Safe Retirement Experts Updates Income Planning ToolsCo-founders Brady Speers and Chris Novinger discuss how Safe Retirement Experts use income planning systems to better assist clients.
By: JBS Media “Income planning is so much more than just writing down your incomes and assets and doing a little simple spreadsheet,” According to Mr. Speers, making suggestions or recommendations to anyone from an income planning perspective without using such a system is like the blind leading the blind. “No one and no system is perfect,” he said. “But, you need to get it as close to right as possible. This is important to the client. They need to know they can rest at night knowing they aren’t going to run out of money.” Mr. Novinger agreed, “When you are talking about someone that might live another 30-35 more years after they retire, that’s a long, long time. The system we use now will show them what it looks like before we even make any suggestions and then what it would look like after. It’s powerful and it really helps them know how to properly decide what to do.” Millions of older Americans are in the process of or close to retirement and determining how to properly set up their income needs after they retire is something many are looking into. Sadly, according to Mr. Novinger, many advisors aren’t using similar systems and some don’t do any income planning for their clients at all. “You can’t guess at this. Let the numbers speak for themselves and at least then the client has a guide to refer to down the road,” he added. Some clients have their income plan already laid out or their income needs are more than satisfied by retirement plans and social security. However, with fewer and fewer people having pensions, according to Mr. Speers, the need for them to create their own guaranteed lifetime income sources is now more necessary than ever. “We use software to build and design our homes, choose which car to buy, travel from here to there, get an education, keep up with family and news, so why not use a software system to create an income road map to live on forever?” Mr. Speers stated with a smile. Brady Speers and Chris Novinger are the co-hosts of “The Retirement Experts Radio Show” on the Safe Money Radio Network and co-founders of Safe Retirement Experts, a retirement income planning firm based in the Dallas area that serves clients all over the Southwest. More about them can be learned on their website www.saferetirementexperts.com Photo: https://www.prlog.org/ End
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