Mid-year check in!

With a lot of people having one of their best years ever, it’s a great time to try something new or finally finish that project you’ve been saying you were going to do for years.

Question:

6 Months from now, what is one thing that you will be glad you started today?

Here are your Quick Hits:

Assessing Both Longevity AND Mortality Risk For More Effective Retirement Plans

• I thought this in depth article brought up some great points to think through when building retirement plans.
• “This means there is a conflict when deciding on how long to assume someone will live: longevity risk drives advisors to plan for longer lives, but mortality risk for shorter. What’s an advisor to do?”
• “Unfortunately, assuming a long life in order to protect against longevity risk (outliving your money) can increase the risk that resources will be lacking upon the passing of the first spouse (mortality risk). To account for this risk, advisors can use expected mortality-adjusted income in the plan analysis to make sure they don’t overstate how much a couple can afford to spend.”

How One Man Lost $740,000 to Scammers Targeting His Retirement Savings

• This is a super important article to talk through and share with your client base!
• “The nature of these schemes makes it nearly impossible to recover the money, leaving victims with little recourse. The stolen funds are often whisked to overseas accounts or laundered through cryptocurrency wallets, which are quickly emptied.”
• “Withdrawals from tax-advantaged retirement accounts like traditional IRAs are taxed as ordinary income, so to the government, it looks like Heitin lived large last year: He still owes nearly $285,000 in federal and state taxes.”

How to Create an Ownership Mindset

• Powerful and quick listen to help your team create an ownership mindset.
• Daren Hardy shares how Coach K’s unique approach to leadership brought unparalleled success to the U.S. men’s basketball team.

Australian amputates part of finger to compete at Paris Olympics

• This is the most dedicated  to a team and a goal than I’ve ever seen.
• “he opted to have the ring finger on his right hand amputated just below the top knuckle – in part because doctors said it would allow him to return within 10 days, in time for the Olympics.”
• “I can still have a pretty good functioning life, with just a little less finger to worry about.”