Do you have a plan?
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MONEY MATTERS
ost all of us do an excellent reputable software to help to compile all job planning for days these data points into a percentage of off from work, going on success. vacations and spending time Taking this a step further, you may with family. If you are a business owner, have all the necessary ingredients for you most likely have some type of business a successful plan but not have the plan. This plan evolves as business experience in how to put it all together. needs change, but in the end the plan For example, at what age should you take is a guiding force for how the business Social Security? Should you defer it until operates and how it is sustainable. age 70 and miss out on the previous years’ When it comes to retirement though, a income with which you were eligible? lot of people don’t have a plan. A well thought out plan will show Why? this and can also show what your breakHonestly, I’m not sure exactly why this even point would be for delaying Social happens. Maybe it is due to sacrifices Security. Would an annuity be beneficial Lee Williams made early in life or families not being on or not? An annuity might not work for the same page with their goals and money. everyone. Sometimes an annuity can Either way, it’s an unforced error. If you think about it, decrease the likelihood of success and vice versa. retirement is nothing more than a large liability, and Annuities could be an integral part of a long-term unforced errors can be costly. As an advisor, my job is retirement strategy, providing direction to overcome to help clients become aware of this liability and how risks and important optimal benefits to help protect best to plan for it to increase their chances for success. someone’s financial future. What does a plan entail? The point is that there are many variables, A thorough financial plan is more of a guide rail. and oftentimes, the thought of retirement seems It isn’t an exact science and has a bit of an art to it. wonderful, but the planning for it is intimidating. This concept is similar to how bumpers are used for An advisor’s role is not only to help you climb the beginners learning how to bowl. In a comprehensive mountain, but also, more importantly, to bring you plan, all details are accounted for, such as Social back down the mountain. Through the use of a well Security, pensions, IRAs/retirement plans, needs, thought out and designed plan, the efficiency of the wants and wishes. tools you have can be maximized, with the process Ideally, the client should design the plan, and the simplified, which increases the likelihood for success advisor’s role is to figure out how much of what the and an enjoyable retirement. client desires can be realistically implemented, along with the cost. Is the cost being properly saved for, and ~ Lee Williams offers products and services through is it being saved in the most efficient places based Nowlin and Associates. He also offers securities on time horizon and risk tolerance? If you are in or and investment advisory services through Ameritas nearing retirement, how should you best allocate your Investment Corp. (member FINRA/SIPC), which is not funds? When you factor in all these data points, what affiliated with Nowlin and Associates. Contact him at is your likelihood of success? For most people, this is 334-703-3454 or lee@nowlinwm.com. an unknown unless you put a plan in place and utilize 20 Lake Martin Living
