Is There Any Such Thing As a Zero Risk Investment? By Warren Elkin, Norhill Wealth Strategies

Transfer-Your-Roth-IRABy Warren Elkin

Wouldn’t it be wonderful if we lived in a world where we could earn a high rate of return on an investment without accepting any risk? While we readily accept that most of us won’t be buying into that type of scenario, as we head closer to retirement age, we would like to have some of our retirement funds in zero risk investments.

What Constitutes a Zero-risk Investment?

A riskless investment is one in which the return on the investment is a known figure and the issuer of the investment is a highly trustworthy agency. Generally speaking, securities offered by the United States government such as Treasury Securities are considered riskless. Although the U.S. government could potentially default on payment, most experts agree that the country would be in dire straits should such a default ever actually occur.

Savings accounts and certificates of deposits, or CDs, at insured financial institutions are also types of zero-risk investments that people have found useful, especially when higher interest rates were available.

Why not choose solely no-risk investments?

A major drawback of zero-risk or low-risk investments is that their yield is extremely low in the present financial environment. People want their capital to earn money, preferably at rates that at least keep up with current inflation rates each year.

According to the U.S. Inflation Calculator, inflation rates in the United States from 2007 to 2013 ranged from a high of over 4% to a low of about .01%. Inflation rates will continue to fluctuate, so those investors who hold onto cash positions actually lose money each year as their purchasing power declines according to the rate of inflation.

While there is no way any financial adviser can guarantee you a high rate of return in exchange for little or no risk, we can advise you in making sound investment decisions where you trade risk for reward as best fits your position and financial requirements. Contact us or visit our website to learn more.

Make sure you have all the facts necessary to make the right decision with your financial future by calling us today! We can help you with information regarding Annuity, Annuities, Fixed Annuity, Fixed Annuities, Variable Annuity, Variable Annuities, Immediate Annuity, Immediate Annuities, Income Annuity, Income Annuities, Deferred Annuity, Deferred Annuities, Index Annuity, Index Annuities, 401k Rollover, IRA Rollover, Retirement Income Planning, Immediate Fixed Annuity, Immediate Fixed Annuities, Annuities Calculator, Deferred Variable Annuity, Immediate variable Annuity, Immediate Income Annuity, Immediate Income Annuities, Deferred Variable Annuities, Best Fixed Annuities,
Best Fixed Annuity, Fixed Deferred Annuities, Fixed Index Annuities, 401k, Rollovers, IRA Rollovers, Advanced Retirement Income Solutions, Retirement, Income Planners, Retirement Income Solutions, Zero Risk Investments.

Speak with us now at 877-476-5051, email Warren at warren@warrenelkin.com, or go to www.warrenelkin.com to learn more about Warren Elkin of Norhill Financial and his unique process to make sure your financial decisions are made in your best interest.

Diversify Your Retirement Plan and Achieve Success

How do you define someone as having a successful life?  Better yet, how does one achieve a life of success? It’s a loaded question, I know.  However, with so many possible answers, there is a single theory at its very core…diversification.

Ultimately, a successful life can be achieved by financial stability and a comfortable home life, which leads into an enjoyable retirement.  To get here, one needs to have strategies in place that are creative enough to achieve whatever your definition of success may be.  The more diversified your funds and retirement plans are, the happier you will be in the long run. For example, a retiree is better having their money work for them in multiple, successful ways rather than putting their nest egg completely in one basket.  The potential for success is higher when multiple opportunities to reach this success are presented.

Often, my clients come to me with questions and concerns about the stock market thinking that this unpredictable platform is the only way to invest their money.  The truth is, there are a handful of valuable outlets and strategies you can use when preparing for your future.  In fact, financial expert Walter Updegrave stated in a CNN Money article that the addition of annuities in your financial plan “could provide lifetime income regardless of how your investments perform.”  What is a more successfully diverse plan than this? Don’t limit your money; spread it to various outlets where it can help increase your overall returns and lead you into a comfortable retirement.

Saving money and strategic planning is the key to a successful retirement, but you don’t have to do it alone.  Call today and ask about our one-on-one consultation! You can speak with me directly at 877-476-5051 or email me at warren@warrenelkin.com.

For more information go to www.warrenelkin.com and learn more about our unique process to make sure your financial decisions are made in your best interest.

Sources:

http://money.cnn.com/2013/03/15/pf/expert/retirement-savings.moneymag/index.html

http://www.ehow.com/about_5544897_retirement-planning-statistics.html

Image courtesy of:  http://dyingrich.blogspot.com/2010/10/retirement-planning-mistakes-to-avoid.html

Plan For Tax Season and Avoid The Mess

Tax season is upon us and I can already see the stress that is overcoming many of my clients.  With only a month left to get your taxes taken care of, I continue to hear all sorts of questions.  Will I receive the amount on my tax returns that I am anticipating?  What should I do with my refund?  What are stealth taxes?  These are important questions that come about every year during this season.  Just like retirement planning, it’s important to have a plan for your taxes and to make sure you’re asking the right questions.

Adam Spiegel, a Miami-based certified public accountant and partner with Morrison, Brown, Argiz & Farra summed tax planning up with a very simple acronym, PLAN.

P stands for ‘prepare your records ahead of time.’

L stands for ‘list your issues and questions.’

A stands for ‘analyze your financial statements for accuracy.’

N stands for ‘note the changes in laws during the year and discuss them with your tax advisor.’
As a Retirement Income Specialist, planning and preparation are at the root of all of my clients’ strategies.  In this field of work, the better prepared you are, the more educated your decisions can be about future finances and investments.  Before you begin completing your taxes, complete a consultation with me, Warren Elkin, and get your finances in line so you’re ready for your CPA.  Don’t be a victim to the mistakes that many people make during tax season; learn what questions to ask your CPA to cut your taxes now and avoid tax problems in your future.

Call today! Speak with me now at 877-476-5051 or email me directly at warren@warrenelkin.com.  For more information go to www.warrenelkin.com and learn more about our unique process to make sure your financial decisions are made in your best interest.

Have a great day,
Warren Elkin

Sources:
http://www.inc.com/guides/2010/06/tax-season-planning.html

Image courtesy of: http://www.clarkhoward.com/news/clark-howard/personal-finance-credit/clark-talks-cains-9-9-9-tax-plan-and-his-own-tax-p/nFFxR/

Low savings? No problem, retirement is still possible!

Will I ever have enough to retire? Will I outlive my savings? How can I catch up if I haven’t been saving? As a Financial Advisor, these are questions I often hear when meeting with new clients, and it is my job to help my clients plan and prepare for their future retirement.

In general, my clients usually fall into two major categories, early-bird planners or fashionably late planners.  One situation is not necessarily better than the other, there is just a different strategy depending on your financial situation.  When my clients come to me early in their career, it gives us more time to layout a long-term strategy of investing and saving for when retirement does come. But just because you don’t have a large savings built up does not mean you can’t enjoy retirement; it simply means you must plan differently.

Planning for retirement may seem like a daunting task that is far off in the distance, but it doesn’t have to be complicated. If you seem to be hitting roadblocks, give me a call and let’s make sure you have all the facts necessary to make the right decision with your financial future. Speak with us now at 877-476-5051 or email Warren at warren@warrenelkin.com.

Some professional guidance will help make sure you have all the facts necessary to make correct decisions when designing your specific retirement plan. For more information about our company visit www.warrenelkin.com and learn all about our unique processes that help make sure your financial decisions are made in your best interest.

Have a great day,
Warren Elkin

 

Image courtesy of: http://ecommercechangetheworld.blogspot.com/

Getting Ready is the Secret to Success

Henry Ford once said, “Before everything else, getting ready is the secret to success.”  This is something that is most definitely relevant in the finance world today.  As a Retirement Income Specialist, I preach preparation.  The more you focus on situating your finances now, the better prepared for retirement you will be.  Retirement is designed to be a time in your life to relax, not a time to stress over your finances.

According to a 2012 report from the Center for Retirement Research, “at Social Security’s earliest retirement age of 62, only about 30 percent of households are prepared for retirement…By age 66, Social Security’s current Full Retirement Age, about 55 percent of house-holds are projected to be prepared for retirement (this figure includes the 30 percent already prepared by age 62).” Too often I run into clients who fall into this category, they are emotionally ready for retirement, however their finances are not in the same place. This is a significant part of planning for retirement as there are a variety of pitfalls to avoid and questions to ask before just waiting until you are the correct age and signing up. Planning early is key and that’s where I can help! Call me today at 877-476-5051.

Don’t be a statistic. It’s time you protect your money, receive a guaranteed income stream and retire with confidence.  The goal should be not to simply retire from something or some job, but to retire into a lifestyle that is pleasing to you!

If you have questions about your retirement call us today and make sure you have all the facts necessary to make the right decision with your financial future! Speak with us now at 877-476-5051, email Warren at warren@warrenelkin.com, or go to www.warrenelkin.com to learn more about Warren Elkin and his unique process to make sure your financial decisions are made in your best interest.

 

Have a great day,

Warren Elkin

 

Source:

Center for Retirement Research, Boston College. National Retirement Risk Index: How much longer do we need to work?  Retrieved from http://crr.bc.edu/wp-content/uploads/2012/06/IB_12-12-508.pdf

Image courtesy of: http://www.forbes.com/sites/financialfinesse/2012/07/25/what-young-people-need-to-know-about-retirement/ (Getty Images)

Do you have all the pieces to retire?

The conversation about retirement brings a lot of different topics for discussion; it also brings about the controversy over many myths surrounding retirement planning.  It is not uncommon for me as a Retirement Income Specialist to see these financial “myths” scare retirees away or put off planning for their future.

I am here to tell you that while these myths make planning for retirement seem daunting, it is not as complex as it seems!  Having a well thought out financial plan will indeed make things less stressful and less confusing when retirement draws near.  There are a lot of pieces that go into planning for retirement and understanding each piece will help you put together the whole puzzle.  Annuities are often the most misunderstood and therefore overlooked piece, but they can play a vital role in your planning.  FoxBusiness.com illustrates this role perfectly when it makes the comparison that “annuities work exactly like a company pension or your Social Security benefits.” Take a look at annuities if you feel you’re missing that last piece of the retirement puzzle.

I have over three decades of experience working in the financial industry and would be delighted to guide you and clear up any misunderstandings about your retirement that you may have. If you are nearing or planning for retirement, don’t let the financial “myths” lead you astray.

If you have questions about your retirement call us today and make sure you have all the facts necessary to make the right decision with your financial future! Speak with us now at 877-476-5051, email Warren at warren@warrenelkin.com, or go to www.warrenelkin.com to learn more about Warren Elkin and his unique process to make sure your financial decisions are made in your best interest.

 

Have a great day,

Warren Elkin

 

Image courtesy of: http://retireecenter.ucdavis.edu/images/photos/retirementpuzzle-360.gif

Don’t Let Medical Costs Destroy Your Retirement

Medical CostsToday I wanted to tackle a topic that is often a question and concern for many of my clients, “how can I continue to pay for all of my expenses once I retire?” The answer is less complex than you think…layout a financial plan, execute that plan and continue with more planning.

A New York Times article released earlier this year stated that “a 65-year-old couple retiring this year without any employer-based health coverage would need an estimated $240,000 to cover medical costs through retirement, according to Fidelity’s latest estimate.”  Medical costs are just one of the realities of retirement and something you can’t always plan for, but you can plan for financial freedom with a good retirement strategy.  An employer providing no help with health benefits to their employees is a burden many retirees face, and that’s where I can help!

One in six individuals considered to be “older Americans” live below the poverty line according to the U.S. Department of Health and Human Services. Once your working days are over, you deserve to relax and enjoy retirement not stress over financial burdens.  Avoid the stress and plan for your retirement.

We can help you find the money falling through the cracks to help pay for the high cost of medical care or insurance premiums now and in the future. For a free, no obligation, 3 Step Review; call me today at 1-877-476-5051.

Make sure you have all the facts necessary to make the right decision with your financial future by calling us today! Speak with us now at 877-476-5051, email Warren at warren@warrenelkin.com, or go to www.warrenelkin.com to learn more about Warren Elkin and his unique process to make sure your financial decisions are made in your best interest.

Have a great day,
Warren Elkin

Photo courtesy of: www.kiplinger.com

Don’t Let Retirement Kill Your Relationship

imagesWith Valentine’s day only a week away, there is a certain buzz in the air of couples looking forward to a date night away from daily responsibilities.  The holiday forces busy people to carve out alone time to go to that new restaurant, to try a new recipe, or just to have time away from the kids.  I can’t tell you how many times I’ve heard clients look forward to retirement for much the same reasons, a time to finally be together.  Quality of life in retirement will improve significantly once routine stresses have been eliminated, right?

Unfortunately, according to NPR, one third of new retirees say their finances are worse than before they retired.  That doesn’t make for a blissful second honeymoon phase, does it?  Money troubles can start to wear on a couple in retirement, which is why meeting with a financial planner is so crucial.  Set up a time to meet with me today to keep your finances, and maybe even your romance, alive.

It makes sense that retirement would be an adjustment for couples who have spent decades having their own separate space.  Here are a few common reasons for domestic friction during retirement:

  • Men and women alike might define themselves by their career, so ending the job routine can be hard on someone’s sense of self.  With one or more parties feeling lost, the relationship can endure a rift.
  • Let’s say a man has worked outside of the house for as long as he can remember while he his wife has carved out her own daily routine.  Now that the husband is home, it can disrupt his wife’s schedule and cause some resentment.
  • Everyone has their own vision of retirement life, and if you don’t discuss and plan that dream together then you’ll both be left disgruntled when the reality isn’t what you had imagined.

Most, if not all, of these common spousal retirement arguments can be solved with good communication.  Recognize that while planning retirement should be a joint effort, you do not need to spend every waking moment together once you reach it.  Still be sure have your own activities, friends and space so that those special moments together continue to feel special.  Spending so many Valentine’s Days together is a monumental achievement, but be sure to save your romance by giving yourself a strong financial foundation for your retirement; meet with me early on to nip these money troubles in the bud.

Make sure you have all the facts necessary to make the right decision with your financial future by calling us today! Speak with us now at 877-476-5051, email Warren at warren@warrenelkin.com, or go to www.warrenelkin.com to learn more about Warren Elkin and his unique process to make sure your financial decisions are made in your best interest.

Have a great day,
Warren Elkin

Photo courtesy of: impowerage.com

Dream Big for Retirement

elkin_dreamretirementLast week I discussed how misinformation keeps many retirees from getting the most out of retirement.  This week, I want you to stop thinking negative thoughts about your future and start designing the retirement of your dreams.  Don’t buy into the myth that you’re sure to outlive your money: start thinking positively and take the necessary measures to place yourself in an ideal position once retirement arrives.  Being proactive about your future is important and can even be downright fun; to start planning, set up a consultation with me by calling 877-476-5051.

Meeting with me, Warren Elkin, is the right place to begin the journey but it shouldn’t end there.  Money may be at the root of retirement, but the monetary aspects are hollow without spending it wisely.  First, think about surrounding yourself with friends and family that will keep you physically and mentally healthy.  Retirement is not a solitary existence, so if you’d like to be closer to loved ones start looking for real estate developments as soon as possible.

When you were younger, your dreams may have been put on hold due to a mortgage or children’s college tuition; take retirement as your time to finally spend the way you’d like!   You’ve worked hard, so feel free to spoil yourself and get on the list for that fancy car, or sign up for a membership at that golf club you never thought you could afford.  If you’ve always wanted to travel, start looking into trip options and narrow down where you’ll go and who you will be taking with you.

Your ideal retirement is out there, so plan wisely and get creative!  Don’t get bogged down in the nitty gritty pessimistic thoughts about the future, let these years be the best of your life!

Our unique review process may help you find the money falling through the cracks in your tax and investment planning to pay for some of those dreams. Make sure you have all the facts necessary to make the right decision with your financial future by calling us today! Speak with us now at 877-476-5051, email Warren at warren@warrenelkin.com, or go to www.warrenelkin.com to learn more about Warren Elkin and his unique process to make sure your financial decisions are made in your best interest.

Have a great day,
Warren Elkin

Retirement Rumors

SecretsI’ve recently been privy to conversations with friends and colleagues over the ramifications of having revealed the heartbreaking truth about Santa Claus to their children or grandchildren over the holidays.  The myth that a jolly old man in a red suit shimmies his way down the chimney bearing gifts for those who have behaved well all year was instantly shattered by parental confessions.  However, those who think only children believe in fictitious legends are very much mistaken.  In fact, I have many clients who believe in rumors about retirement with equal vigor; it’s my job to debunk these financial untruths, as there’s much more at stake here than a couple of reindeer and a bountiful sleigh.

While you can choose what age you’d like to retire, those who believe they can claim their Social Security early and still get all of their benefits later are mistaken.  When you claim early, your benefits will be 25 percent less than if you had waited until retirement age and even up to 80 percent less than if you held off until age 70.  Of course, unforeseen events such as an illness can cause families to take this course of action, but the decision should not be taken lightly.

Don’t rely on being able to work longer or part-time during retirement, you will regret it later.  We all have the optimistic hope that we’ll work as long as we please, but the reality is you cannot predict your own health and work circumstances.  Taking big risks with your investments as you age can hurt your savings, and a backup plan to just keep working is not a sure safety net.

Just because your kids are grown does not mean your expenses will decrease, and thinking that you will need less income during retirement is a common misconception.  You want retirement to be a happy time of life, and failing to accurately budget can result in very stressful decisions for both you and your loved ones.

The key to retirement is planning for your own future and ignoring the popular myths perpetuated by rumors.  It’s important to meet with me, Warren Elkin, in order to sift through the gossip and find out the truth.  Have you bought into the myth that you can withdraw 4-5% of your portfolio because you are going to make 8-9% and, if so, would you like to know how long the amount you are withdrawing is sustainable?  Just like not believing in Santa Claus doesn’t make the holidays any less joyous, knowing the realities about retirement will make that time of life a special and happy one.

Make sure you have all the facts necessary to make the right decision with your financial future by calling us today! Speak with us now at 877-476-5051, email Warren at warren@warrenelkin.com, or go to www.warrenelkin.com to learn more about Warren Elkin and his unique process to make sure your financial decisions are made in your best interest.

Have a great day,
Warren Elkin

Photo courtesy of: http://poetryblogroll.blogspot.com