Personal Pension Radio

Welcome to the Personal Pension Radio Podcast, where it's all about preparing today so that you can sit back and reap the retirement lifestyle benefits later! Discover time tested strategies to help lower your taxes, cut your expenses, and focus on maximizing your lifestyle today without sacrificing your retirement lifestyle or legacy tomorrow.

Join us as we help you avoid the advice offered by unlicensed financial entertainers and the Wall Street marketing machine. We uncover financial strategies that empower you to break away from the herd. Success does not come from a product or a singular strategy. Savings, investing, tax strategies, estate preparation, insurance, goal-setting, income strategies, and lifestyle design must all be considered from a macro perspective.

Wealth accumulation is an important component of a financial plan; however, the size of your 401k account, stock portfolio or defined benefit plan, the balance of your accounts can overshadow what is most important - the income they can provide. As you prepare for the sale of your business or retirement, the question you should be asking is, "what will my income be and will I be able to preserve my lifestyle"? You can retire or sell your business with your lifestyle intact. Don't settle for inaccurate and incomplete information from Financial Entertainers. There is a better way!

One of the greatest ways to build wealth is to start your own business. This can be a scary proposition for some and an exciting adventure for others.  Debbie Blackford started her entrepreneurial journey 18 years ago when she decided to go from being a Mary Kay cosmetics customer to becoming an Independent Sales Director with the company. 

 

 

 

Direct download: Debbie20Blackford20Level.mp3
Category:Personal Finance -- posted at: 7:00am PDT

Wealth accumulation is an important component of a financial plan; however, the size of your 401k account, stock portfolio or defined benefit plan, the balance of your accounts can overshadow what is most important - The income they can provide. As you prepare for the sale of your business or retirement, the question you should be asking is, "what will my income be and will I be able to preserve my lifestyle? "You can retire or sell your business with your lifestyle intact. Don't settle for inaccurate and incomplete information from Financial Entertainers. There is a better way!

In this episode, we discuss the conspiracy theory that says the government is coming after our retirement accounts.  Backers of this idea suggest that when President Obama introduced the MyRA plan in his state of the union address in 2014, he was setting the stage for the complete nationalization of the retirement system.

Is is possible that the US government could seek to take over the trillions of dollars in the retirement system someday?  Maybe but not likely.  Rather than see this as a conspiracy, we see it as a good sign.  The first step to fixing a problem is admiting that one has a problem.  We have a retirement income crisis in America and the MyRA is a good first step in admiting there is a disasterous retirement income problem.

Like the common advice offered by Wall Street and contemporary financial advisors, the President's plan falls short.  President Obama's plan fails to address the retirement income problem.  His plan calls for more savings with no mention of how people will turn those savings into lifestyle cash flow. 

Direct download: Marc__Kraig_Proposed_401k_Changes.mp3
Category:Personal Finance -- posted at: 7:00am PDT

Marc Miller and Kraig Strom review an actual client case study.  Kraig's clients originally thought that retirement was out of reach.  They had researched retirement income options with a financial advisor and on multiple websites.  They were extremely disappointed with the post retirement income they were told to expect. 

After going through the retirement income analysis process, they now have hope for a brighter retirement future.  Now they are looking forward to a lifestyle that they had given up on.

Direct download: Marc202620Kraig20Case20Study.mp3
Category:Personal Finance -- posted at: 9:14pm PDT

Michael Canet, Host of the Savvy Investor TV show and the CEO of Prostatis Financial Group Joins Kraig to talk about how he helps clients create and grow wealth, protect and preserve it, and distribute it the most tax efficient manner while alive and after you have passed.

As founding member of Prostatis Group, LLC, Michael has built his business and reputation on the stability he provides for his clients. His retirement and estate planning carefully allocates their assets so that they can retire with the confidence, income and tax-deferred wealth protection they need to create the quality of life they deserve.

Michael is the author of Surviving the Perfect Storm - enter to win a free copy today.

We focus more on the income creation during retirement - along with estate and tax planning. Chico & The Man. "That's not my Job"  - Prostatis says "That is my Job.

Beneficiary designation mistake?  Lisa recently passed at young age. She had a TSP. We warned her to get out of there but did not get round to it. Struck with breast cancer. Sadly, we ended up doing death bead planning. 

The advisor that got you to retirement probably isn't the advisor to get you through retirement.

Income Planning Lessons

Establish reasonable income expectations

Take the least amount of risk necessary to accomplish your income goals

Diversification - is not how much you make, its how much you keep

What is sequence of returns and why does it matter during retirement?

Market drops + your income = massive losses!

The proper balance of investments and actuarial assets such as annuities. 

 

Direct download: Mike20Canet20Level.mp3
Category:Personal Finance -- posted at: 7:00am PDT

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