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Matt Nelson, president and host of Income For Life Radio
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 Boiling Frog Mentality

It has been said that if you place a frog into a pot of boiling water, it will immediately determine that the water is dangerous and will jump out.  But, if you place the same frog in a pot of room temperature water and gradually bring the water to a boil, the frog will not jump out and will eventually come to it's demise.

Unfortunately, I have met with many retirees or near-retirees that have the same mentality.  They have the large majority of their retirement nest egg invested in the stock markets and are at risk of 'boiling', but they do not jump out of the water - even when they know it is dangerous to stay there at this time in their lives.  Retirement time is not the time when you should stay in the water - whether it heats up or not.

Why is this?  There are several national studies that do their best to define the thought processes of those approaching retirement and the determinations for why retirees do not make the 'jump' to safety is:

1. Lack of Education
2. Fear of Change
3. Relationships

Simply put, retirees do not have the educational resources readily available to them and are often tugged & pulled in several different ways, so the fear of change becomes an overriding factor.  Some also feel that they will 'hurt the feelings' of their existing adviser of they move their accounts into a safer asset class - and are sometimes even expressed this by their adviser.

My thought is this:

1. Education is indeed available, but you have to know what to ask.
2. Change is inevitable.  You have to make the 'mental shift' from accumulation to distribution.
3. Relationships will not pay your bills or keep you afloat financially if the markets go bad and you lose your nest egg - and your adviser will not pay your bills for you - so you have to do what's best for you.  After all, is it your money, or your adviser's money?

Don't be the boiled frog.  Call our office to learn how to 'jump' to safety.

Matt Nelson, president

Income For Life LLC

877-284-8929 toll free

www.IncomeForLife.org

Risk vs Reward

When you were a child, did you ever own a skateboard - or did you know someone who did?  Did you ever try to ride one?  Did you fall?  I bet as a child, you could jump right back up and try it again, right?

Now, imagine you are close to retirement age.  Would you try to ride that same skateboard again?  I doubt it...I know I wouldn't.

Why?  Because the RISK is no longer worth the REWARD.

Your retirement income strategy is no different.  As people age, the risk of the stock market is not with the reward, so what do you do?  

The answer is simple:  Watch my video and call my team to learn more at 877-284-8929 toll free.


Matt Nelson, president
Income For Life LLC
877-284-8929 Toll Free
www.IncomeForLife.org