5 Questions everybody should answer about their financial future!

Much like Jill has trained me to unload the dishwasher every morning, I have trained my very favorite, first wife to expect concrete answers to the following questions. When we discuss our financial future, this is what we talk about. Can you answer these questions about your financial future? How much income we need and expect: Do you have a retirement income projection showing the total amount of income you can expect to receive every year throughout your entire retirement, broken down into each individual income source? Does your retirement income analysis show when each income source starts, stops, increases, and decreases? How much tax we will pay: Do you have an income tax analysis showing how much income tax you will pay as you take income from your assets? You may believe that taxes are going higher in the future; have you accounted for that? How much money we will likely leave behind: Do you know how much money you can reasonably expect to leave to your beneficiaries after you’ve used your assets for income for your entire life? What steps we will take to make our plans work out: Do you have a written summary of your entire plan that includes the status of your current financial position, what you’re trying to achieve, and the step-by-step process of what’s required for success? How much market exposure we want / have? Do you have an understanding of how much market exposure you have and what would happen if the market lost a ton of value?

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Are your 401(k) costs going up?

As if things weren’t hard enough, this headline caught my eye the other day. As 401K Assets Fall, Investors Could Pay Higher Fees. Here’s some background: As part of the CARES act, 401(k) participants

Darryl Rosen MBA, RICP

Darryl Rosen is the founder of Rose Advisory Group, and operates www.RealRetirementAdvice.com as a way to help others create their ideal retirement. He is obsessed with helping people create safety, simplicity and strength in their financial future. Darryl’s clients enjoy his straight-forward, plain-spoken guidance, strategies to minimize taxes and ability to generate investment returns, while minimizing risk so his clients can sleep at night! Darryl is licensed to provide guidance on securities and insurance solutions and has achieved the highly desired Retirement Income Certified Professional (RICP) designation.

Darryl is the creator of the well-known SECURiMENT™ Retirement Planning Method. A simple to understand and implement planning method that demystifies retirement planning so that people can take action. Visit Rose Advisory Group to learn more! 

Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor.  BCM and (Rose Advisory Group) are independent of each other.   Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Information provided is not intended as tax or legal advice, and should not be relied on as such.  You are encouraged to seek tax or legal advice from an independent professional.