There are 4 things that people aren’t talking about while you’re in retirement that you should be aware of. In this episode, Troy Sharpe, CFP®, reviews those 4 things that people don’t tell you about retirement.
With the Oak Harvest Retirement plan, we take into account those things that are rarely discussed when going into retirement.
Your Oak Harvest retirement plan is a customized solution aimed squarely at your retirement needs.
No two plans are exactly alike. We tailor investments, income, tax-reduction, safety, long-term care and legacy solutions around your retirement vision and goals.
Instead of trying to fit you into a box, Oak Harvest builds the box around you.
It starts with a discussion about your retirement vision. A retirement vision is the most critical element of a Oak Harvest retirement plan because it allows us to clearly identify specific goals, allowing our team to get to the root of what is important to you.
Once those goals are identified, we explore and educate you on the strategies that can make your vision your reality.
When the appropriate strategies are agreed upon, it’s time to discuss which tools are appropriate to complete the plan. Stocks, bonds, CDs, annuities and mutual funds are nothing more than financial tools that can be used inside your Oak Harvest Retirement Plan to accomplish your vision and goals.
As independent fiduciaries, we don’t care which tools are used. We care only that the best tools to accomplish the job are implemented.
When your Oak Harvest retirement plan is complete, you have a clear financial path that can help provide peace of mind. We will build each component that you may need for your specific circumstance:
-You will have in front of you a simple, easy-to-understand Retirement Income Plan.
-You will have an investment strategy appropriately fitting your investment objectives and risk profile.
-You will have a Social Security strategy that’s designed to maximize your life savings, not just your Social Security benefits.
-You will have a long-term care strategy that’s designed to maximize and protect your retirement against future medical costs.
Your legacy desires will be addressed by a CERTIFIED FINANCIAL PLANNER™ professional who coordinates and works with attorneys who draft the appropriate legal tools, if needed.
Once complete, your Oak Harvest Retirement Plan flows into a monitoring process where adjustments can be made when the investment, tax or legal landscape change. It’s reviewed frequently with you by your dedicated team, which includes your advisor, the investment team, and our services team.
Do you have a retirement plan that goes beyond allocating funds to truly fit your needs? We can help you create a retirement life plan customized for your retirement vision and legacy. Call us at (877) 404-0177
If you have $500K or more and would like a partnership with a firm to help you manage your investments and financial plan as in these videos, click on this link to connect with our advisors:
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Very helpful presentation.
The earlier you retire the longer you live.
Wait until 70 to begin collecting your federal welfare, SS, check. You'll feel much better about yourself each month.
Unfortunately again this is about usa
What I did not like about several local "Financial Planners" I have interviewed is they farm out the different crucial areas of a "Total Retirement Plan". The Investments area was usually handled by them, BUT… The Tax Plan area was to be handled by the "Team CPA", The Estate Plan was to be handled by "Team Lawyer" etc. etc.. There was a single fee based on total Money Under Mgt… BUT also involved fees by the CPA and Lawyers that were not "Normally" included under the single M.U.M. fee. Does OHFG operate differently?
The four retirement changes are: joint tax filing to single person tax filing; loss or reduction of social security income upon death of a spouse; tax affect of a Roth IRA conversion; psychological shift from saving to spending your retirement income; the affect of tax free interest on Medicare premiums; and spending more time with your spouse. The bonus point is to be happy in retirement.
Glad to see you talking about people with a net worth of 2 to 3 million or more. Most of these financial planning channels seems to be speaking to much lower income and net worth individuals and for me are useless to listen to. Lets face it, lower income/net worth folks options are much more limited to gain savings and easier to plan for. Higher net worth and income individuals in retirement is where real saving are gained with good planning.
Having income other than social security is critical in retirement, downsizing helps but developing multiple income streams creates a much better safety net. Unfortunately Having a decent retirement is like winning the lottery these days with fewer employers giving any kind of retirement plan. I used to pray that someday I would retire and do the things everyone says you should do I guess my prayers were answered because after years of hardship we are living off our investments. Now I pray that our health holds up long enough to enjoy it.
I’ve watched a few Oak Harvest videos but this one has made me question their methods! Very misleading from the very beginning, it assumes and does not clearly communicate the starting parameters which are “Critical” in any analysis. He skips over critical information to focus on a death of a spouse within the first 2 minutes? More time should have been put into the beginning criteria but its appears this video has an agenda. Clearly this portfolio has a strong start but this focuses a VERY specific scenario which seems to be fear based. There are other choices within YouTube with more transparent, less fear based methods!
Great video! Thanks!
I'm single!
Freeze Panes in Excel helps in keeping the column headers visible.
I like how he assumes everyone is married. In fact, 45% of 60-year-olds are single.
Another incorrect assumption is that no one who is retired is a net saver. Some retirees do continue to save.
I didn’t see a solution to the loss of a spouse filing then as single. How can you make up that loss of income to higher taxes?
No one can plan ahead on when they die. So if you didn’t have a Roth BEFORE retirement your screwed?
One has to remember too, that after your spouse is gone so are the expenses they also occurred like food & medical. So there is an offset to consider also in the single tax bracket that lessens the impact.
Reality the Dollar will retire before I retire.
V nice Troy. Love u too our videos.
The single filer tax impact is substantial depending upon surviving spouse lifespan. Useful info.
Just o nce, someone discuss wife much older (17) years than husband. Disc uss that scenario. She is retired and he is not !!!
Head spinning. Ouch!
Might be good information but presentation was to dull to finish.
Eye opening to the change of filling status during the loss of a spouse! Thank you for the continued insight!
Folks! You better have $3 million if you are retiring in 10 years at 65. That is min!! Otherwise look for dogfood, cheap McDonalds, and $300 a month apartment. Dr bills and meds will rip you apart
single people get hosed there whole lives.
That the concept is a scam
My dad told me the only time you retire is when your dead and the way things are going I believe he was right
Thank you for your time but I have to leave, you keep repating yourself and not getting to the point
Troy provides sound advice and insight into the retirement challenges. I would say he is one of the best out their. You might want to show the effects of the Trump Tax cuts and how they will affect one's planning strategy when they expire. I have been doing ROTH conversions for a few years and now have almost half of my retirement in our ROTH accounts. If and when the market drops this year, I will do another transfer from our IRAs to the ROTH accounts. Keep up the great work!
You should have mentioned that just after you retire, especially if it is at or above the age of 65, it seems all the time you spent at work is now eaten up doctors visits, various medical tests and a variety of medical specialists. I swear doctors, hospitals etc. and the like their chops at the emergence of a retiree. Before you know it one goes from have a doctor to having an entire network of doctors most all of which prescribe medications for you to take independent of one another. I call this the medical merry-go-round or treadmill because once you are on or in it, it is almost impossible to get off or out of it.
If I were a conspiracist I'd surely think they are all in this to extract as much money as possible from the medical insurances (Medicare and affiliates) for their own benefit with the retirees as the vehicle or the entity in the middle.
I am right now trying to find out how to get off the treadmill or at least slow it down considerably. We, retirees, are the most over doctored, over medicated and over tested group in history.
That should be part of the discussion.
Wait… $59,000 in income and $41,000 in taxes? I think something’s wrong with those numbers!
I found out about the tax increase when I became a widow 13 years ago. It was much harder to live on what I made since my tax burden was so much higher. I wish the IRS gave widows a break and didn’t include us with all single people. Good video.
Great Summary!
Great video!!, Thank you!!,
Nice job. Really made me think especially regarding taxes
Nice video! Thanks