Income For Life Radio is now LIVE!

PRESS RELEASE!  Income For Life has launched its own radio show titled Income For Life Radio on 106.9FM KTPK every Sunday from 11:30am to noon CST!

We will discuss all things retirement and retirement income planning with featured guests from across the nation - and will provide 'common sense' retirement discussions without the financial jargon.

If you are 'not in Kansas anymore' - no problem!  You can listen to our podcasts on our new fan page on Facebook at www.Facebook.com/IFLRadio.  Simply 'Like Us' and you can have access to every show.

Lastly, if you would like to submit a question to us, email it to AskMatt@IFLRadio.com and we will do our best to answer it on the air.

Check it out and listen in!


Matt Nelson, president of Income For Life LLC and host of Income For Life Radio
877-284-8929 toll free
www.IncomeForLife.org

Retirement Income.  Simplified.

Family Practice vs Specialist - A Medical Approach To Retirement

My wife is a very successful Registered Nurse specializing in Labor & Delivery of nearly seventeen years.  To say she has 'been there, done that' in her field is an understatement and she has had the opportunity to work with some of the top medical minds in the nation during her current tenure.

She came to me today and described how different a Family Practice physician is compared to a specialist, such as a Neuroligist, an ObGyn or a Cardiologist.  All are 'doctors' in the sense that they each have a medical degree, but their expertise cannot be more different.

This got me thinking:  It sounds very similar to the differences between an average stock broker and a retirement income planner.  Both have similar licenses and credentials, but their expertise cannot be more different at times.

The average stock broker is similar to the Family Practice doctor.  Their job is to do their best, given their capacities, and then determine if a referral to a specialist is needed or not.  If the condition being treated is out of the ability of the Family Practice doctor, they then send the patient to a specialist in that particular medical area.  

This is exactly what happens in the retirement world, as well.  There is no 'crystal ball' when it comes to picking stocks and it has even been determined by many third-party media studies - such as Forbes, Wall Street Journal and others - that animals (monkeys & cats, to be specific) are better stock-pickers than the average human stock broker.  Sad, but true.  The studies are enlightening, to say the least.  Accumulating assets can be based on best-case guesses, but retirement income planning must be based on facts.

The Retirement Income Planner is similar to the specialist.  Their job is to offer specific expertise that provide exact outcomes.  Retirement Income Planners cannot 'hope for the best' and then refer a person on to someone else that can do the job better.  Retirement Income Planners must provide contractual guarantees, they must consider inflation costs, they must take into account possible medical events that can hinder a retirement account and they must make sure the retirees have a steady, guaranteed income stream for life - and it all must be guaranteed for an entire retirement plan which could be 20-30 years.

That is hard work.  That is a specialist.  That is what we do at Income For Life LLC.  Contact our office today to learn more.


Matt Nelson, president and host of Income For Life Radio
Income For Life LLC
877-284-8929 toll free
www.IncomeForLife.org

The Cost Of Waiting

If you are in retirement or near retirement, there is an internal clock that begins at around the age of 50.  It is called The Cost of Waiting.

What this term means is simple:  What dollar amount are you willing to lose before you make a decision and if there was indeed something better for you, when would you like to know about it?

Now, this sounds like a no-brainer.  The typical answer is NONE and RIGHT NOW.  No one wants to lose money - especially in their retirement accounts at the exact time they need the money to live on - and everyone wants a better opportunity as soon as possible once they find it.

Unfortunately, this typically does not happen.  With all the information being thrown at retirees, it is difficult to determine what is good for you and what is bad for you, so you stay put.  You don't want to make a bad decision, so you stay right where you are because the emotional hassle and pressure to make a decision on something new is difficult, so you say "We are going to wait a while before we do anything."  

Tick, Tick, Tick…your cost of waiting clock has officially begun.

Sound familiar?  We all do this at times and it is usually with a big decision, such as a car, home or some other large purchase where there are multiple people offering you multiple choices - and each one is telling you the other one is wrong and they are right.  So, you wait - and this is when your Cost of Waiting clock begins.

We advise our clients to take the emotions out of your mind and look at retirement as numbers - because numbers do not lie.  Trust the numbers - as opposed to the person in front of you selling you a 'guess'.  Go back and look at the market crashes of both 2002 and 2008 and ask yourself:

• Do I want to wait for this to happen again - or do I make adjustments now while I still can?
• Is my top goal to NEVER run out of money in retirement or is it to stay in the markets for the possible gains - but have my money at risk?
• Can I survive another 2002 or 2008 - right at the time I need the money the most?

Your clock is ticking.  Call us today to learn more about The Cost of Waiting.

Matt Nelson, president

Income For Life LLC

877-284-8929 toll free

www.IncomeForLife.org

The Goal Of Retirement - The Kindergarten Rules

I am a firm believer that all of life's important things were learned when we were in kindergarten.  

Think about that for a minute:  Isn't it true?  Not only did we begin to learn the basics of education, but we also began to learn how to rationalize.  We learned how to share.  We learned how to communicate properly.  We began to learn a bit about 'common sense'.  This all began in kindergarten.

We also often tell each other:  "If you want an honest answer to a question, go ask a child."  Agreed?  I can think of many times this has been proven to be true with my own kids.  Some are a bit embarrassing, but all were true.

So, I did.  I asked a six year old what he thought retirement is.

His answer:  "That is when you don't work anymore, just like grandma and grandpa."

"You are correct", I said, "But what happens if you run out of money?"

He thought for a second and answered:  "Then you are not retired anymore."

Good answer.  Very good answer.

I then asked him, "Do you think it is important to always have money when you retire?"

His answer:  "DUH!", as he rolled his eyes at me.

It must be nice to not have to hassle with the emotional side of decision-making and simply look at something for what it is - even at age six.  

Wouldn't it be nice if adults could do this, too?  Then again, why don't we, even when the answer is so simple?

If you want to STAY retired, you have to have a retirement plan that keeps paying you a paycheck for the rest of your life.  If you do not have this, then you are -according to a kindergarten child - planning to go back to work someday and just might end up with your own "DUH!" moment.

Let us show you how to STAY retired today and keep you away from "DUH!".

Matt Nelson, president

Income For Life LLC

877-284-8929 toll free

www.IncomeForLife.org

Hope So vs Know So

What does it take to be confident in retirement?  Will your nest egg last?  Is it enough?  What about an unforseen event popping up?  Will you have enough for the extra things, such as grandkids, travel and relaxation?

It is all about 'Hope So' vs 'Know So'.  Here is the difference between the two:

• Hope So:  You have no true plan for retirement.  You are hoping that things go your way and you are at the mercy of others.  You have no control over what happens and you have no guarantees.  You are hopeful, but not truly confident.
• Know So:  You have a guaranteed plan for retirement.  You are in control.  You have an income that lasts as long as you do.  You have a plan that is in writing that is contractually guaranteed.  You have the peace of mind of knowing that your retirement income will always be there for you - no matter what.

Now, if you had a choice:  Which would you choose?  It is pretty obvious.  Call our office to learn how to switch from 'Hope So' to 'Know So'.  Consultations are free of charge and can be handled over the phone.

Matt Nelson, president

Income For Life LLC

877-284-8929 toll free

www.IncomeForLife.org

Bicycle Tires vs Truck Tires - An Annuity Comparison

Picture this:  You are a truck driver, sitting at a coffee shop having a discussion with someone that tells you - with a straight face - that you should not purchase tires for your truck because all tires explode.

Let that sink in for a minute.  Do truck tires explode?  Sometimes.  I have driven down the highway many, many times and I see tire pieces on the road from when one did indeed explode - and I have been driving next to a truck when one blew out, sending tire 'shrapnel' across the highway in large, rubber pieces.  

Now, do we all still have tires on our vehicles right now, knowing that they could explode?  Yes.  Of course.  I do.  So do you.  But, according to your coffee discussion, you should not have tires on your truck because they explode.  Ridiculous, right?

As you continue your talk over coffee with your new friend, you soon realize that this person is basing his assumptions on bicycle tires for why you shouldn't have tires on your truck - and his reasons for this conclusion is because he is of the view that all tires are the same because they all are made of rubber, they all travel down the road and they all hold air in them.  
HUH?!  What?!  Really?!  You politely finish your coffee and leave - hoping this person doesn't follow you outside because he has to be crazy.  This person's logic makes sense on a basic level (tires are indeed made of rubber, they hold air and they can explode) but his belief of 'they are all the same' is nuts.  How could anyone use that thought process - and why on Earth would anyone listen to him?

Annuity products are no different - and unfortunately most are indeed listening.  Annuity plans come in all shapes and sizes - to the tune of nearly 300,000 choices across the nation today - just like tires do.  Unfortunately, there are some 'crazy coffee shop people' out there that will continually do their best to lump annuities into one category instead of distinguishing the different types - and these people happen to have deep enough pockets to spend millions of dollars on the crazy idea that all annuity products are the same - and most believe it.  

Here is an example of marketing bias:  I am of the belief that if enough money was spent on a marketing idea for a particular steel hammer that, upon accidentally hitting your thumb, it would not hurt - there would be people out there that would think it is true and would purchase the hammer.  

Why?  Because they saw it on TV, heard it on the radio - so it must be true.  Sad, but very true.  Think about it for a bit.  You know this is correct.  Throw enough money at a particular idea and you could sell 'steel hammers that won't hurt your thumb when you hit it!' - and people would buy it.  UGH... 

When it comes to retirement planning, these type of people have a name:  They are called WALL STREET.  Sadly, there are certain Wall Street folks that are constantly trying to tell you that 'bicycle tires' are the same as 'truck tires' - and they have the marketing money to sell this ridiculous thought to you.

Why does Wall Street insist on lumping all annuities together into one category?  The reasons are very simple.  Call my office to find out and you will be shocked at the outcomes - because it is just as ridiculous as comparing bicycle tires with truck tires.

Matt Nelson, president

Income For Life LLC

877-284-8929 toll free

www.IncomeForLife.org  

Reactive vs Proactive - A Retirement Planning View

What does it mean to be "reactive", compared to "proactive" in retirement planning?

The word “reactive” implies that you don’t have the initiative. You let the events set the agenda. You’re tossed and turned, so to speak, by the tides of life. Each new wave catches you by surprise. Huffing and puffing, you scramble to react to it in order to just stay afloat.

In contrast, the image we associate with “proactive” is one of grace under stress. To stay with the previous analogy, let’s say you’re in choppy waters. Now, you look more at ease. It’s not just that you anticipate the waves. You’re in tune with them. You’re not desperately trying to escape them; you’re dancing with them.

It would be great to dance with the rhythm of life, using the ebb and flow of events as a source of energy. But is this only possible to those people who are endowed with a proactive attitude (or, maybe, a “proactive gene”)?

I believe that being proactive is not a mysterious quality that we have, or don’t have. It is a way of dealing with things, that we can develop and strengthen.

So how does this apply to retirement planning, you ask?  EVERYTHING.  So many times I meet with a retiree that is 'reactive', meaning they only make their retirement planning decisions based on past events - and then try their best to react to them.

Why is this?  Because typically that is how their advice is coming to them from their current adviser:  reacting to past events, thinking the future can be controlled.

Why do this?  Being reactive is saying "I am at the mercy of my surroundings", while being proactive is saying "I control my own destiny."  

At Income For Life, my team takes the proactive approach.  We do not sit around and hope that good things will happen - we make it happen so your retirement destiny is YOURS.

Matt Nelson, president

Income For Life LLC

877.282.8929 toll free

www.IncomeForLife.org