The Story of Two Retirees

“Retire Once. Retire Right. Live Your Life,” in one sentence that is the goal of the Secure Wealth Planning Group. In a recent interview our founder Richard Ehrlich shared the following stories, these stories highlight the Secure Wealth Planning Groups commitment.

One story is from a prospective client who for the sake of this story we’ll call “Bob.” Bob called Richard from his boat in the Keys, Bob had invested too much of his retirement money in stocks and mutual funds. Bob was trying to relax out on the ocean, but instead was having a practical heart attack because of the crazy recent fluctuations in the stock market.

The second story Richard shared was of a frantic call from woman who had trusted Ehrlich to put the $250,000 she had accumulated in her IRA account into a product that was principal protected – meaning what you get is what you keep.

She called him in a panic in October, 2008, a few weeks after the crash that brought on the Great Recession, freaking out that she had just lost all her money. “What am I going to do?” she asked in tears. Richard quickly calmed her down and explained to her that her investment were in fact safe. “You haven’t lost a penny.” There was dead silence – then tears of happiness.

The essential message behind “Playchecks for Life” is a rhetorical question:You didn’t work your whole career or sell your business to get to this point, only to just pay your bills in retirement, did you?

There are two elements of a successful retirement:

1) Making sure you have a guaranteed paycheck that will pay your bills. Because if you can’t pay your bills with that pension or Social Security check you get, that’s going to be a problem.

2) How do you define the kind of retirement you want? Do you want to travel, take cruises, go around the world and have the freedom to go anywhere at any time? Do you want to do volunteer work at home or in a country whose people are in need?

The biggest issue is, how do people of retirement age live off their money? The good news is everyone is living longer – but if they do not plan properly, their retirement golden years may be less golden than expected. A dependable paycheck, a steady income you can rely on for your retirement may help alleviate those fears and help you prepare for the future.

The Secure Wealth Planning Group creates customized portfolios to ensure that their clients have money when they need it and – perhaps the most important principle — never outlive their retirement.

Questions? Richard Ehrlich is an investment advisor representative and a fiduciary. Call (561) 340-2667 or click here to schedule a no obligation initial consultation.