Why We Plan

By Modern Wealth Management

June 22, 2018

Do you remember getting your first paycheck and how it felt? Regardless if it was $10, $100, or $1000, there’s a good chance that you felt like a millionaire, even if only for a few minutes. Did you spend it or did you save it? We’ve said it before and it bears repeating. The earlier you start saving and planning for your retirement, the higher probability you have of reaching your self-defined retirement goals.

If you’ve been tuning in to America’s Wealth Management Show over the last couple of months, you’ve heard retirees talk about their experiences in preparing for retirement. It’s been said that experience is oftentimes the best teacher and our guests are not only talking about the joys and successes they’ve had, but arguably even more important, they are admitting the mistakes they made along with advice to future retirees in the hopes their history doesn’t repeat itself in other’s lives.

In that spirit, we are again sharing our extremely popular video, Why We Plan in order to reaffirm the importance of planning for retirement. If you know of someone who may benefit from viewing it, feel free to share this blog with your friends and family and then tune in to this week’s America’s Wealth Management Show on Saturday morning on 98.1FM KMBZ. Dean and Bud will be talking to Jeff and Kris who retired early and found themselves dealing with of the psychological hurdles of early retirement along with how they were able to get to the point of financial independence before the typical retirement age of 62 or 65. Until then, enjoy one of our it’s an oldie but a goodie video, Why We Plan.

Today let’s talk about planning for retirement.

Now I know that for some of you the very thought of a plan might induce some sweating, rapid heartbeat, and some nausea.

However, in reality it really can be a beautiful thing. Allow me to explain.

Planning is not about the establishment of goals, budgets, minimizing risk, maximizing returns, tax reduction strategies, income bucket strategies, or any other strategies.

Its not about asset protection, wills, trusts, healthcare directives, beneficiary designations, or any other legal document or process. None of these things have anything to do with why we plan. So if that’s the case why do we plan?

We plan so that the hopes and dreams of individuals who have spent their lives taking care of their families by responsibly setting money aside can be realized.

We plan for the spouses who will one-day be widows and widowers so that they don’t have to worry about anything except the natural grieving process.

We plan for the special needs child who will never be able to take care of themselves in a meaningful way.

We plan for the proud grandparents who want nothing more than to see their grandchildren attend and graduate college and go on to lead amazing lives.

We plan for parents who love their children and want to ensure that the money they worked so hard for stays in their bloodline.

We plan for the individuals and couples who never had children but want to make sure their final wishes are carried out and the people and causes they care deeply about receive what’s left of their estate.

We plan for the moments when life changes in order to ensure the continuity of life styles.

We plan for the things that you care deeply about, because really, nothing else matters does it?

In short we plan because we all only get one life, that’s it. And because we only get one life we believe that you should live it in the best way possible. And that isn’t possible without a plan, which in the end is why we plan.

If you’re ready to start planning, we’re ready to help! Modern Wealth Management offers a complimentary Retirement Plan Review, where an advisor will sit down with you and discuss and evaluate your retirement standing. If this sounds like something you would like to try, feel free to schedule a complimentary consultation below or give us a call at 913-393-1000.

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Investment advisory services offered through Modern Wealth Management, Inc., an SEC Registered Investment Adviser.

The views expressed represent the opinion of Modern Wealth Management an SEC Registered Investment Advisor. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Modern Wealth Management does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.