EPISODE #011

PENSION CRISIS: THE FUTURE OF YOUR RETIREMENT

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Pension Crisis: Understand The Future of Your Retirement

In this pension crisis episode, John revisits the sources of retirement income. He highlights the trouble pension funds are currently in. He stresses the need to build retirement plans that are more resilient. Retirement plans ought to have protection, backups, and redundancies you can access when markets are not positive.

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

John’s strength is his ability and commitment to improve the level and quality of the financial planning process.

His dedication to his clients’ growth involves an evolving strategy. As a result, his focus is to meet the demands, desires, and needs of his clients in a changing economic environment.

In this don’t-miss episode, John warns that:

  • Pension plans for some of our country’s biggest companies (GE, Boeing, GM) are in deficit to the tune of tens of billions of dollars. But just a few years ago they were running surpluses.
  • In addition, Congress is preparing itself to potentially bail out as many as 200 multi-employer pension plans that are about to go insolvent.
  • Also, a recent study shows that a 10% or more decline in the stock market for an extended period of time (three to four months) would virtually blow up every single pension plan.
  • Lastly, 64 of our 75 biggest cities in the United States do not have enough money to pay their bills—that’s $335 billion in unfunded debt.

Above all, John explains how in a climate of more negative financial pressure you want to have a financial plan that has many layers of income to provide backup.

John calls this the “Lifeboat Drill.”

At Smallwood Wealth, we look at portfolios not only on a market volatility-adjusted basis, but also on a tax-adjusted basis. We always want to be focusing on how to reduce tax and how to reduce risk. This is how we can reduce the impact of volatility-adjusted returns.

Give us a call at 732-542-1565 or schedule a free 30-minute wealth conversation. We look forward to speaking with you.

 

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PENSION CRISIS: THE FUTURE OF YOUR RETIREMENT

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