Dan Saccal discusses insights on how to secure a financial future.
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-dan-saccal-president-of-vision-wealth-management-discussing-major-issues-facing-people-in-or-near-retirement/
Planning for retirement is a critical aspect of financial management, involving key questions to ensure a secure and comfortable retirement. In a podcast episode featuring Dan Saccal, President of Vision Wealth Management, these key questions were discussed:
How old are they? Understanding one’s age is crucial in retirement planning to determine the retirement timeline and the duration of retirement savings and income sources will need to last.
What assets do they have? Evaluating assets, including savings, investments, properties, and income sources, is essential in assessing available financial resources for retirement. This evaluation provides a clear picture of current financial standing and potential income sources during retirement.
How long are they expected to live? Estimating life expectancy is vital in retirement planning due to longer lifespans. Individuals need to consider the possibility of living longer in retirement and plan finances accordingly to sustain their lifestyle.
Will their income and assets last as long as they do? Addressing the sustainability of financial resources throughout retirement is crucial. Creating a financial plan that considers expenses, inflation, market fluctuations, and other risks ensures income sources and assets can support the individual’s lifestyle throughout retirement.
By addressing these key questions and incorporating them into a comprehensive retirement plan, individuals can better prepare for financial challenges and uncertainties in retirement. Dan Saccal stresses the importance of creating certainties in retirement planning by providing guarantees and implementing strategies for financial security and peace of mind for those approaching or in retirement.
Retirement planning risks are multifaceted and require careful consideration to ensure financial security during retirement. In the podcast episode with Dan Saccal, several key risks were highlighted:
Market Risk: Refers to the probability of experiencing unexpected returns due to market fluctuations, impacting traditional portfolios during market downturns.
Longevity Risk: Arises from longer lifespans, requiring planning for income to sustain an extended retirement period.
Inflation Risk: Results from rising costs diminishing the purchasing power of retirement savings, necessitating planning for income to keep pace with expenses.
Tax Risk: Involves managing tax liabilities to preserve savings and maximize income in retirement amid potential tax changes.
Long-Term Care Risk: Addresses the potential substantial costs of long-term care and the need to plan for covering care expenses.
By acknowledging and addressing these risks in retirement planning, individuals can develop comprehensive strategies to safeguard their financial well-being. Dan Saccal emphasizes the importance of tailored plans offering guarantees, growth opportunities, and protection against unforeseen circumstances for a secure retirement.
Working with a financial advisor like Dan Saccal and implementing strategies that address risks and uncertainties can provide peace of mind and financial stability in retirement.
Dan said: “Providing peace of mind to clients through guarantees so that they can enjoy their best years worry-free.”
Video Link: https://www.youtube.com/embed/jNJJwXEyDmo
About Dan Saccal
Dan graduated in 1988 with Honors from the University of Florida with a degree in Finance and has served clients as an independent financial advisor since 1994 providing peace of mind through guarantees so that they can enjoy their best years worry-free.
Learn More: https://vwminc.com/
