Navigating Financial Pressure with Jeffrey Clark

In this episode, John and his partner Edward Bao, CFP®, AIF®, talk with Jeffrey R. Clark, Director of Retirement and Wealth Strategies at Jackson National Life about wealth accumulation, “safe” withdrawal rates, and how to provide yourself with a paycheck for life.

John is the author of 5 Ways Your Wealth is Under Attack and It’s Your Wealth – Keep It.” He has lectured extensively on financial planning and is a recipient of the Five StarSM Wealth Manager Award.

Don’t miss these important takeaways:

• With less than 4% of businesses sponsoring a traditional pension plan, and many more freezing their pension payouts, it’s more important than ever to create income streams for yourself that will take the place of a pension.
• You will need to invest for growth in order to replace pension income.
• Annuities are important tools you can use to create lifetime income.
• When setting up your paycheck for life, there are two variables to consider: (1) How long will you live, and (2) What kind of interest rate and market performance can you expect? The first variable is much more volatile than the second!

And more!

• The new “safe” withdrawal rate is 3%, based on current capital market assumptions. If you want to withdraw more, you will have to invest more money, more aggressively.
• People who are well prepared for retirement live longer and more happily.
• Turn failure into success by managing your expectations, investing thoughtfully, and by replacing pensions and Social Security to cover the basics of life that will get you through whatever comes.

For more, listen here. Then download our 19 Sources of Retirement Income and find out how to increase your retirement income. You’ll also find other great resources on our website such as my book, 5 Ways Your Wealth is Under Attack. You can also preorder my new book, It’s Your Wealth, Keep It. If you are new to Smallwood Wealth, schedule a Wealth Curve Conversation by clicking this link.

You can also connect with us on social media, or call us at (800) 797-1000. Set up a free, no-obligation 30-minute phone call with a qualified advisor to discuss how to set up your retirement plan.

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