Excel in Retirement

Over the weekend I read an article from advisor David Nicholas, and in the article, he described the power of hedging. The idea behind this concept is that as your portfolio gains interest, you begin taking some of the gains off the table. You then invest those gains in things that are hedged from losses.

Here’s an example of how this works. Forbes states that the S&P 500 gained 26.9% in 2021. Clearly, a great year for the market. If you had a portfolio of one million dollars, that’s a gain of $269,000. You now have $1,269,000.

In our hypothetical example, if the market corrected, 40% this year, your $1,269,000 would turn into $761,400. In Nicolas’ article, he writes, “'Don’t worry, the market always comes back.' If you haven’t heard this comment yet -- from a well-meaning friend or co-worker, or maybe a concerned financial professional -- you almost surely will. We’re all hoping for the best but bracing for the worst as the market continues to react to political and economic uncertainty. Your friends and colleagues aren’t wrong. Historically, the stock market always has come back, and investing in stocks has been a good way to grow retirement savings over the long term.

Of course, historical data doesn’t offer much comfort when the loss is personal, especially for investors who are in or approaching retirement and don’t have a lot of time to recover from this latest bear market. Waiting for the market to come back may not sound like much of a solution if you are retired or you’re planning to retire in the next few years and are depending on those assets for income.”

Back to your $761,400 you were left with. If the market went up 26.9% next year like it did in 2021, you’d have $966,216. If we have 25 or 30 years until we need our money to create retirement paychecks this may not be problematic. If we’re in retirement or within ten years of retirement market corrections may become more meaningful.

A possible solution may be to use hedges or remove some of your gains and place them in financial vehicles that can predictably create retirement income. If our only tool we are using in our portfolio is equities, we can’t build a financial house that’s going to  shield us from economic storms. Imagine only using a hammer to build a house.  If you'd like to discuss this more or have a question, call our office at 864.641.7955.  

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

Many of us are seeing these shocking inflationary prices in our everyday life, and the government is cognizant of it. Interest rates have been very low for a very long time, and the Federal Reserve has not had much success increasing them in recent years. It normally causes volatility, which is what investors don’t like.

The market prices in events before they happen. That’s why the government has been talking about raising rates since last year. Now we’re closing in on the projected date to begin rate increases and investors are nervous.

But here’s the catch. The government seems to feel they have to raise interest rates to lower inflationary pressure. It’s a Catch-22, and according to the head of the Federal Reserve, the plans are set to move forward with rate hikes in March.

Now, you may have heard Facebook stock prices fell off a cliff recently. MSN put it this way, “The meltdown in highflying technology stocks like Facebook is just the start of the financial changes that will probably result from the Federal Reserve’s decision to end a prolonged era of free money and make borrowing more expensive.”

Technology stocks are inherently sensitive to interest rates, so when rates go up they tend to go down. One explanation for this is tech companies use debt to finance growth and when debt gets more expensive profitably reduces.

https://www.msn.com/en-us/money/markets/facebook-s-faceplant-on-wall-street-could-be-just-the-beginning-for-some-tech-stocks/ar-AATvqC2

So, interest rates increasing may impair the growth of publicly traded companies because they can’t borrow as cheaply.

Before the revelations about what the Federal Reserve would do with interest rates or before the volatility in the market started this year our clients had a plan in place to weather the good times and the bad.

When we have years ahead of us before we need our savings to supplement our retirement income, what’s happening in the markets may not be as big of a deal. But when we’re five years out from retirement, or in retirement, the approach should change to an all-weather plan.

I hope your plan has been stress tested and is ready for the road ahead. If you’re not sure, call our office at 864.641.7955 to figure out if your plan is ready.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

Volatile markets like we are having this year remind me why I became an advisor. When things go south and get difficult is where value is seen. It’s a great feeling when we are able to communicate to our clients that they will be okay. With our process, we help our clients develop a plan to weather rocky times like these.

The Washington Post put it this way. Click the link to read. 

We have the perfect storm brewing with a possible Russian conflict and the expectation of rising interest rates. Last week, the Federal Reserve Chair stated that the government’s plans have not changed, but he stated the Fed would be “humble and nimble” moving forward. I interpreted that to mean that he wasn’t sure what to expect. Uncertainty is the thing the market does not like, and it’s getting it from multiple angles.

This is why I became an advisor: To help people navigate their retirement with as much ease as possible and eliminate as much uncertainty as we are able. We never lose sight of what matters and what we can control.

It’s our belief that we do not have to chase overall market returns to have a successful outcome in retirement. Productive returns and limiting volatility are our goal. It doesn’t have to be complicated, and in fact, the best things are normally those we can explain in our sleep. Learning the recipe is the challenge, but once that is accomplished, our hope is for our clients to see volatile times and not be as worried as they would be if they had no plan for the challenging time.

I’d encourage you to not delay evaluating the risk you are taking on in your accounts. Here’s an example of what we look at to help people understand where they are currently. Do you know the probability of what you’d lose with your current allocations if the S&P went down 30%? If you need assistance figuring that out,  call our office at 864.641.7955.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

The markets have been wild so far this year. On Monday, the market was trading down most of the day and at some points it was down a thousand points. But then at the end of trading the market bounced back. Expect more volatility.

In 2021, the economy experienced record growth. According to the LA Times, the stock market saw 68 record highs. But the burner may have turned on a little too hot and now our proverbial dinner is getting burned by inflation. When our money buys less product, everybody feels it.

When overheating happens, it indicates that the economy is growing too quickly and it normally can’t continue. The Federal Reserve is tasked with a huge decision: 

Increase interest rates to tame inflation or keep them as they are. If the Fed doesn’t increase rates, it may prolong the inflationary problem. If they do increase rates, it may create a recession. The Fed is expected to give indication today if they will raise rates in March.

If the Fed decides to hold rates where they are at near zero, the markets will probably bounce even higher and ballooning prices will stay. I read a great analogy that Tarek Mansour gave on Twitter to describe this situation.

It’s always a good idea to assess your allocations to determine how much risk you are taking on. Your risk changes as markets change if you are in equities, you may need to rebalance. 

 Determine how long you expect to go before you’ll need access to your money. If it’s more than 10 years, you may not need to do anything. However, if you’re within 10 years of needing your money, I suggest removing some risk.

The traditional way to remove risk has been by buying bonds or holding cash. Neither of those is generally a winning proposition in today’s climate. Remember, when interest rates go up, bond values will go down.

At the end of the day most people will come to find that their income in retirement determined their outcome.

Most people save for years and work hard to hopefully eventually be able to retire and enjoy life. It doesn’t really matter what amount you were earning for 30 years, if at the end your money is reduced and you can’t afford your retirement. This is what the fixed indexed annuity guards against and that’s why we believe it’s an essential element to a well thought out financial plan. Call us at 864 641.7955.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. 

Did you also know that the age of those requiring long-term care is actually decreasing? The stats shared in this newsletter are taken from Genworth.

In 2010, 81% of care recipients were 65 or older. In 2018, 57% of care recipients were 65 or older. So, younger people are needing long-term care.

Remember, that Medicare will only pay 100% of the cost at a skilled nursing facility for 20 days. Also noteworthy, 21% of people require long-term care after an accident.

The need for knowledge about this subject is only going to increase. By 2030, one billion people worldwide will be over 65. And until 2030, ten thousand Baby Boomers will turn 65 each day. 70% of individuals will need long-term care in their life-time. On average, people that need long-term care will need it for three years.

What do we do with this knowledge? Let’s start with what has historically been done.

Someone may learn the above information and say, "I want a long-term care policy." Here’s how they generally work: the person may think to themselves, “Well, if I need help and I need the most help, I guess that would be about $8,821 per month. So, I’d like a policy that will pay that amount.” 

Then they may choose to have a 30-day elimination period. What this means is 30 days after you needed care, the policy will begin paying you. Sometimes they may add an inflation provision. It's common for people to experience sticker shock when they figure out how much their coverage will cost. 

If the person can could afford the coverage, I’ve generally found that they probably started it in their 40s or 50s. So, the insurance company knew they would be paying for it for many years before they actually used it.

Each year the price may change for the policy, and if the insurance company that issued the policy found a lot of people in a certain state were needing the policy to payout, they may seek to increase the rates. I’ve talked with numerous people who saw their rates sore.

If the person in the above example could not afford it or was unwilling to pay for the above scenario, they may lower the monthly amount the policy will pay and increase the elimination period to 60, 90, or even 180 days.

But here’s the kicker. It's like your home or auto insurance. If you never use it, you normally lose it and all the money you put into it is gone. Sometimes you can pay extra for a return of a premium provision that will return your money if you don't use  the benefit. This may increase the cost and may make it less palatable.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. 

One of the speakers at the conference referenced a famous quote by author John Maxwell. Maxwell once said, "When you find your why, you’ll find your way.”

Think about it. When I know why I’m doing something, I can do more of it. For example, when I register to run a three-mile race, it’s easier to put in the training miles, because I know why I’m making myself endure the difficulty of getting in shape. Before we do anything, it’s important to ask why we are doing what we’re doing.

The book illustrates the power of small changes by using a plane that’s traveling from

Los Angeles to New York City. “If the nose of the plane is pointed only 1 percent off course—almost an invisible adjustment when the plane’s sitting on the tarmac in Los Angeles—it will ultimately end up about 150 miles off course, arriving either upstate in Albany or in Dover, Delaware.”

Mike Tyson, the boxer, once said, "Everybody has a plan until they get punched in the mouth." It’s easy when the market is favorable and a major bull run is happening to take on more and more risk and it may even be encouraged depending on where your recommendations are coming from.

 But bear market happens, and we get punched in the mouth. After this painful experience, we sometimes figure out we need a better plan, or at least a different plan. But this is normally not the best time to be figuring out our new plan.

A single, seemingly small, positive or negative decision may have a dramatic result.

The author is using this example to illustrate the power of bad habits, but this can also illustrate the power of good or bad financial planning. One seeming small decision to allocate a certain way may result in a wildly different result than you were expecting.

Darren Hardy, the author of the Compound Effect, said, “Unsuccessful people carry their goals around in their head like marbles rattling around in a can, and we say a goal that is not in writing is merely a fantasy.”

Obviously, I want you to be successful and glide through retirement with as much ease as possible. In order to do that, we need to have a well thought out comprehensive plan that looks at all the possible solutions available to you. Together, we can achieve that.

If you would like to receive a one-page written outline of our financial planning process, please  email us at [email protected] and we’ll forward it to you. Or you may call our office at 864.641.7955. This outline explains the steps we go through with our folks and allows you a snapshot of our process.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. 

Something I’ve learned is to set achievable goals. It's deflating to make a huge goal, then figure out weeks or months later that the goal is unrealistic. 

I’ve started making yearly goals that are going to be a stretch, but I believe I can accomplish them. 

This creates motivation for the next year, because when you have had success it creates positive momentum for the next year. And it allows me to have occasion to celebrate my accomplishments.

Toward the end of 2020, the Wall Street Journal had an article that I wrote about last year. Click the orange font above for a list of possible goals for retirees. 

I just reread the Journal article and something new stuck out. It discusses the idea that we should strive to always be a beginner, so we should always be trying to learn new things. The title of the article is For New Year’s Resolutions, Never Think You’re Too Old to Become a Beginner.

Most of us want to at least be as good mentally and physically as we are today. In order to do this, we should find new things to try to strengthen our minds and bodies. This is particularly important for me because cognitive decline has touched me closely. 

In 2018, at the age of 63, my mom was diagnosed with dementia. Today she is nothing like her former self. We may not be able to stop the dreaded Alzheimer’s or dementia diseases, but we can be proactive about trying to prevent diseases.

Of course, the only medical training I have is doing CPR on a dummy, but we know that a "merry heart does good like a medicine." Creating and finding happiness in our lives is essential to our wellbeing. 

The other half of that Bible verse says, "a broken spirit dries the bones." We were not created to just exist. I believe we were created for a purpose and to strive to find it. By doing this, I believe we'll find happiness. 

 If you’d like to learn how we help some people create a long-term care benefit that’s generally tax-free reply to this email or call our office at 864.641.7955.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. 

Jim Stack said, “The parallels we have today are historically very, very concerning. The current froth is the icing on the cake, and when you look through it, you see a lot of other underlying issues.” 

The article began by saying, “Despite a steep 30% market correction last year, the longest bull market on record has helped the S&P 500 surge nearly 300% over the past ten years—roughly in line with the growth in the ten years preceding the dot—com crash in 2000, after which stocks plunged 40% over two years.” 

A  risk factor is how the government will unwind its bond purchasing program down. The government began buying bonds and equities and lowered interest rates to help the economy combat COVID-19, and there has been much debate as to what the Federal Reserve will do. They have penciled in three interest rate increases for 2022.

Hindsight is twenty-twenty and many people hold the view that the government began stimulating the economy too much in 2020 and it has accelerated inflation. We are feeling the effects now on things like food, gas, and basic services. Figuring out how to lessen the inflationary impact will be on the government’s priority list.

It’s possible that since the market tends to pre-price changes ahead of time that the interest rate hikes won’t have much of an impact. At least that’s what the government is hoping. It’s possible that the market continues up and we don’t see major problems in 2022. Keep in mind, if this is the case, I believe inflationary pressure will persist. That’s why it’s imperative to not sit on cash.

There are two main reasons to not sit on excessive cash. We define excessive cash as more than one year of bill paying money.

If we hold large amounts of cash, we are losing purchasing power. When inflation is two percent, this is not felt as easily. When it’s six to ten percent it is going to be felt.

The second reason is nobody knows what will happen. Remember, after the 2008 correction, the government used similar measures as they are using now. The methods were slightly different, but some market commentators from 2010 to 2019 were calling for a market crash that did not materialize. If we held cash through this period, we significantly hurt ourselves. There are ways to be invested and only experience gains if there is a concern.

There is a difference between gambling and taking investment risk. With a well thought approach, the risk can be lessened in your portfolio. I would be happy to discuss how we help our clients mitigate risk.  Call our office at 864.641.7955 to learn more. 

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believe

Bloomberg ran an article this week that stated, “One of the interesting aspects of the brief selloff in stocks in late November was that breadth deteriorated markedly. The broad indexes were only down a few percentage points, but there were more than a thousand stocks making 52-week lows on a daily basis.” 

So, large indexes were only down a little, but over thousand stocks were the lowest they’ve been in a year. Big companies like Apple and Facebook and Microsoft help lessen the impact of the smaller companies losing.

The article continues to explain that nearly every investor owns those large companies, because they are used as hedge. As the market decreases, they tend to rise. In the early 2000s, the hedge stock was Cisco Systems, but when the volume of trading continually declined, it was the start of the Dot-com bubble.

But many people are unwilling to get out of the big stocks because their cost basis is so low. “Psychology dictates that people don’t experience as much pain with the loss of big unrealized gains as they do with outright losses, and are willing to withstand corrections of some magnitude. If you have a 500% gain on a stock instead of a 1,000% gain, it’s still a 500% gain." 

The author also explained that another advantage for the market has been people’s willingness to continue holding because it seemingly only goes up. The author concluded by saying, “I have also come across more and more investors who characterize themselves as optimists. Sure, optimism works most of the time. But there are long stretches when it doesn’t. Most people forget how painful the dot-com bust was at the time. It was a full three years before stocks finally returned higher. And don’t forget the sad period of 1929-1945. If the time you have to wait for new highs isn't for years or decades, it’s not easy to be an optimist. Remember, as recently as 13 years ago, pessimism worked as a strategy. They made a movie about it, if you recall: The Big Short.”

What To Look Out For

If you’re within ten years of retirement, what the market is doing is important to consider. How you’re allocated matters more as you get closer to using your investments for income. Consider whether what you’re doing is appropriate for your situation and verify whether it is with a trusted advisor. 

David can be reached at 864.641.7955 or by emailing [email protected]

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. 

...One of the thoughts I had as I cleaned the leaves up was that there is power is in doing small things in small sessions. Often, the hardest thing to do is the first thing, but when I practice doing a little every day, it results in accomplishments.

James Clear, a popular author, adapted the famous quote about how Rome was built when he said, “Rome wasn’t built in a day, but they were laying bricks every hour. You don’t have to build everything you want today, just lay a brick.” What bricks are you laying today?

Retirement comes with a set of adjustments, and how we set goals may need to be adjusted. I just read an interesting article about the challenges of beginning retirement, and while the article was largely geared toward men retiring, there is practicality for women as well. From the article:

“Here’s one of the main factors that lead to a good adjustment: Both of you must recognize that your husband will still have a deep need for significance and contribution—including beyond the family. This doesn’t mean that he won’t enjoy some time off. But sooner or later, many men have told me that they feel ‘rudderless.’ I should note that this is not just a “guy thing”, but it appears to be more acutely felt for men in retirement than for women in retirement. We all have a purpose for our lives, after all—deep callings and ways that we are built to contribute in a meaningful way.” For more practical tips check the article out here.

Turing a corner in life can be a rewarding time where you’re able to refocus on important things, and invest time in people and organizations that matter to you. I’ve quoted this Zig Ziglar quote before but it’s truth never fades. “Every time the opportunity (alarm clock) goes is another opportunity to get up and go.” What opportunities do you have to make an impact?

I guarantee you there are non-profit organizations close to your home that would highly value your input and assistance. You could make a major impact serving in a volunteer capacity. Or better yet, how can you serve those closest to you like your family?

Consider what you’ll aspire to achieve in 2022. Start thinking about it now, so you have time edit it or fully think it through. Then, write those goals down, so next year around this time you can see what you’ve achieved. It’s important to commit our goals to pen and paper because we can’t improve what we don’t track.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.