Plan Design to Optimize & Protect Your Nest Egg
Plan Design to Optimize & Protect Your Nest Egg
61% of Americans fear outliving their income more than they fear death. Clearly, one of the biggest challenges most people face in retirement is generating the income they need while preserving and protecting it for the rest of their lives.
As a result, when designing your retirement plan, Retirement Solved recommends a Multi-Discipline Retirement Strategy™ (MDRS).
MDRS is a proprietary, pragmatic and comprehensive set of plan design strategies that incorporates all of the key retirement disciplines. While each discipline serves an independent function within a plan, each must be integrated and factored together when calculating income optimization and determining your risk management outcome. It’s critical that whoever is designing your plan understands this inter-relationship and has the knowledge, skills, tools and resources to deploy the strategies suggested for each.
For proper retirement plan design, you simply cannot afford to ignore any of these critical path components, and you cannot afford any surprises. Knowing more truly does mean having more.
Visit the Knowledge Center for more information, guidance, classes, videos and resources about each discipline. Request access to our Retirement Readiness Kit for more guidance on following the MDRS method.
Retirement Income Optimization TM or the RIO strategy factors together retirement income; retirement plan distributions; Social Security; investments and tax planning. Our strategy addresses things such as:
The RIPA…Your Retirement Benchmark
A Retirement Income Projection Analysis, or RIPA is the key to benchmarking where you are currently with your retirement income plan and then determining what’s missing to get you to full optimization.
If you choose to work with a Retirement Solved affiliated advisor he/she will address these questions and issues by performing this analysis in the Design phase of our 5-step process. The RIPA is perhaps your most valuable retirement benchmark. Leaving no stone un-turned it helps you understand where you are, where you want to be and what changes need to happen in order to get you there.
We suggest that you include a RIPA as the foundation of your retirement plan design strategy. There are some basic tools/calculators you can use on your own to give you some indication of how much money you need to save and how long that savings will last in retirement (you can access these by requesting access to our Retirement Readiness Kit). But, the RIPA is a very sophisticated and comprehensive tool providing actionable insight that simply can’t be matched.
Request a RIPA today with an affiliate advisor
Our Risk Management strategy factors together long term care (LTC), healthcare, Medicare and estate planning. Incorporating these protection strategies into your plan is critical. When you work with an affiliate advisor he/she can perform Risk Management assessments to determine what and how much protection you need, and how you will pay for it. We address Risk Management planning in phase 2 of our 5-step process.
We implore you, should you be working on your own or with another advisor, not to discount the importance of this part of your plan. You can request access to our Retirement Readiness Kit for more Risk Management and visit our Knowledge Center to learn more.
For many people, a failure to plan for LTC expenses can lead to financial devastation. LTC expenses can easily approach $200,000 during the average length of LTC treatment, whether care is provided at home, in an assisted living facility or in a nursing home.
Retirement Solved suggests that you understand the risks for an LTC incident and what you can do about them in advance of an incident.
While not everyone needs LTC insurance, it’s important to have a financial professional help you make this determination weighing several different personal factors unique to your situation.
Healthcare is a big-ticket expense for most retirees. Out-of-pocket health care costs for the average 65-year-old couple can reach $250,000 over 20 years in retirement and nearly $500,000 over a 30-year retirement.
Upon signing up for Medicare benefits, many people are surprised to learn that there are costs involved with the program. These costs impact your retirement income and must also be calculated into your RIPA so you can see the impact. Retirement Solved can help you understand the Medicare maze.
Our affiliated advisors offer Healthcare Assessments to review what coverages you will need to protect your nest egg. Based upon your current health condition, family medical background and other factors, they will prepare a report assessing your expected costs. They then prepare a long-term care strategy to effectively address and tackle these potential expenses. Your best defense is a good plan.
I want to leave my children enough that they feel they can do anything, but not so much that they do nothing.
– Warren Buffet
One of the most precious gifts you can give your children or grandchildren is to plan your estate. You’ve worked hard for everything you have, this is why it’s essential to make sure your assets are protected and that your loved ones, not the IRS, receive a large portion of what you leave behind. With a few simple steps and a little initiative, you can make certain this protection is in place. Retirement Solved can help educate you estate planning issues and tips for creating your plan. Our affiliated estate planning attorneys can also be tapped to save your loved ones from the inconvenience and added expense of reclaiming your assets.
Retirement Solved’s MDRS is based on a holistic approach to determining your risk management and income optimization strategies, but it’s also flexible enough to be offered on an a-la-carte basis. This gives you the ability to “pick and choose” the specific areas you would like further analysis or assessments conducted by our affiliate advisors on your behalf. Whatever the services utilized, our affiliate advisors provide absolute objectivity and the highest quality service possible.
Download this valuable free kit and make sure you’re ready.