The American College’s Retirement Income Certified Professional (RICP)® curriculum includes a list of 27 risks that retirees face. Here are three risks that are incredibly important but often overlooked.
Your client plans to work until age 66 in order to retire with full Social Security benefits. Unfortunately, a health, family or employment issue forces them to retire at 61. Are they financially prepared to support the lifestyle to which they've grown accustomed?
This happens more often than you would think. According to a recent Gallup® poll, the average American retirement age is 62.
What happens to the family income upon the death of a spouse? It is imperative to evaluate survivor benefits in pensions and Social Security.
What may feel like a comfortable retirement can become downright terrifying upon the death of a spouse. Income sources are often halved, yet lifestyle costs for the widow(er) remain very similar to those of a couple. The last thing they need to be concerned with is how to replace lost income after the death of their spouse.
Retirement income planning is all about balance. Balancing competing interests is the name of the game.
Think of your financially successful clients and prospects who want to maximize both their retirement income and their legacy assets while minimizing market risk. For them, using income guarantees can result in a more efficient allocation for income (generating the highest guaranteed income with the least amount of assets) allowing the remaining assets to be managed to achieve their legacy goals.
If your clients don’t have the benefit of a crystal ball, shifting these uncontrollable significant risks to an insurance solution is sound advice. We can help you develop a plan to address these risks.
Give us a call, tell us about your client’s situation and let us go to work for you.
© 2018 Ash Brokerage LLC.