Income Preservation for
Retirees
Are you getting ready to retire?
You are not alone. Over 78 million people in the United States are
retiring. The Baby Boomers have earned record levels of income,
generated great wealth, and spurred economic growth. But, they have
also spent at record levels, failed to save, and accumulated unprecedented
levels of debt. It is estimated that two-thirds of Baby Boomers
between the age of 54 to 63 are financially unprepared for retirement.
They have not accumulated enough savings to maintain their lifestyle
as they age. The bigger issue: many people do not realize
they are ill-prepared. Do you know if your prepared? If
your not sure, we would like to help you.
Do you have a retirement account such
as a 401k with a previous employer?
If yes, there are several ways to transition your retirement funds.
Depending on your situation, some options are better then others.
Annuities, Life Insurance Policies, and other secured investments
may or may not be right for you. Guidance from an Allgen Private
Wealth Manager will help you determine how to best navigate the
options available to you.
When should you retire?
This can be a difficult question to answer sometimes. There are
two components to consider. 1) Emotionally prepared. Are you emotionally
prepared? This is something only you can resolve. 2) Being financially
prepared. This is something Allgen can provide an objective evaluation
so you can make a wise decision if now is the right time for you
to retire or not. They are not mutually exclusive. Both 1 and 2
should be determined before deciding to retire.
Why use Allgen to help plan and manage
your retirement funds?
(1) We take the emotion out of the decision making process when
it comes to investing.
(2) A dedicated money manager monitors your investments daily.
(3) You receive a team of experts to manage your
investment needs, not just one advisor.
How long does it take for a 401k rollover?
The time it takes to rollover a 401k depends on how quickly your
custodian honors your rollover request. The request for a transfer
of assets will be sent without delay to the custodians of your existing
IRAs and/or other retirement accounts that you select. Be mindful
that some custodians require that you fill out their own forms or
that you call them directly before they will process your rollover.
Together, we can call your previous employer or custodian to find
out how long it will normally takes them to process a transfer/rollover
request.
Source: McKinsey Report - Talkin' 'bout my
generation: The economic impact of aging U.S. Baby Boomers
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