Will Your Current Income Strategy Last As Long As You Do?
- Have you lost money in the stock market or on mutual funds over the past five years?
- Are you concerned about the amount of risk you are currently taking with your retirement assets?
- Do you pay taxes on your current Social Security income?
- Do you rely on Social Security benefits for most of your income?
- Are you concerned about your family’s financial well-being in the future?
- If you died tomorrow, would your spouse lose more than 20 percent of the current household income?
- Are you concerned about the costs associated with long-term care and the financial impact it may have on your retirement assets?
- Have you gifted ANY amount to your children, your church or a charity in the past five years?
- Do you own a variable annuity?
- Do you currently use your variable annuity as a source of income?
- Are you concerned that you will someday outlive the money you have saved for retirement?
- Are your parents still alive and older than 80, or did they live past the age of 80?
- Did you retire early, or were you laid off before you were ready to retire?
- Has it been more than 90 days since you last met with your financial professional in person?
- Did you inherit any money in the past 12 months?
HOW DID YOU SCORE?
If you answered “yes” to 10 or more of the above questions, you may be at a higher risk of facing some form of significant income planning obstacle, and could benefit from a no-obligation, 30-minute analysis and/or a more comprehensive financial review.
If you answered “yes” on four to nine of the questions, you may be at risk of developing problems involving your income strategy that could affect your financial goals for retirement. Your family or loved ones may also face unintended financial liabilities after you pass away. It may be wise, at this point, to take advantage of a no-obligation, 30-minute analysis to get a second opinion and learn about alternative strategies, insurance products and various investment vehicles.
If you answered “yes” to three or fewer of the questions, you are likely not exposed to significant income planning issues at this time that could impact you or your family’s retirement goals and objectives.
THINGS TO CONSIDER….
Ask yourself the questions below. If your answers seem peculiar or out of place, you may want to learn more about the various investment vehicles, insurance products and services from B.O.S.S. Retirement Solutions.
- Has your financial professional ever fully evaluated your life insurance, annuity, and LTC needs, particularly if you have had a major life event — like marriage, kids, divorce, retirement, etc.?
- Has your financial professional ever fully disclosed all of the fees you are paying for your investments and his/her advice? If so, were you surprised at what he/she said?
- When you sat down with your financial professional at your last meeting and went over your investment and income strategy to make sure everything was still on track, were you satisfied with your situation?
- Have you experienced a level of decline in the value of your retirement savings that is unacceptable to you? If so, what did your financial professional do to help protect* your assets from future potential market losses?
If we can be of any assistance to you in helping determine whether or not your current income strategy will last as long as you do please call us at 801-990-5055.
Our firm assists retirees and pre-retirees in the creation of retirement strategies utilizing investment and insurance products. Advisory services offered through B.O.S.S. Retirement Advisors, a Registered Investment Advisory firm, and offered through Global Financial Private Capital, LLC, an SEC Registered Investment Advisor. Insurance products and services offered through B.O.S.S. Retirement Solutions. To see a list of services please visit us at bossretirement.com/services.
This content is provided for informational purposes only. It is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.
*Protection is guaranteed by investment and insurance products which are backed by the financial strength and claimed-paying ability of the issuing company. Not FDIC insured. This quiz is for informational purposed only. It is not intended to provide any tax of legal advisor or provide the basis for any financial decisions.
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