Will You Stay Home in Retirement?
For Mark Roberts’ Use: When you think about retirement, what do you picture? For some, retirement means a move to Florida, a cozy condo in the mountains, or a tidy home closer to the grandkids. But for many of us, retirement simply means that we relax and enjoy our current homes even more.
A poll by the National Council on Aging discovered that 9 out of 10 Americans over age 60 are planning to stay right where they are, at least for the next five to ten years. Their reasoning fell into the following categories:
- 85 percent said they like their homes and don’t want to move
- 66 percent said they don’t want to move away from family or friends
- 50 percent said they don’t want to deal with the hassle of moving
- 30 percent of respondents don’t know where else they would like to live
- 26 percent said they can’t afford the cost of moving
- 23 percent don’t think they can sell their homes in the current market
As you can see, some retirees are making this decision for relatively “positive” reasons. They love their current homes, and can afford them. Or, they already live in a place they love, near family in friends.
On the other hand, some of these statements are concerning. If you want to move but can’t afford it, or if you simply haven’t investigated other options, you could be missing out. And we don’t want that to happen.
One more thing to remember is that plans sometimes need to change. An illness, family emergency, or other circumstances could force a move. So, we urge you to account for unexpected moving expenses when creating your retirement budget.
We can help you plan for the retirement you want, whether that means moving somewhere else or staying right where you are. But let’s also consider a Plan B, just in case something changes. Continue to meet with us regularly, and we can help you explore all of your options.
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In addition to managing clients’ money and giving investment and diversification advice, Mark offers something that “the other guys” don’t - a unique approach to Retirement Tax Strategies and distribution. Time and time again, Mark meets with new clients who tell him they have a great relationship with their financial advisor but have never been offered information on this kind of approach to securing their financial futures. Mark has taken this feedback to heart and works tirelessly to ensure that his strategies focus on taxes and distribution.
Mark started selling insurance for a major insurance company right out of high school to help put himself through college. After graduating with a degree in finance, he dove into estate planning on the financial side to set himself apart from other financial advisors. However, as changes were made to estate tax laws over time, Mark shifted his focus to income tax strategies.
Mark’s philosophy is “the blue prints are more important than the wall paper or carpet.” The wall paper and carpet represent products like investments and insurance policies, whereas the blue prints represent the strategies. Once strategies that truly fit the client’s needs are put in place, our focus can shift to providing you with the right products. According to Mark, “It doesn’t matter what carpet we use if the walls are not in the right place.”
Our approach to money management is designed to generate the largest alpha (quality) with the lowest standard deviation and beta (risk). By doing this, we help provide clients with the highest return on the lowest risk. Generating income for our retirees is also very important. Because withdrawing money from your portfolio hurts the account rather than helping it, our goal is to design income strategies to harm the portfolio the least making the money last longer.