IFL Radio - Why It Matters

What does a cat named Orlando and a bunch of monkeys kidnapped from a local zoo have to do with stock-picking skills?  You might be shocked.

Listen to our radio podcast titled IFL Radio - Why It Matters to find out.  You simply cannot make this stuff up...


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

IFL Radio - The Federal Reserve

Listen to our podcast discussing our thoughts on the Federal Reserve.  

What is going on?  Why did Bernanke leave his post - and what is Janet Yellen's primary goal?

Our thoughts are here, so take a listen!


Matt Nelson, president and host of Income For Life Radio
877-284-8929 Toll Free
www.IncomeForLife.org

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