Jars of money labeled for budgeting
June 16, 2020
Written By:
Dan Kingerski
Retirement Specialist

Empowering Your Retirement

Is anyone else trying to empower retirement but getting dizzy from the wild stock market ride that began when a sneaky virus feasted on the world? The stock market has gone down thousands of points and rose thousands of points and is now headed back down. 

Are you worried about protecting your retirement income? What will happen to your 401k and your retirement income if the market goes down?

Do you want to wait another 10 years to recoup those losses?

When you were working, you added to your nest egg to empower retirement. Your sacrifices, blood, sweat, and tears went into building a better future. Now, it seems like the world is attacking it. 

3 Ways to Empower Retirement in a Crazy World

1. Choose Guarantees

Your money can be safeguarded and still return much more gains than a money market account or a savings account. The bank might give you 1% on your money. That's safe, but the money certainly will not grow. 

We work with companies, including Alliance and Pacific Life (and many more), to build a wall around your retirement savings. We can provide growth at three or four times higher than the banks, but also guarantee your investment will keep growing even in bad times. 

2. Work With a Professional

If only we had a nickel for every client who invested their retirement with a big-name company but didn't know where their money is invested. Sure, the advisors send a Christmas card and a yearly statement, but are they watching your money and paying attention to your changing needs?

You can invest it and forget it. Your advisor should not. 

On a scale of 1-10, one being money under the mattress and 10 being a wild night at the casino, how risky is your retirement account?

We sit down with our clients and discuss what you need. We figure out how much growth you need to meet your goals and how much risk you're willing to endure.There are specific ways to protect your retirement income, even in this crazy world. 

3. Indexed Guarantees

Somewhere between money in a fixed-guarantee with smaller returns, and being subjected to the stock market roller coaster, indexed and variable guarantees provide all of the upsides of the stock market, but none of the downside risk. 

No joke. 

If you have 10,000 in the stock market, and the market goes down 20% one year,then goes up 20% the next year, how much is your retirement account worth?$10,000, right? Wrong. That's a trick question. When the market goes down 20%,the account goes down to $8,000, but when the market goes UP 20%, the account only goes to $9600. So, you're still in the red, even though your advisor says you're even. 

Tricky, isn't it? 

Indexed guarantees provide growth when the market is going up, but doesn't go down when the market falls. Many of our clients happily make the trade out of their 401k to participate in the market gains but guarantee they won't lose money. 

And, above all, refer to suggestion No. 2. Work with a professional like Brian Goldman Financial. They work with dozens of companies to get the best rates and grow your account. 

Dan Kingerski