The Roadmap to Wealth and Independence with Peace of Mind
Guy McCord, a sixth generation Texan is based in the Dallas/Ft. Worth area. His son Andrew, a senior at Highland Park High School, plans to attend Texas A&M University in the Fall of 2024 to be a third generation Aggie.
Growing up in Plano, Texas, his grandparents were his heroes. One of his grandfathers fought in Germany and received a Purple Heart. His other grandfather was a West Texas Rancher and worked for 37 years as a rural mail carrier in Callahan County.
Ph.d. Wharton, and Presidential Economic Advisor
“There’s a big difference between wealth and income.
Knowing I have a million dollars doesn’t tell me the lifestyle I can enjoy from that million. What we care about is the lifestyle.
So you can forget fund values, income is all that matters. Just knowing how much money you have doesn’t tell you how you can live. You need to know how much you can buy.
The primary concern of the saver remains, what it always has been: Will I have sufficient income in retirement to live comfortably?”
6 RETIREMENT RISKS
An untimely death or accident can create additional stress and financial pressure on our closest loved ones if we don’t plan ahead.
A single 20% or 30% market crash can not only hurt your account balances, but it can cause you to run out of money years sooner.
CPA and Tax Expert Ed Slott says “Taxes are a larger risk than market crashes.” If you have all your retirement income in qualified plans like IRAs and 401(k)s that require you to pay taxes when you take the money out, you have a huge tax liability.
Statistics show that long term health care costs can be the largest expense in retirement. What have you done to protect your nest egg and your family from being hammered by this expense?
Will your nest egg provide enough income to give you the retirement you want, for as long as you live? Most people have no idea.
Longevity is the great RISK MULTIPLIER. Do you know how long you will live? Hopefully a long prosperous life. Longer life spans multiply the likelihood of each of these risks happening to you.