Ready, Set, Retire!

Americans who are 55-64 have only saved 12% of what they need to fund a secure retirement – BIG MISTAKE! When planning for your retirement and creating that income plan, it’s important to “color in the lines,” and avoid mistakes. One small mistake, could cost you BIG! What is the biggest mistake one could make while planning for retirement? Steve explains and shares some of the most common mistakes made without the guidance of an experienced professional.  

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The #1 fear when it comes to retirement is running out of money, so how can you avoid this? On this episode, Steve explains his strategies on how he can turn your nest egg into lifetime income you can’t outlive. Plus, do you know the buckets and colors of money you need to retire?  Get more details at www.fairwayfinancial.com!

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Warren Buffett, chairman and CEO of Berkshire Hathaway is worth $84.2 billion dollars. If you’re like me, you’re thinking, “How did he do that? How can I do that?” It’s a question that many of us ask ourselves.  Steve sticks to his rule (and Buffett’s) of rule #1, don’t lose the money – rule #2, see rule #1!  See what separates the mega-wealthy from the rest of us and how Steve can help you have a successful, stress-free retirement.     

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The question most Americans ask Google is, “How much money do I need to retire?” We all wonder that, right? Here’s the deal, there’s not a “secret sauce” or a “secret number” that works overall because everyone’s retirement is different. Remember, retirement planning and income planning  is NOT cookie-cutter. The first step is to begin the conversation, see where you are today, where do you want to be in the future and then, what do you need to do now to bridge that gap to have a happy, confident retirement.  How does guaranteed income sound? What should you do with your old 401(k) or IRA?  Steve can help you today!

10 most-asked retirement questions, past year U.S.  1. How much do I need to retire?  2. How to retire early  3. When can I retire?  4. What is the retirement age?  5. How much to save for retirement?  6. How to save for retirement  7. How to retire at 50  8. How to retire  9. What is full retirement age for Social Security?  10. Where to retire

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Do you think your taxes will go up or down when you retire? If you’re thinking they’ll go UP – then you would be correct! If you’re ahead of the game and have a plan, it can help you plan for future taxes. You have to proactive when it comes to taxes or you may be in for a big (no so fun) surprise! The same process you use saving for retirement is the same process you should use for saving for taxes.  How can you maximize your taxes in retirement? Did you know you could have a tax-free retirement? Be in control of your retirement, talk with Steve today!

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Not having a plan is a plan to fail. The #1 fear of retirement is running out of money, so how can you avoid that? Many people think that just having a 401(k) or an IRA is a plan – NEGATIVE! A plan is the process of putting together the savings you’ve accumulated to reach a desired income.  The investment is a “holding pen” where the money is, a plan puts the money in action. As you get closer to retirement, you have to focus more on income vs investments due to time needed to make up for any losses. It’s all about the plan, the goal, the objective.

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