Retirement and estate planning isn't stimulating and exciting conversation. It's not a topic we use to introduce ourselves at cocktail parties and social engagements. It's not the most suave pick-up line among singles. Indeed, most of us are bored and disinterested in the discussion of retirement planning, and surely we don’t enjoy any conversation relative to death and taxes.
A recently released 2012 AARP study concluded that 72% of all Americans felt inadequately prepared for retirement. Approximately 67% of Americans do not believe social security income for retirement will exist in its present form. And in my 32 years of retirement planning experience, it’s startling to observe how many Americans still believe social security income alone will sufficiently provide retirement needs.
Understandably, we are devastated by a long and enduring economic downturn. Job losses, reductions in salaries, and our devalued investment portfolios have zapped our confidence of ever retiring early and comfortably. The equity of home ownership, once thought as a cushion for retirement, has been devastated. Fewer than half of the nation’s workforce has 401k plans, and more than two-thirds of households have no retirement income coverage in the form of catastrophic illness care.
More than any period in our country’s economic history, the American people need to seek and acquire proven retirement and estate planning alternatives. It’s a common fact that no governmental program or subsidy alone can provide the retiree the secure and comfortable lifestyle they diligently worked to attain. The question is…how?
There are safe and secure retirement and estate planning strategies that one can implement. Start by consulting an experienced estate and retirement planner who will assist in writing a personal investment policy statement. Then, with their expertise, implement a plan that protects your assets thru preservation of principal and ensuring a predictable income. At an age where many retirees feel they may face an income shortfall, protect yourself with an increasing income strategy. There are various tax-free planning strategies that can potentially lower your taxable income and estate inheritance, as well as protecting yourself from unexpected catastrophic illness expenses.
These are just a few of the estate and retirement planning tools one can implement.
How unfortunate that the greatest free enterprise, well-educated, and prosperous nation in the world has a populace feeling isolated from their American retirement dream. That dream is yours… Take ownership of it….
Trumbo Capital Management, LLC.....It's not just money, it's your legacy!
Bo Trumbo, president of Trumbo Capital Management, LLC, has practiced estate and retirement planning for 32 years. Mr. Trumbo speaks on radio and television, stressing the individual need to maximize retirement through principal and income protection, key life insurance, and critical care illness protection. Mr. Trumbo can be contacted via email at firstname.lastname@example.org or 407-839-1962.