In my talks around the country, I frequently speak on retirement income and trying to make the income stream more efficient. Often this means having to discuss taxation and overall income disbursement. There are a lot of major hurdles that today’s advisors will encounter while helping clients plan for retirement income.
The end result is this: advisors are going to have to work out how to generate more income, for longer periods of time, with less assets than ever before.
This generation of advisors has more challenges to face than have been seen in the financial industry for the last twenty years. This means we have to think, act, and plan differently. Our world is changing, and we must adapt to the new world – or lose the client’s confidence.
Winning Strategy: Understand the new rules of retirement income planning. Think and act differently than you have previously in order to adapt to the new world of income planning.
About the Author
Mike McGlothlin is a team leader, retirement industry activist and disciple of Indiana Hoosier basketball. In addition to being EVP of retirement at Ash Brokerage, he is a sought-after writer and speaker. His web series, “Winning Strategies,” provides insight and motivation for financial advisors in many forms – blogs, books, videos, podcasts and more. His latest book, “Free Throw for Financial Professionals,” is available now – learn more at www.freethrowsforpros.com.
1 LIMRA FactBook
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