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    Accumulation VS. Preservation Strategies

    That was the choice of words by which President Obama’s lead his campaign. America was indeed ready for change but not the kind of change we have experienced and are yet to live through. As American’s you are on your own and the sooner you understand that the better off you will be.  The days of grandfather’s stock market, buy & hold strategies, lifetime pensions, high CD rates and good old American made are gone. 

    We are in a new economy, a global economy, an economy that you must be willing to acknowledge and change accordingly.  We must take a different approach, use a different set of strategies to whether retirement, and live our golden years, truly golden.    I have wrote this article to help you understand 3 simple things. 1) the state of the economy, 2) why retirees could be getting the wrong advice, 3) why change is necessary.    

    There is an old saying 
    “know when to get off a dead horse“. Know when your horse is dead and to get off of it before it falls over, “dismounting”, and get on a new horse to take you where you want to go.

    Your personal freedom is increasingly tied to your financial freedom.

    Surveys by the Employee Benefits Research Institute (EBRI) provide eye-opening data showing the vast majority of Americans have almost no savings.

    In 1982, the US savings rate was 12%, but for years now it has been effectively zero. As a consequence, only 14% of Americans feel confident they have saved enough to retire on.

    The extent of this looming disaster is seen in the fact that 42% of individuals age 45 years or older have less than $25,000 saved for retirement. Rather than planning for the future, the majority of people in the US and most Western economies have followed the Pied Piper of easy credit and mindless consumerism into a trap of lifelong servitude

    It gets much, much worse. That's because the Baby Boomers - a massive population bubble - are just now hitting retirement age, shifting the financial burden of a rapidly aging population onto the back of the already bankrupt government.

    Put another way, a downward spiral of government debt, currency debasement, higher taxes (at least for those people still paying taxes), and government interference in the economy is only just getting started.

    Anyone not paying attention or failing to deploy strategies to grow and protect their assets in a global economy headed for a progression of worsening crises is at very real risk of losing everything.

    While no one can say with certainty when the next shoe will drop - it could literally be any day.

    That makes it more important than ever to step back from your daily routine and update yourself on the hard realities of living in a new economy. That's the overarching purpose of the Casey Wealth Consultants to immerse ourselves in the latest research on the powerful economic, political, and investment trends rushing our way.

    Given the complexities of today's economic and investment challenges, even extremely experienced investors need help achieving the clarity needed for effective retirement planning.

    Meanwhile, the taxes required to cover all this social spending keep ratcheting higher: according to the Pulitzer Prize-winning fact-checking organization PolitiFact, since entering office President Barack Obama has proposed over 240 new tax hikes.

    As a consequence, we've already seen the top income tax bracket rise from 35% to 39.6%... the capital gains tax rise to 20% from 15%... the dividend tax also went from 15% to 20%... plus a new 3.8% tax on investment income has been levied. And from 0% in 2010, the estate tax is now 40%. Then there's literally dozens of new taxes and surcharges triggered by Obamacare.

    Rising taxes are far from only an American phenomenon: the poster child for what's coming is seen in the French decision to hike taxes to 75% on anyone earning over 1 million euros a year.

    Like deer in the headlights, most people will try to ignore the rising tide until it's too late.  Casey Wealth Consultants seek to educate our clients how they can have the right Financial Plan to navigate this turbulent economy.  At Casey Wealth Consultants we help our clients achieve success by having a complete plan in place: 1) Investment plan. 2) Income Plan, 3) Estate Plan, 4) Health Plan, 5) Tax Plan. Most retirees have no plan.  They have a Will, brokerage, and bank statements, maybe an annuity or two that was the result of a product sale (retail)

    There are 5 key things you need to know about investing at any age: 1) Safety 2) Liquidity 3) Risk/return 4) Income 5) Taxes

    Most likely you already know this about investing or you wouldn’t be at this stage of life and have a retirement savings.  What you don’t know is the connection between an Accumulation specialist and a Preservation/Distribution specialist and how their advice is different.   This difference could be leading you down a path of success or financial ruin unknowingly.      

    The Old Saying: “What you don’t know can’t hurt you.”  - Its False!  What you don’t know can kill you.

    **Accumulation specialist and Preservation/Distribution specialist look the same but are 180 degrees different!  They wear the same clothes, they work in nice offices, they send out birthday cards and Christmas cards, they build wonderful relationships with their clients. 
    Accumulation Specialist:

    Age 20-55
    You need an Accumulation specialist between the ages 20-55.   These are some of the services an Accumulation specialist will provide:

    Preservation/Distribution Specialist:

    Age 55-and up.
    You need the help of a Preservation/Distribution specialist to help you transition from working to retirement.  If you are in retirement and not working with a Preservation/Distribution specialist you need to heed a word of caution and get a check-up. A Preservation/Distribution specialist will:

    ****Here is the problem!  The Accumulation specialist is never going to tap you on the shoulder and tell you they got you to retirement and now it’s time for you to see a “Preservation/Distribution” specialist. 

    Why?   The accumulation specialist does not want to lose the retail fee your paying them.

    Said differently, The guy that got you to retirement may be the guy that blows up your retirement simply because he is not a retirement specialist.

    Accumulation specialists don’t care to know anything about Social Security, LTC, Medicaid, Medicare ABC&D, capital preservation, etc.  Their job is to grow money in the market.  You can’t be a specialist at both.  It is impossible to be really good at both.   You are either really good as an Accumulation specialist or really good as a Preservation/Distribution specialist.

    If you ask an Accumulation specialist what to do about social security and LTC this is what mostly likely you will hear.  Elect social security at 62 or at full retirement age. (Most Accumulation Specialist don’t know any other answer to give you) Buy a long term care policy (They don’t have any other answer to give you, well you might hear see an attorney)  Point is-they’re an accumulation specialist and not a preservation/distribution specialist.

    ***You have one retirement.  Get everything done right and truly enjoy your golden years.  Retirement should be a reinventing of yourself and having a great life.  Many retirees have made decisions over the years to keep using the services of an Accumulation specialist after retirement because that’s all they have known over the last 30-40 years of working & investing. 

    That Accumulation specialist may have done his job correctly (suitable) but may have also blown up that retirees retirement nest egg in the market, cost them thousands of dollars in poor Social Security election timing, sold them the wrong annuity, not advised them on proper estate planning & LTC planning, Medicaid spin down, Medicare, and literally cost the retiree the family farm.

    Be smart and understand your family needs a retirement specialist.  That it’s a family decision to get on a new and promising path.   Don’t stay in a relationship with a Accumulation specialist just because you have a great relationship because of many years of service and ruin your retirement years.   Those years of investing services was what the Accumulation specialist was suppose to do for you.  It was never meant to be a lifelong investment path. 

    Some seniors and boomers have been retired for awhile and have been to several Accumulation specialist only to find they keep running up against the same brick wall. (They’re approaching retirement or already retired over the age of 55 or 60 and still working with an Accumulation specialist.)

    There is an old saying  “know when to get off a dead horse“. Know when your horse is dead and to get off of it before it falls over, “dismounting”, and get on a new horse to take you where you want to go.

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