Retirement 360

Since no family is average, and you cannot depend on the financial markets to stay average - one must create a unique plan that adheres to their needs and wants. You can start by meeting with a financial advisor, or take classes (sign up at HERE) and learn about strategies that are best for you.

This week on Retirement360, MWA advisors Alan and Troy, and host, Tony Vanetti try to answer these questions and more. You will learn to answer questions like:

How do I create a will? And, why is it necessary?

What does a Bull Market mean?

How do I protect myself should the Bull Market turn?

If I am nearing retirement, do I take the lump sum offer?

Tune in to why financial planning should be personal and customized and why no one solution is a cure all.

Many in our community are a DIY - do it yourself - when it comes to their own finances. But, is there a line at which you should consider asking for help in managing your assets? Are the DIYers choosing their best options and strategies?

- Are they putting too much trust in a "Target Date Fund"?

- Do they know they know what option is the best to pull money from SS or IRA?

- Should you invest the majority of your assets in the stock market?

- And how much of your SS do you actually get to keep?

Some say, once you reach 250k in assets, you should consider meeting with an advisor. This week on Retirement360 MWA Advisor, Alan and host, Tony Vanetti, discuss these questions and more. The benefits of having an advisor can sometimes outweigh the costs, and also ease your piece of mind. Knowing you have a trusted Fiduciary working for your best interests that can help navigate the expansive financial industry might be something to consider - even for the DIYer.

We hear recurring topics when listening to our community and their fears of planning for retirement:

Will I have enough income saved?

How much income do I need to maintain my lifestyle?

What happens if I get sick and need long-term care?

What happens if there are cuts to Social Security?

While our advisors do not have a crystal ball, they can assist with planning ahead and trying to prevent a disruption should an event occur that may affect your financial future. They assist in creating the solutions to combat your worries.

This week, on Retirement 360, MWA advisors Alan and Troy, with host, Tony Vanetti touch on ways on how to start planning, when to start planning, and what to consider or ask your advisor as you approach your retirement. There are no dumb concerns, and they are no dumb questions. Whether you are an expert, or a novice, the MWA advisors are here to help. Tune in for so much more!

When is the right time to retire?

Is it solely based on age? When you have exhausted your role at work? Could it be due to family obligations or even sickness? Are you maximizing your Social Security to receive the best benefit? Are you following your risk tolerance to make sure your investments are sound - whether it's for an annual or long-term return?

What should you be asking your advisor, and what should your advisor be asking you?

For many, leaving a legacy to your spouse, family or charity is built within your long term planning. But more than just assigning a beneficiary, your legacy will need to project market inflation, routine audits and even thinking outside the box of just your assigning your assets.

Mercurio Advisor, Alan will chat with host, Tony Vanetti and go over ways to maintain and grow your legacy, account for market changes, and even add items like your airline miles!

There is no crystal ball, there are no tea leaves and there are no fortune tellers to fully explain what the future holds. But families, with the help of their advisors, can prepare for both the blue and grey skies when it comes to protecting and growing their assets.

In retirement, you will need to navigate where that future paycheck will come from, and ensure it will last as long as it needs too. Is a lifetime income possible? Yes. Will it need modifications along the way? Yes, especially should there be new tax changes that will affect your assets. Will you be able to protect that income outside of storing your cash in just your checking account? Yes.

This Sunday, Mercurio Advisor's Alan and Troy will chat with host, Tony Vanetti and go over ways to maintain your income and opportunities to see it protected, and grow - no matter the color of the skies.

"We can't help everyone, but everyone can help someone," said Ronald Reagan. At MWA, we pride ourselves combining our experiences and learning from the daily trends when it comes to creating the best path to retirement for our clients.

Every day, we help our clients navigate some of their biggest questions and concerns and even steer them away from potentially bad habits that might affect their futures. We meet with families who have fallen in love with a certain stock, and they just can't seem to let go no matter that outcome. Or, we identify ways in making their nest egg last and thrive. Or, creating budgets so they enter their retirement as debt free as possible - and not just lowering credit card debt, but also mortgages and school loans.

Often, the MWA advisors hear these questions from our community. The top three concerns are:

How much income will I need?

When will I take out Social Security?

How do I select my retirement date?

There is no one plan that applies to everyone in the same way. That is why it is so important to have a game plan in place. Some families will want to maintain their current standard of living, other might want to hitch up a Winnebago and hit the open road. That is why an individualized plan is so important. These two families will have different goals and will require different strategies.

Depending on your goals and the needs of your family, you should be asking yourself how can you get there. By working with an advisor, and one who is a fiduciary, they will help lay the course to a stress-free retirement, making sure all your needs are covered along the way.

It is a fairly simple question but unfortunately, the answer can be long, complicated and layered. Retirement planning is different for everyone and for every family. No one solution is exactly applicable even if situations are similar.

Investing in the stock market might yield greater rewards than a low-index fund, but your openness to risk is also much higher. Men and women invest differently, so who is the driving force in your family's planning, and are all needs being met? Is your advisor advocating for the both of you equally and or are they applying a cure-all to both partners? We as a community might share in the struggle of national financial events, so are we to all have the same plan in place?

The short answer is no.

Founder and President of Mercurio Wealth Advisors, Alan Mercurio, and advisor Troy Bolton, with host, Tony Vanetti speak openly about the challenges facing families when it comes to finding the right path for them. As life changes, and goes through ups and downs, are you prepared for the "what ifs?"

Sounds reasonable, right? If you promise a friend the wedding cake of their dreams but show up with a box of lumpy cupcakes and a faltering smile…someone’s not going to have a good day. Ever been on a trip and the driver assures you that they “know a shortcut” to bypass traffic that ends up getting you three hours off-schedule? Maybe you’ve taken on a big project at work before, confident that you could exceed expectations, but slowly find yourself struggling just to keep your head above the sea of work you’ve stranded yourself in. The problem across the board in these scenarios? Someone promised more than they could guarantee—and disaster resulted for all parties involved.

Promising more than what can be delivered is a trend we see time and time again in the financial world, especially when it comes to pensions and 401(k)s. This week on Retirement 360 with Kentuckiana’s Retirement Coach Alan Mercurio, we’re going to be discussing how both of those income streams come loaded with potential problems for retirees.

Mismanaged pensions and 401(k)s have been making the headlines all this year. Promises were made to employees that their retirement funds were being properly managed, only for those at the top to draw back the curtain and reveal severely underfunded pensions and poorly invested employee accounts. Don’t let a faltering pension or shaky 401(k) spell disaster for your retirement. There are ways you can turn yourself back on track, but you’ve got to act now.