"I want everyone to know why I chose to start a retirement business. Quite simply, I genuinely want to help people with their retirement. I want to take the time, and put in the hard work, to make a positive difference in my client's life."
-Mark Gillett, CRPC
SET Founder and CEO
Saving money for retirement is the first of three building blocks to a successful retirement plan. Additionally, there are some Income Products that actually help contribute to your savings.
There are many options for receiving earnings on the retirement savings. So the options best for you depend upon your risk tolerance and your desired level of ongoing participation.
As good citizens, we must all pay taxes. But, as smart citizens, we should utilize special provisions within the tax law. As a result, we get to keep more of our retirement savings and earnings.
Why Plan for Retirement?
There is a good story that illustrates why everyone should have a plan for retirement. It goes something like this:
There was a married couple taking a drive to a vacation resort in their brand new sports car. As they got within 100 miles of the resort, they realized that they were running low on gas. Their gas gauge said 100 miles until empty. To conserve gas, they slowed down and turned off the A/C. They then continued on cautiously. They kept their eyes on the gas gauge and the road mile markers to constantly make sure they would reach their destination before running out of gas.
Upon checking in at the resort, the receptionist asked the couple if they had enjoyed the ride they had taken. The couple explained the gas situation, and how it did not allow them to focus on anything else but the gas gauge and the road mile markers. The couple then inquired as to why the receptionist asked her question. The receptionist told them that the last 100 miles of their ride was considered to be the most beautiful stretch of road in all of the United States.
Having a good retirement plan in place means you can fully enjoy the ride of your retirement, without worrying about running out of money before the ride has ended.
What's in a Retirement Financial Plan?
A retirement financial plan has at least five recommended key elements. They appear below with a brief description (give us a call if you would like further details). To remember them, when you make a retirement financial plan, make "a wish".
(A)nnuity Product - Insurance contract providing retirement income, which can protect against out-living your retirement funds.
(W)ealth Management - Growth of retirement savings through investments in stocks, bonds, etc. primarily before retirement.
(I)UL Product - Life insurance that grows a cash value, which can be borrowed tax-free (and not paid back) as retirement income.
(S)ocial Security - A retirement program controlled by the U.S. government, which uses an income tax collected over 35 years.
(H)ealth Insurance - Medical, dental, vision/hearing, and extended care insurance for retirees and those with special needs.
As part of the free financial planning, one of the products SET offers to our clients is the preparation of a detailed Retirement Financial Plan (RFP) report. For an example report outline, click on this link for a sample Retirement Financial Plan Report.
You Need a Plan Yesterday!
One of the reasons why many people put off planning for their retirement is that they are overwhelmed. First of all, there are so many financial options available. Also, the total number of companies offering those options is numerous. Wouldn't it be better if people could talk with experienced professionals that would listen and help select the options and companies best suited? SET Retirement Planning Solutions does exactly this.
Everyone has a different view of retirement. We talk with our clients to understand their retirement time frame, work status, financial goals, etc. Additionally, if they already have a plan, we review it with them, and then suggest any changes to better achieve their view of retirement.
Although it is never too late to create your retirement plan, the sooner you have a plan, the longer you have to execute it. Having your plan in place by at least age 55 is important because some very good Income Products for retirement income have a 12-year maturity period. However, if you are over 55? No problem. Many options are also available for you. Whatever your age, let us help you with your retirement plan.
Once you "SET" your retirement plan, you need only picture yourself on a beach living out your retirement dream.
5-Step Process to a Retirement Financial Plan
SET utilizes a simple 5-step process to develop a detailed Retirement Financial Plan for our clients. A powerful online retirement planning platform developed by RightCapital is key to the plan development. Specifically, this secure platform is the repository for all client information and provides a wealth of retirement tools and functionality. Moreover, each client has a user login to upload data, follow plan development, try "what-if" scenarios, and track future progress of their Retirement Financial Plan.
It's Time to Get Ready... Get SET!
We provide free retirement planning help with no fees and no obligation to buy anything. So what do you have to lose?