Mac’s Blog

July  2009

What is your Retirement Recovery Plan?

                            With out a plan/roadmap how do you expect to meet your retirement goals?

In a resent survey, 60% surveyed considered their investment knowledge as below average, more than 60% of this group have investment advisors with less than 30% having a formal, written financial plan and most that do have not had it review or kept up todate.

Without a plan/roadmap how can you expect to meet long term income and retirement goals?  As stated by Marie Rice, LIMRA’s Director of Retirement Research; “Clearly, there is a need to continue to educate consumers…”  Ms. Rice goes on to say that “By conducting needs-based analysis (first) to help their clients understand their options, financial professionals can show them how to choose the proper retirement income solutions…”

In plan English:

1. Regardless of age or means, you must have an up-to-date written financial plan!

2.   If your Financial/Investment Advisor has not completed a “needs –based analysis” should you be working with him or her?

The most important first step of any investment or financial change should be determining why and how it fits into your financial plan.  Designed Benefits provides free consultation and review of financial plans, if you don’t have a financial plan we will build one for you at no cost.  Then as necessary we will make recommendations to help you meet your long term goals and plans.

Hubert McMinn Jr.

Designed Benefits Associates is not an NASD Register Brokerage or associated with one.