In this episode, Kevin Richards and co-host Tony Shore discuss Smart Money: Protecting and Growing Your Retirement Assets, authored by Kevin, and strategies for securing steady income after retirement. Richards is eager to influence and educate audiences with his book, as he's summarized his experience and expertise on retirement financial decisions.
"That's why you have books," Richards says. "It's to make the learning experience of the author shortened down into a digestible form, that's easy to do, easy to digest and understand, and in a quick amount of time."
The co hosts dive into options towards establishing a master plan for financial plans of action before retirement, for retirement.
Listen to Kevin Richards and Tony Shore Discussion on Smart Money here.
Take Financial Fate into Your Own Hands
Now is the time to take future financial fate into your own hands.
Richards' book Smart Money: Protecting and Growing Retirement Assets simplifies an important phase in one's career, or rather, the first phase after one retires from a career.
"Any financial advisor out there that's good should make what's complicated, simple." Richards highlights.
By brainstorming strategies, learning the facts, and securing one's own financial future, an individual can live a comfortable lifestyle.
Hybrid Annuities and Guaranteed Income for Life
Richards introduces a strategy that offers "the best of both worlds" when it comes to stocks and financial security: hybrid annuities. Keep money growing above inflation, but not risk it when there is a down trending market. He explains that there is no loss if the stock market drops, however they will also grow when the market is growing.
Hybrid annuities provide both the protection and growth of assets.
"Why not put it into a vehicle that has a historical performance of going up when the stock market is going down?" Richards states.
An additional benefit of these is a guaranteed income for life feature provided. It is a percentage of account value based on age for the rest of one's life.
"You will know, without a doubt, what amount of money you will get per month for the rest of your life," says Richards.
Learning the Facts
Richards and Shore recognize the importance of knowing the facts before a decision is made. Be cautious with annuities selected and make sure it's the right one for your standards and needs. Facts to take into consideration include fees, risk level, and uncertainty.
"My job is to be the unbiased coach or consultant to our clients, where we sit down together and look at all the options and break down the pros and cons, so now we're informed about what makes the most sense," Richards explains.
Plan Now, Not Later
Richard and Shore encourage people to begin the preparation phases of their plans for consistent income, financial growth, and income security, earlier than later.
A significant step creating a blueprint of strategies and methods that have been proven to succeed. Keeping in mind Richard's importance on taking control, it's important to make decisions on what's best for you.
KNR Consulting Group is offering free consultations on long-term care plans to listeners who call the office at (949) 218 3900. You can also find more information on their website: https://www.knrconsultinggroup.com/.
Listen to KNR Consulting on the Radio AM 740 KBRITE: http://radio.financiallytuned.com/knr
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