Also in this playlist...
This transcript is automatically generated
I'm here with two special that's bill watch it and -- CEO of accelerated well and Chris have been that principal at accelerating while.
We're going to be talking about retirement planning today and obviously you know we all hope that we can put away a lot in our borrowing K and we tried it.
Do everything right following traditional strategies.
But you guys are saying that the traditional strategies may not actually pay not -- -- sabotaging our -- Correct and I think our our the first thing that -- -- we have to see is is that.
Everyone's goals of reaching success are pretty common people want to retired a certain time.
They want to retire with enough to so that they don't outlive.
-- retirement assets they want to put their children through college when he retired they want to be able to give more to their church or charity.
Right the only one out of a hundred Americans are actually retired green.
Reaching those success points to the question comes in is why is it that they're not hitting that and we find that.
If you take a look at the typical strategies that they're used seeing.
The strategies themselves are not helping them reach their goals in most cases refine their they're sabotaging.
So why is this happening and how can me.
Figure out the best way to do it especially when you're -- A point where you -- and saving for awhile and you may be facing up to that deadline -- retire that's a huge thing.
You know most people what we find they're using an outdated strategy that was developed back in the 1950s and nineteen so I -- you know which was called the modern.
Theory -- portfolio management the interesting thing.
Is it's not very modern and it's only a theory.
And it worked very very well for about forty years from 1960 to about 1999.
And then we saw the major market crash with a tech bubble in 20020012002.
And we -- again in 20082009.
Were people lost almost up to forty some 50% of their entire life savings.
And what we're finding is there are three different seasons for financial planning.
And most people they failed this is the biggest thing they fail to make the transition when they go from that accumulation stage they've been in for maybe thirty or forty years.
They have that money that they saved up and then they hit 2008 -- 2009 and they failed to transition their strategy and that losing thirty or 40% maybe 50%.
In a matter of months what took them forty years to say.
Well you guys have sending new -- necessary steps right.
So let's go through them -- first you identified the wealth strains would be -- your financial picture.
Yeah exactly how meaningless you know.
As a business owner you can use a business center for example -- -- very good at creating -- And now but at the end of the day you find major drains.
Taxes coming out -- paying for employee benefits they're they're trying to create a retirement with their 401K plan.
But so much of these -- fees and drains.
Are there put -- in pretty fast they're doing well there but it's getting drained out so the question the first approaches.
-- you have to identify the drinks for your business for your retirement identify those.
Plugged those with proper strategies so whether it be re identifying -- qualified plans their use.
When their tax strategies are tax plans.
All of that's very important for them first identify those and then really you've got -- -- take an honest look at it a lot of times we get married to ideas and strategies.
And we just like holding onto -- -- with everything we're facing in today's market timing we can no longer do that we have to take a look at those strains identified.
And bring solutions.
Do you identify those strains on your own or you need to bring someone in our look at some special strategy in the end by a book or consult on line -- -- It's -- you make it sound so easy -- I don't know that it.
It's because we do it every day and most people they don't have time they don't know what to look for.
But you know probably some of the biggest strains we call them retirement killers.
These are the things that can really put a hole in your -- and just really sink of retirement and make that dream disappear never want.
Is going to be market loss you know losing thirty or 40% when -- in what we call that retirement hazards on.
That is that zero would say zero to thirteen years away from retirement.
If you don't make a transition there and you lose thirty or 40%.
You may take five to ten years to get back to where you work and you've never reach your comfortable retirement goals of -- -- so that's number one is are you protecting.
What you have as you get close retiring their strategies to do that.
There's there's a lot of other things but another one is what happens if.
Is what we find her most people their retirement.
Portfolio does not perform as a retirement portfolio it's -- failing in what it needs to do to really address the major things that can destroy your retirement.
So it sound like somebody saying that you're asking are the hard questions and that's -- -- right after the difficult questions I didn't any other difficult questions that we need to be aware.
Well one of that one of the teasing Chris touched on that is if you could really identify.
Cost it would be do you.
If you did not transition.
At the right time fewer in as Chris said the retirement hazards and that zero to twelve your window.
And you experience a 3540%.
Loss what is the true cost of that that's a hard question.
And we have to be faced with the realities of that so that you then can embrace is it time for me to change is it time for me to make a looking you asked earlier.
Is -- something someone can do on their -- You know most Americans when they get their statements in their reports and -- that he kind of just.
You know kind of just go there looking at the bottom line -- yet they look at the bottom line and move on.
Here's what it's hard for them to determine what are all the inner fees and costs and is this strategy.
Something that -- -- -- -- -- -- getting to to my point of success -- -- -- get -- it.
If you know what we find this.
Well I actually have one final question for you -- it.
Talking is about you put at a book that I -- -- trying to help people get through this process tell us about that.
You know what we talk about in the book is that -- secrets that are really revolutionized and make -- revolutionize America's retirement.
So many people are getting closer and closer retirement especially this baby boomer generation.
And they have a portfolio but they don't know how long is that hopefully gonna last and.
Is it possible that I might run out of money those -- the number one questions -- asking -- I -- I think it's totally valid here and and how much income is this point hopefully gonna produce and how Long Will that income last.
And if you don't know that question.
You need to sit down with somebody that can really plan that happened that that's what we consider -- clients.
We help them actually build a plan to give them confidence.
-- -- really retirement confidence in the world that's so when certain.
Well thank you very nice there's more on foxbusiness.com.
In an article that will be up later today definitely check that out.
Thank you both for being there really she's made it.
Filter by section