Achieving a secure and carefree retirement
What does the Ritz Carlton of wealth management mean to you?
Interest rates have risen 17 times since June 2004.
The stock market is as volatile as ever. The United States has
been at war in Iraq and Afghanistan since the attacks of Sept.
11, 2001. Iran and North Korea are in the news almost daily. The
Middle East is in upheaval again and the real estate market is
slowing down. So how can you achieve a secure and carefree retirement
that accounts for the treacherous world we live in?
Take-aways
• In Demand a modern jumbo jet type of a retirement
planning process from your adviser.
• Your retirement plan should account for major predictable
life and world events.
• It's your money and your retirement; you owe it
to your family to ensure a safe arrival at your final retire-ment
destination. |
Wealth managers have a fiduciary duty to develop
and offer clients a better mousetrap. So about two years ago we
embarked on a mission. The goal was to prepare clients for a secure
and carefree retirement, one that takes into account predictable
recurring events such as wars, depressions, recessions, inflationary
economies and baby booms as well as periods of economic expansion
and growth.
As a result, we stopped using traditional financial
plans, which are almost sure to lead to financial disasters since
they are based on faulty assumptions. We replaced them with an
honest, high-confidence retirement planning process that minimizes
taxes, expenses and uncertainty while maximizing income, performance
and goal attainment.
Simply put, traditional planning assumes a set rate
of return, a set rate of inflation and a set rate of spending
for the rest of your life.
When was the last time the markets went up at exactly
the same rate year after year, inflation was exactly the same
year after year and your income needs were exactly the same year
after year? Assuming this will happen obviously leads to false
projections. No wonder people's financial lives are constantly
devastated with traditional planning.
World events and financial market changes are recurring
and therefore predictable, but traditional planning fails to account
for them. It is the equivalent of the Wright brothers' first flight
compared with a modern jumbo jet flight. While the Wright brothers
were happy to get off the ground, today's jumbo jets and their
captains make literally thousands of checks, calculations and
recalculations on every flight to ensure a safe and carefree arrival.
Flying with the Wright brothers would have been
exciting but exciting isn't what we look for in our clients' retirement
planning. Our process accounts for literally a thousand lifetime
scenarios based on taxes, fees, beneficiaries, desired lifestyle,
wars, depressions, recessions, as well as bear and bull markets.In
a treacherous world
In addition, we can run "what if " scenarios
and tell clients if we have an 80 percent confidence level in
exceeding their goals or a 30 percent confidence level. Anything
less than 75 percent confidence is not acceptable.
This planning process is a customized series of
consultations. These discussions are unique to each family. Once
a family vision emerges with goals prioritized, they are put to
the test against the volatile world we live in.
We create a road map for retirement illustrating
where the client is, what the destination looks like and the challenges
to face in reaching that destination. Even jumbo jets need constant
recalculation; the same applies to a retirement planning process.
We continually update and re-adjust to ensure a safe and carefree
arrival at your destination.
Christopher G. Snyder and Haitham "Hutch"
E. Ashoo are principals of Pillar Financial Services in Walnut
Creek. Contact them at 925-356-6780.
DOWNLOAD
A PDF VERSION »
|
