Rates are down, stocks are hitting more new highs. Just a quick scan of the media that follows the markets, I don’t think anyone has any idea as to what comes next (do they ever?).
There are talks of recession, to experts saying there is no end in sight to how high the market will go.
Bottom line, your clients are seeing the same thing and that’s worrisome for them in retirement.
That’s why they need you!
Have a great week,
Here are your Quick Hits:
How a Surfer Who Never Finished College Became a Biotech Billionaire
- This headline definitely caught my eye, but it’s an incredible story!
- “There is a myth that making money in biotechnology stocks requires an advanced degree. But Bob Duggan, an avid surfer who never graduated from college, has proven that notion wrong. Twice.”
- “So what is his secret? One thing Vardi points to is the ability to know when to retreat and when to go all in on an investment. “Duggan has a lifetime of experience making big bets with his own money on the line and figuring out when to hold or fold,””
5 Things I Learned About Retirement Planning
- Good interview and video to watch and read this week with some solid takeaways.
- “Another topic that we talked about related to permission to spend is the role of annuities. And I still am intrigued by the ability for annuities because it’s kind of a one-and-done cash outlay and I think that it can help address that. You do at least have that cash flow, it reduces the number of times you need to go into your portfolio. And of course, annuities are a really broad basket. There are a lot of very crummy products in the mix, but I think that that’s another potential tool in the toolkit for people who are struggling with that permission to spend.”
Trusting the wrong people (article on Elder Fraud)
- Here at AE we are hearing about Elder fraud a few times a week now. It’s rampant.
- This is s a solid article to share with your clients and prospects right now.
- “Unfortunately these scams can be of a scale where they wipe out someone’s life savings in retirement. This retired lawyer lost some $740,000. This grandmother lost some $1.4 million. In neither case were the financial institutions involved much of a help.”
- “But a great deal of fraud happens not when an evil genius algorithmically cracks our cods but when we voluntarily give away access to our accounts because we have trusted the wrong people.”
Don’t Overlook These Crucial Parts of Your Retirement Plan
- Another great piece to send out and talk about on your shows.
- “if you are trying to optimize spending in terms of trying to maximize your cash flows from the portfolio, what you should do ideally is adjust your spending a little bit based on what’s going on in that portfolio, that you should take a little bit less in a down year, and in exchange, you should be able to take a little bit more in an up year.”
