The COORDINATED RETIREMENT PLAN

Federal Benefit Advisory

What in the world is a coordinated retirement plan?

When was the last time you heard of a doctor, a financial planner, a lawyer or a real estate agent getting together to coordinate their planning efforts for a client they all serve? When you think about it, all of these elements have an impact on your life, the future and your retirement. Consider this, if one element changes, all must change in response. If your plan is not coordinated, then disaster may occur at a time when it may be too late to cure. Consider your life in these cubicles. The following should raise more questions than answers. If you do not know the answer now, it may be too late after you are hurt, sick or gone!

Your retirement plan must include consider of the following:

  1. Your health
  2. Your Estate & Finances.
  3. Budget today, budget in retirement
  4. A Will or Trust?
  5. Power or attorney
  6. Known & Unknown future health issues?
  7. Do you love your motorcycle?
  8. Special needs children will need lifetime care.
  9. Travel and living abroad.
  10. Inflation
  11. Market up swing and nosedive.
  12. Planning for THE UNKNOWN
  13. Your Home, location, size, community will they be serving you, or a burden.
    1. “We are leaving our home to the kids; they grew up here.”
      1. What do the kids say about that?
      1. Most children will sell mom & dad’s house.

Though each professional is doing their best to help the client, this lack of coordination is one of the major causes of the gaps that cause 7 out of every 10 Americans to fail in retirement.  

Sometimes, the planning that one professional does for you can undo the efforts of others.  

Planning blockades:

  1. Fear of Unknown; Running From instead of Walking Toward.
  2. Advice of friends, co-workers who will not guarantee or replenish your losses.
  3. Legal advice, cookie cutter does not always mean right advice.
  4. Financial Advisor:

As doctors are experts, some are more expert, the same with financial advisors. One does not go to a pediatrist for a heart problem, and as financial advisors and your unique situation of being a federal employee planning for retirement, all advisors are not equal.  Most advisors think profit, so you can be positioned later for income. When profit comes at a risk, then what is Plan B if the profit does not occur. What if your planner were to tell you, I can guarantee your future income, your spousal income and your children’s income, when you die?

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