we're going to gather some of the objective data under of course understand what your vision is for retirement your goals but the objective data is the current portfolio the financial statements the tax information how much we want to spend in retirement in between that first and the second visit we're going to go through an analysis to see where your portfolio falls on that Spectrum in order to understand if there's congruence between your willingness to take risk for the expected return that your portfolio can provide and where you currently are we first have to identify what is that willingness that you have to take on risk so we have to first understand your willingness to take risk so this is a pretty simple questionnaire here simply saying over the next six months you're comfortable risking this in order to make this potential return now this is what we call a symmetrical risk return profile we're essentially risking one dollar to earn one dollar but really what we're trying to identify here is what is your comfort zone on the downside because what we're going to try to do is create a portfolio that has an asymmetrical risk return profile so less risk to achieve more potential return so are you comfortable losing seven percent over the next six months in a recession or are you fine to let it stay invested and you believe long-term capital markets are going to do just fine so you're more comfortable in the short term possibly a 13 loss there's no right or wrong answer here but everyone's personal willingness to take risk is different so we have to identify that because if you have a portfolio that has too much risk that is the one thing that will absolutely be certain to blow up a long-term retirement plan if the market goes down you call us up panicking and say Troy I need to get out of the market I can't take it anymore well you most likely won't be in there for the rebound and all the planning that we've done up to that point can be significantly impacted because we were expecting the risk profile based on the conversations that we had to be structured properly and if it's not and the markets go down then we get out well all of a sudden everything is completely messed up so this is why your risk willingness is such an important concept because if we're putting a plan together we need to know that you're going to stick with it because markets will go down one other thing to point out here I like to focus on the dollar amount because percentages can be deceiving I had a client a long time ago or a prospective client come in and say Troy I'm comfortable losing about 10 percent he had two million dollars so I said okay if the market goes down and you lose 200 000 you're okay with that he said no I fire you instantly so there was a disconnect between the 10 percent and the two hundred thousand dollars so I like to talk about risk in terms of dollars because percentages seem just they don't really drill down into our willingness to take risk whereas if we focus on the dollar amount that hits home okay so this would be coming back on a second visit and we're looking at your actual portfolio and this is very similar to what we see someone maybe told us that they're they're comfortable let's say with about 50 stock but when we do the analysis what we often find is that there's more risk inside the portfolio but on top of there being more risk oftentimes it's not the most efficiently structured so we see down here we actually have bringing the GPA back a 3.1 so this means that it's not the most efficient from a risk-adjusted return standpoint means we're we're not where we want to be on that graph an annual range 3.42 so for taking this much risk we don't want to be rewarded with an annual range midpoint here of only 3.42 percent over the next six months now we also see with the potential risk and reward over the next six months there's a 95 percent probability that this portfolio to the downside could lose 16 percent over a six-month period and the upside is plus 19 so these are very very wide guard rails okay if we extrapolate that out over the course of one year we have a negative 32 percent and a plus 38 so most of our clients aren't comfortable losing potentially 38 percent in a single year so for this level of risk based on the questionnaire that we asked earlier and they come in around a 50 risk score this is not only too much risk inside the portfolio but it's really poorly constructed from an analytical standpoint and the guardrails are far too wide we're not being compensated for the risk that we're taking and that's what this GPA right here is telling us that's the analysis that we go through between the first and the second visit and that's often what we see it's not efficiently structured the portfolio possibly too much risk and oftentimes that GPA is a lower number meaning we're not being compensated with enough expected return for the risk that we're taking so in between that first and the second visit that's what our team is doing looking at your particular situation now once you become a client and we go through that allocation visit this is step one of the RSP what we're trying to do is to create a proposed portfolio that brings first and foremost the risk number in line with that questionnaire that we asked you before we're also trying to create some asymmetry in regards to the risk that we're taking in the expected Return of the set of Investments that we've put together so now what we've done is we've lowered the overall risk score of the portfolio to be more in line with the questions that we were asking in regards to that that slider that we had on the screen if you're not comfortable with potentially losing 19 percent in a six-month period we need to bring the risk score down in the portfolio so that's the first thing that we're trying to do the second thing is we're trying to create asymmetry here so you see this we're risking nine for the potential of 15.
This is over a six month period so we extrapolate that out over 12 months it's minus 18 for plus 30. that's asymmetry when it comes to the risk return profile additionally we've increased the GPA of the portfolio so the maximum according to the software is a 4.3 so this means we're being properly compensated for the risk that we're taking the expected return is the proper compensation for that risk now anything can happen Marcus can go up or down but what we've done is we've created an efficient portfolio that when markets are up or when markets are down our potential returns are in line with our willingness to take risks but also when we've tied this into your income plan tax plan and the rest of the RSP it's all creating a much more congruent financial planning experience also the expense ratio over here I don't know if you noticed before but we had an expense ratio in the mutual funds and that current portfolio in the proposed portfolio we've eliminated those fees so in summary here during the first visit we get to know where your willingness to take risk is in between the first and the second visit we're going through and doing an analysis of your current portfolio identifying the risk score see if there's any disconnect between your willingness to take risk in the actual risk inside your portfolio but then also looking at the potential return what is the GPA what is the expected return what is the Symmetry between these two once you become a client and we go through the allocation meeting here's where we look at the proposed portfolio where we get the risk number of the portfolio in a line with an alignment with your willingness to take risks try to increase the asymmetry between the risk and the potential return increase the GPA of the portfolio and increase the expected return now all of this is a shortened version of what the actual allocation visit looks like but it hopefully conveys how important this step is because it not only determines the amount of risk or the potential downside you could see to your values in retirement it also of course contributes to the potential return which then dominoes into your income for retirement the taxes the health care plan and also the estate strategy so step one allocation extremely critical when it comes to the retirement success plan this is why we do it first [Music] thank you
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Step 1 of Retirement Success Plan: Investment and Portfolio Analysis
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
I'm giving you a choice of two Investments investment a and investment B both of them return 10 over the previous year which one would you rather have been invested [Music] oftentimes when I ask this question to a prospective client I'll get the response Troy it doesn't matter they both return 10 Give Me A or B but when it comes to retirement planning and this is why step one of the rrsp is so important the allocation meeting it's not about the return necessarily it's about how much risk did we have to take to get that return investment A and B both had a 10 percent return but this is just one outcome in an infinite set of possible outcomes remember these are two distinct Investments with different characteristics possibly different purposes so even though they return the same the question is how much risk did we take to earn this return are we being compensated enough from a reward standpoint based on the risk that we're taking so with a high degree of statistical confidence we could analyze and say investment a had a likely downside scenario of somewhere between five to fifteen percent if a different set of outcomes or circumstances occurred that's the risk profile but invest B had a possible downside of negative 20 to negative 40 percent now with that new bit of information which investment would you choose investment a or investment B all individual Investments or combination of Investments could be plotted somewhere along this chart this is what we call the efficient Frontier over here we have the return the expected return and over here we have the risk that we're taking so ideally we have Investments that are more to the left which represents lower risk and higher up the y-axis which represents higher return so if you own five different stocks that portfolio in and of itself could be plotted somewhere on this graph if you have one security let's say you're fully invested in your company stock you could plot it right here on this graph now if you have 20 or 30 or 50 different mutual funds or ETFs or individual stocks once again that set of Investments can be plotted somewhere on this graph so when we plot investment a and investment B on the graph here we can clearly see that they have a similar return profile but investment a has less risk so this makes it easier to identify as an investment that we would rather place our dollars now down here I have investment C could be a portfolio of stocks this could be maybe if you have a lot of money invested in your company stock but we clearly see that we're taking more risk without being rewarded for that risk that we're taking another way to think about this is think of your skills and the capability that you have in your current job or in your former job if you're if you're retired would you take a salary that was much much lower than Market in order to do that same job with those same responsibilities no you probably would not I know you would not that's what we're doing here with investment C essentially we are taking risk or taking on responsibilities in that example while not being compensated for it okay so think of these letters investment a investment being investment C this was the one we wanted to be in this is the one that we took a little bit more risk for the same return and over here we just don't want to be in I want to liken this to GPA grade point average because we're all pretty familiar with that either you from your schooling experience you have kids or grandkids an a investment or set of Investments kind of I put a in air quotes here that's the GPA so what we want to do with your portfolio in retirement is increase its GPA we want to reduce risk and increase expected return now that you have a good understanding of risk and return and how every set of Investments can be placed somewhere on that graph it's now important to tie that into retirement planning so the allocation determines how much income you can take how much money will be left later in life it determines how much tax you'll pay in retirement it can also impact your health care strategy or long-term care strategy and it definitely impacts your overall estate plan so those are the five steps of the RSP and this is why the allocation is so critical it's step one because it impacts everything else when you reach out to us for the first time all we do on that first visit is get to understand who you are and what's important to you we're going to gather some of the objective data under of course understand what your vision is for retirement your goals but the objective data is the current portfolio the financial statements the tax information how much we want to spend in retirement in between that first and the second visit we're going to go through an analysis to see where your portfolio falls on that Spectrum in order to understand if there's congruence between your willingness to take risk for the expected return that your portfolio can provide and where you currently are we first have to identify what is that willingness that you have to take on risk so we have to first understand your willingness to take risk so this is a pretty simple questionnaire here simply saying over the next six months you're comfortable risking this in order to make this potential return now this is what we call a symmetrical risk return profile we're essentially risking one dollar to earn one dollar but really what we're trying to identify here is what is your comfort zone on the downside because what we're going to try to do is create a portfolio that has an asymmetrical risk return profile so less risk to achieve more potential return so are you comfortable losing seven percent over the next six months in a recession or are you fine to let it stay invested and you believe long-term capital markets are going to do just fine so you're more comfortable in the short term possibly a 13 loss there's no right or wrong answer here but everyone's personal willingness to take risk is different so we have to identify that because if you have a portfolio that has too much risk that is the one thing that will absolutely be certain to blow up a long-term retirement plan if the market goes down you call us up panicking and say Troy I need to get out of the market I can't take it anymore well you most likely won't be in there for the rebound and all the planning that we've done up to that point can be significantly impacted because we were expecting the risk profile based on the conversations that we had to be structured properly and if it's not and the markets go down then we get out well all of a sudden everything is completely messed up so this is why your risk willingness is such an important concept because if we're putting a plan together we need to know that you're going to stick with it because markets will go down one other thing to point out here I like to focus on the dollar amount because percentages can be deceiving I had a client a long time ago or a prospective client come in and say Troy I'm comfortable losing about 10 percent he had two million dollars so I said okay if the market goes down and you lose 200 000 you're okay with that he said no I fire you instantly so there was a disconnect between the 10 percent and the two hundred thousand dollars so I like to talk about risk in terms of dollars because percentages seem just they don't really drill down into our willingness to take risk whereas if we focus on the dollar amount that hits home okay so this would be coming back on a second visit and we're looking at your actual portfolio and this is very similar to what we see someone maybe told us that they're they're comfortable let's say with about 50 stock but when we do the analysis what we often find is that there's more risk inside the portfolio but on top of there being more risk oftentimes it's not the most efficiently structured so we see down here we actually have bringing the GPA back a 3.1 so this means that it's not the most efficient from a risk-adjusted return standpoint means we're we're not where we want to be on that graph an annual range 3.42 so for taking this much risk we don't want to be rewarded with an annual range midpoint here of only 3.42 percent over the next six months now we also see with the potential risk and reward over the next six months there's a 95 percent probability that this portfolio to the downside could lose 16 percent over a six-month period and the upside is plus 19 so these are very very wide guard rails okay if we extrapolate that out over the course of one year we have a negative 32 percent and a plus 38 so most of our clients aren't comfortable losing potentially 38 percent in a single year so for this level of risk based on the questionnaire that we asked earlier and they come in around a 50 risk score this is not only too much risk inside the portfolio but it's really poorly constructed from an analytical standpoint and the guardrails are far too wide we're not being compensated for the risk that we're taking and that's what this GPA right here is telling us that's the analysis that we go through between the first and the second visit and that's often what we see it's not efficiently structured the portfolio possibly too much risk and oftentimes that GPA is a lower number meaning we're not being compensated with enough expected return for the risk that we're taking so in between that first and the second visit that's what our team is doing looking at your particular situation now once you become a client and we go through that allocation visit this is step one of the RSP what we're trying to do is to create a proposed portfolio that brings first and foremost the risk number in line with that questionnaire that we asked you before we're also trying to create some asymmetry in regards to the risk that we're taking in the expected Return of the set of Investments that we've put together so now what we've done is we've lowered the overall risk score of the portfolio to be more in line with the questions that we were asking in regards to that that slider that we had on the screen if you're not comfortable with potentially losing 19 percent in a six-month period we need to bring the risk score down in the portfolio so that's the first thing that we're trying to do the second thing is we're trying to create asymmetry here so you see this we're risking nine for the potential of 15.
This is over a six month period so we extrapolate that out over 12 months it's minus 18 for plus 30. that's asymmetry when it comes to the risk return profile additionally we've increased the GPA of the portfolio so the maximum according to the software is a 4.3 so this means we're being properly compensated for the risk that we're taking the expected return is the proper compensation for that risk now anything can happen Marcus can go up or down but what we've done is we've created an efficient portfolio that when markets are up or when markets are down our potential returns are in line with our willingness to take risks but also when we've tied this into your income plan tax plan and the rest of the RSP it's all creating a much more congruent financial planning experience also the expense ratio over here I don't know if you noticed before but we had an expense ratio in the mutual funds and that current portfolio in the proposed portfolio we've eliminated those fees so in summary here during the first visit we get to know where your willingness to take risk is in between the first and the second visit we're going through and doing an analysis of your current portfolio identifying the risk score see if there's any disconnect between your willingness to take risk in the actual risk inside your portfolio but then also looking at the potential return what is the GPA what is the expected return what is the Symmetry between these two once you become a client and we go through the allocation meeting here's where we look at the proposed portfolio where we get the risk number of the portfolio in a line with an alignment with your willingness to take risks try to increase the asymmetry between the risk and the potential return increase the GPA of the portfolio and increase the expected return now all of this is a shortened version of what the actual allocation visit looks like but it hopefully conveys how important this step is because it not only determines the amount of risk or the potential downside you could see to your values in retirement it also of course contributes to the potential return which then dominoes into your income for retirement the taxes the health care plan and also the estate strategy so step one allocation extremely critical when it comes to the retirement success plan this is why we do it first [Music] thank you
Read MoreFive Important Steps to Planning a Secure Retirement
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
my grandparents marketed their home in business for a pair million dollars they were extremely straightforward people didn'' t have a load of financial savings prior to this but within five weeks of retirement my grandfather had two aortic aneurysms the next couple of years went to healthcare costs long-lasting treatment costs a decline in economic conditions triggered a few of the high rate of interest rate paying cars that they were counting on to go down the rates of interest so their revenue was greater than cut in half this experience led me to become a retirement coordinator someone concentrated on financial suggesting however with the specialty in the retirement Field I'' ve sat with thousands and thousands of family members throughout my profession which experience integrated with what occurred to my grandparents caused the production of what we call the retirement success strategy here at Oak Harvest Financial Team foreign success plan or RSP as we call it is an organized procedure that leads to a last retirement strategy that'' s personalized to your certain retirement requirements and worries it covers 5 essential areas which we'' re going to obtain into in today ' s video of what ' s vital to be successful in our point of view when it concerns retired life planning it'' s built by a group of consultants that you contend your disposal as well as operates in conjunction with the financial investment approach by your in-house investment team here at Oak Harvest Financial Team what this implies for you is that you have actually marked off the essential boxes that we'' ve discovered over our years of experience are most essential to retirement success and it'' s likewise a timeline for execution as well as a method to monitor progression so we can make modifications in actual time to ensure you'' re staying on the right track for your retired life one of the large Ideas to understand regarding retirement planning is that every solitary choice you make is adjoined when you take Social Security exactly how much you spend in retirement from which accounts you take out from all of these influence your account balances every one of these effect how much time your cash will last and also just how much revenue you'' ll need to invest these are the large inquiries that we have in retired life do I have enough for how long will certainly my cash last if something happens to me will my family members be fine how do I pay less tax every one of these points are adjoined so a great deal of times we see people come in for the very first time and they'' re one year two year three years right into retirement and also points are going swell as well as they feel like they'' re okay and also a great deal of the moments that is true but what'' s taking place is they ' re setting down a specific course every choice that you make sets you on a particular trajectory usually in the first pair years of retirement we wear'' t have adequate visibility into exactly how the choices we'' re making today are impacting the trajectory of our anticipated account equilibriums things often can feel like they'' re working out but we don'' t have that exposure to fairly see hey am I on the right path or might I be making better decisions that puts me onto a better trajectory let me reveal you what I mean international so we see below this is a plan as it currently stands is at 81 percent probability of success now 81 isn'' t a bad number can it be improved probably however we see in the starting years right here 2023 via 2025 all of these trajectories and we see the diffusion below they'' re all very carefully concentrated with each other so the very first two 3 4 5 years of retirement we do not understand which one that we'' re on as well as that can lead us right into a feeling of complacency or a false feeling of safety that states hey you understand what I'' m doing excellent I'' m doing wonderful I ' m on the appropriate path since I ' m 3 years right into retired life as well as I still have about the very same money that I started with well as you can see several of these paths eventually deviate into the red which is not excellent that implies you'' re lacking cash or you'' ve run out of cash and also others diverge right into a far more comfy and protected range right here we see 2.5 million 1.9 million 4.7 million these are all various possible paths that the choices you'' re making today and over the next numerous years might potentially put you on the purpose of the retired life success plan is to one determine that you are what'' s important to you and also how do we establish what success implies for you then we have a structure procedure that'' s based on your financial investment allowance creating earnings lowering taxes looking out for health and wellness care and afterwards estate intending the retirement success plan isn'' t simply a first plan that established it and neglect it it ' s a timeline for implementation of the crucial elements and also a procedure to continue to Monitor as well as make adjustments on the fly when essential as long as we have visibility into exactly how the choices we'' re making today are affecting our future protection what we find is you have a tendency to live a much more comfortable retired life which implies Comfort around the degree of revenue that you'' re receiving and just how much you'' re spending and also what we'' re doing from a tax viewpoint to make sure you wear'' t carry a load of risk and possibly pay way too much tax obligation down the roadway there are 5 crucial locations we really feel are necessary to have a strategy for leading right into retired life at retirement as well as after that post retired life that we remain to Screen and also change as needed display going into is an exceptionally essential part of the retirement success plan because once again we don'' t actually recognize where we ' re at on this trajectory in years one 2 three 4 or 5 it'' s concerning a partnership a partnership moving on that permits us to have presence into just how the choices we'' re production are affecting our trajectory as well as additionally allow us to change in real time when scenarios require now outside events like the supply market collapsing or the economic climate going right into the tank or inner decisions such as how much we'' re investing or if we intend to get that villa or perhaps we want a present to the children or grandkids these are all decisions that influence their trajectory that we'' re on so having that relationship and having that exposure is what enables us to be tranquil as well as recognize hey we can'do this or we can ' t do this or these are the parameters that we should operate in to see to it that we proceed on the course that we we really feel comfortable with step one of the rrsp is what we call the allowance this is an extremely vital action due to the fact that after we'' ve learned who you are just how you specify retirement success and also what your goal Czar we make a suggestion of just how you ought to spread your cash across different asset courses so assume stocks as well as other low-risk Stocks one means to think of the appropriation and why it'' s so vital is if you think concerning active ingredients in a recipe so if you have too much sugar or possibly too much salt you'' re not mosting likely to have something that'' s tasty that you neither any individual else really desires to consume but with the allowance in your retirement we'' re not discussing a negative pot roast that you can simply remodel you have lots of time possibly next weekend break we'' re speaking about your retirement and also with the wrong ingredients or the incorrect allocation you can perhaps run out of cash maybe you have to go back to work maybe you wear'' t have enough cash to aid spend for healthcare expenses for you or your spouse possibly there ' s not sufficient to take treatment of your surviving partner so this is a very crucial action in the process which'' s why it ' s step one the structure that we use to develop your allocation is what we call the core four so we have the Comfort pillar we have several streams of earnings we have the growth pillar as well as then we have the protection or alternative column some of our clients have money spread throughout every one of the core for and also for other customers it makes sense to simply have two or possibly 3 items of the core four however that'' s the framework that we utilize based on your objectives and your circumstances to construct out the appropriation for your retired life action two of the RSP is the earnings planning process so we intend to see multiple streams of income in retirement we'' d like to live off passion as high as feasible not get involved in that principle yet we also want to understand where our earnings is originating from is it coming from the retired life accounts is it coming from the non-retirement accounts because in retired life where you withdraw your income from figures out just how much tax you pay and additionally rather of having simply a static 4 percent guideline we wish to have a more Dynamic plan a strategy that adjusts our earnings either up or down based upon their trajectory of our strategy action three of the RSP is tax preparation so tax planning is an incredibly essential part of this general process but the reason it'' s step 3 is because if we don ' t recognize what the appropriation is or just how much income we'' re obtaining as well as when we'' re getting that revenue we can'' t potentially do a tax evaluation rather of informing you to go see your CPA to develop a tax obligation approach we develop that in-house as component of your tailored RSP here at Oak Harvest Financial Team now the factor we do that is since our company believe to genuinely be a fiduciary and also provide referrals and also guidance in your best rate of interest you need to check out tax obligations and the influence tax obligations have on the amount of income you in fact reach keep so a tax plan is an extremely critical part of the retirement success strategy step 4 of the process is Health and wellness Treatment intending so this is one location where my grandparents and their consultants stopped working to get the task done as well as this costs them well over a half a million dollars within the very first couple of years of retired life I put on'' t want that to happen to you so we'' ve constructed that in to the RSP if you retire prior to 65 we have to determine health insurance much of you have concerns about end of life treatment or later on in life care is long-term care a suitable remedy for you exactly how do we not have premiums that proceed to go up throughout retired life addressing the prospective prices of Health Care in retired life is an essential action since one blunder below can cause every little thing else to explode action 5 of the RSP is the estate planning side now a big mistake that we see clients make all the time is they go to their lawyer they obtain the estate files and after that they never ever inform us so what we'' ve done is we ' ve built this estate preparation right into the financial process so primarily your financial coordinator need to be the quarterback of this overall estate preparation procedure this method possessions that need to obtain retitled to either enter into trust fund or other entities we make certain that obtains done beneficiaries that need to be changed we make certain that obtains done but additionally having a discussion with you regarding the disposition of your estate we wear'' t desire your cash going to your children and afterwards fifty percent of that mosting likely to your youngsters'' s future ex-spouse so there'' s a great deal of facets Beyond just having a will certainly maybe a living trust fund and your medical regulations that we need to address and we construct that into the RSP those are the five steps of our retired life success plan that we tailor for you not only are these workable items that we feel can improve your general retirement giving much better satisfaction more visibility right into the future or openness as well as Quality around some of the things that are necessary in retirement it'' s also a timeline for execution of these certain items it'' s additionally a framework in a framework that allows us to continue to check your retired life to ensure that your strategy gets on the appropriate trajectory and also that you have an effective retirement we'' re always creating even more content to assist you go more comprehensive with retirement success strategy and also the general procedure to proceed that Trip you'' ll desire to click right below to find out even more about what the RSP implies for you and your family members [Music]
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