Rethinking Retirement Income Part 1 – Introduction
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Lethemon Financial, Bloomfield Hills, MI
William G. Lethemon III, owner of Lethemon Financial
Bloomfield Hills, MI
I am very excited to share with you the first video in a 4 part series on the Rethinking Retirement Income, How to create your ideal retirement.
I created this video series, specifically for people who are either just recently retired or are maybe planning on retiring in the next couple of years.
The Purpose of these videos, is to help you get the answers to some of your most important retirement questions like…
When can I Retire?
Have I saved enough?
Will I run out of money?
How long will my money last?
You probably already know that the rules of retirement have changed.
Over the next 20 years 72 million baby boomers will be retiring, and according to a recent study done by the Wall Street Journal 75% of them are not prepared. On top of that, corporate downsizing, and the recent recessions have pushed people into retirement earlier than they planned for.
Chances are good that your retirement will be much different from your parents. You will likely live longer and be more active. Today’s retirees will get a smaller percentage of their retirement income from fixed sources like Pensions and Social Security. What this means, is that you will need to be more self reliant.
Throughout the presentation, I am going to be debunking a lot of conventional wisdom to give you the real facts you need to create a successful plan for retirement. By the end of the series you will have a pretty good idea if you are on the right path, or if your not, what changes you can make to get back on track.
Let me tell you about what i’m going to cover in these videos..
In part I, I will address many of the current challenges facing baby boomers today. As I mentioned earlier the rules of retirement have changed. I will show you how these trends can affect your retirement or in some cases, completely derail it.
In Part II, I will show you how to use our worksheets we created, to organize all of your financial information. I will walk you through a case study, as we help you complete your own worksheets, so you can follow along step by step. Completing your worksheets will be the first step in really getting prepared for the important decisions you will need to make regarding your retirement and investments. In the process of completing this exercise, you will have calculated your initial withdrawal rate. This figure will be the foundation for your retirement distribution plan, and will help you make smarter decisions.
In Part III, We break out some statistics, and really get into the nuts and bolts, that will determine the probability of your success. You will learn how inflation, average market returns, withdrawal rates and sequence of returns, all can affect whether or not you will run out of money.
Finally in part IV, We will put everything together. I will share with you some real practical advice on asset allocation, how to use your investments to create an income stream, and you will learn some ways to minimize the effects of withdrawals and market volatility, so you can increase your chances of success.
To wrap up, these videos are all about helping you pursue your goals. For years you worked hard, saved your money, and for most of your life investing was pretty easy. But in the last 10 years or so, with the .com bust, 9-11, and the 2008 financial meltdown, the retirement and investing landscape has changed significantly. Twice since 2000, we have seen the stock market averages drop nearly 50%.
Many investors are wondering if what they are currently doing still makes sense. Throughout these videos I will discuss how traditional strategies may or may not be working anymore, and discuss new strategies that may be better for creating retirement income that lasts as long as you do.
Before you begin watching the rest of these videos, download our free 50 page retirement survival guide. In it you will have an easy reference for a lot of the material covered in the videos. Also in the guide are the worksheets you will need for part 2 on financial organization. So to get the guide, just enter your email address in the box on the right and we will immediately send it to you.
You will also want to grab a pen and some paper to take notes. As you watch write down any questions you you have while they are fresh in your mind. You may also want to watch these videos with your spouse or significant other. If you have any questions, feel free to call or email our office anytime.