Listen-up… if you're not sure, you aren't alone!
I don't know if you know this or not, but according to the Social Security Administration 96% of Americans are not able to fund a retirement that will last for their lifetime...allowing them to live the lifestyle they wish to live! This is the case for highly compensated people as well as average wage earners.
Pretty scary stuff, when you think about it! Do you know why this is? Well, in our opinion, it's because people simply aren't given the proper knowledge of how to correctly handle their finances when they retire from the company, or when they change jobs! This is true, even though most retirees have accountants, lawyers, stockbrokers, company provided assistance, etc.!
It's frightening when you think about it, but your retirement doesn't leave much room for ANY mistakes. Right? I mean, this IS NOT A DRILL! This is your one shot at retirement, and you. Cannot Afford To Make ANY Mistakes! Period.
See, do you really know, (and I want you to be honest with yourself), EXACTLY how to make the RIGHT decisions on issues like:
• With the price of the stocks all over the place, how do you decide if you should sell some or wait? If you want to diversify, which shares should you sell? What about the tax consequences? Should you buy traded options to protect the price? How should you handle your company benefits? Do you know how to decide what to do with your stock, and stock options?
• Should you take a lump sum distribution? If so, how? What should you do with it? How much in cash, how much elsewhere? Who should be the new trustee or custodian? Will your retirement distribution money be subject to IRS penalties you've never heard of? Should you receive money now or wait until later?
• Are you protected from traps the IRS has set, as well as from other retirement financial disasters that can actually cause you to lose much more than the IRS ever could take?
• What would happen if someone became ill and needed long term nursing care? Who pays? How much? What if you don't have enough money? What does the government do?
• Do you know how to avoid having as much as half of your money being grabbed by the tax man?
• Are your assets titled in the absolute, most dangerous way? (Hint- Most retirees make this enormous mistake!) Have you set up a virtually bullet proof asset protection plan?
• What kind of insurance should you now have? Do you keep what you had, or change it? Are you going to be over insured and waste money on needless coverage? Do you know how to figure out which choices will best suit your family's new situation? And most important...
DO YOU KNOW IF YOU WILL BE LIKELY TO HAVE ENOUGH MONEY, AFTER TAXES, TO LIVE YOUR LIFE THE WAY YOU WISH TO...FOR AS LONG AS YOU LIVE?
Have you analyzed all the options and choices available to you so you can make educated decisions from a fully informed standpoint?
These are just a few of the questions you must have answers to! If you don't... you're likely to be the next victim of the greedy IRS, or to run out of money! If you make even one big mistake... look out! After all, you only retire once, so you cannot afford any mistakes! You must make the right decisions the first time!
These issues demonstrate how retirees are constantly at risk to see their retirement
security and peace of mind diminish, or disappear all together.
We wanted you to have an easy to understand set of facts, that cut right through all the baloney, and tell you the biggest mistakes retirees make...and more importantly, how to avoid them! We’ll break each of these points down in our upcoming articles.
Source: http://www.ArticlePros.com/author.php?John A. Jones
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