EPISODE #024

GAME-CHANGING VARIABLES IN YOUR RETIREMENT PLAN P2

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2018 Business Owner's Guide

TAX GUIDE

Leverage the latest tax law changes to increase wealth.

Market Volatility, Healthcare Costs, & Long-term Costs

In this episode, John continues his deep examination of the variables that are essential to your retirement plan, and urges you to re-examine your plan now and on an annual basis. Today he focuses on market volatility, which is a factor in your withdrawal rate (covered in Part 1). He also spends time on the variables associated with longevity risk (also covered in Part 1): healthcare costs and long-term care costs.

John is the author of 5 Ways Your Wealth is Under Attack. He has lectured extensively on financial planning and has received the Five StarSM Wealth Manager Award for 2011, 2012, 2013, 2014, 2015 and 2016.

John’s strength lies in his ability and commitment to continually improve the level and quality of the financial planning process. His dedication to his clients’ growth involves an evolving strategy that strives to meet the demands, desires, and needs of his clients in a continually changing economic environment.

John’s main points are:

  • There are several risks putting pressure on your financial plan: market volatility, inflation risk, tax law risk, geopolitical risk, increase in personal expenditures, and state and local risk such as underfunded pension plans in your community or increased real estate taxes.
  • Most financial planning software gives you a simulation of your financial plan over time that assumes a steady rate of return. But market volatility and your unique situation (your investment mix, your withdrawal timing) mean that you will be subject to a sequence of returns unique to you.
  • Along with that, past market performance has nothing to do with future performance.
  • A recent assessment of health care costs in retirement show that an average couple will pay $400,000 in non-reimbursed healthcare costs during retirement.
  • Factoring in average life spans, that’s $20,000 per year per person. How will your retirement income cover that cost?
  • The average stay in a long-term care facility is 2 ½ to 3 years, with monthly costs going upwards of $10,000.

How secure and how safe is your current retirement plan? What triggers are in your financial strategy? Your financial plan is never done. You need to constantly evaluate it, based on what is happening in your life right now, and the financial pressures that you know are coming.

Start by downloading our Wealth Curve Pressure Identifier. Let’s pinpoint the things you love about your plan. Let’s identify what keeps you up at night, or what you’d want to change about it. And let’s begin a strategy with the four or five most important 90-day actions to help reduce the risks to which your plan is subject. Make an appointment here or by calling 732-542-1565.


Are you ready to increase your profit growth by 25%? John will show you how in the 2018 Business Owner’s Guide To Maximizing Your Benefits From The 2018 Tax Cuts.

Click here to get your complimentary copy.

2018 Small Business Guide To Maximizing Tax Cuts

 

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