1. Are we in a bear market? If so, according to Ned Davis Research in 2020, the average bear market lasts 3.6 years. Preparing for it while you are in the Red Danger Zone (six years before and after retirement) requires that you have enough protected and consistent income to handle your essential lifestyle. The future value of investor assets, such as stocks, mutual funds and bonds are not guaranteed. If a withdrawal is taken while the market is down, it will take an increase in value much greater than the decrease for the portfolio to recover.
  2. What are the solutions to a Bear Market and covering your essential lifestyle? There are financial products designed to shield a portion of your portfolio from unknown difficulty like market declines. Remember life is a series of expected and unexpected events. We can’t plan for all unexpected events, but we can plan for the economic consequences these events might have on our lives. Get with a financial advisor that helps you plan for both expected and unexpected events.
  3. Speaking of unexpected events…….. Do you know what is creditor protected in your State? It is important to understand that if an asset is not properly protected by insurance, contract agreements, or state and federal laws, it may be subject to seizure. To find what is protected in your state go to https://bit.ly/3rrkLs2.
  4. Five Key Decisions regarding your Estate Planning
    • Who will manage my money when I die?
    • Where does my money go?
    • Who takes care of my minor children?
    • Who makes medical decisions for myself if I am incapacitated?
    • Who makes financial decisions for myself if I am incapacitated?
  5. The Importance of a Living Will
    • It answers the question of who makes your healthcare decisions on your behalf if you become incapacitated.
    • It empowers you to direct what actions to be taken by medical professionals in case you are unable to make those decisions.
    • Making decisions today doesn’t mean you can’t change your directives in the future.
    • Avoids family disputes because courses of action are predetermined by you.
    • Having your Living Will in place means you can enjoy the peace of mind knowing that you’re prepared.

Recommendation: Secure an advisor, understand these concepts, and let him or her guide you to a worry free and successful retirement!

First Benefits Group Inc is neither a legal nor accounting firm, and does not render legal, accounting, or tax advice.

You should contact an attorney or CPA if you wish to receive legal, accounting, or tax advice.

©FirstBenefitsGroupInc 2022