A couple Saturdays ago I was headed out on a mountain bike ride and my youngest son wanted to join me.
I love taking the boys out on their bikes, but this time I was being a bit selfish and wanted to go longer and faster so I had him bring his electric dirt bike instead of his mountain bike.
When we got to mile 6.5 my son’s dirt bike ran out of juice. It was a real pain because we had another 2.5 – 3 miles to go in order to get home. So I got off my mountain bike and had my son roll my bike along while I dragged his dead dirtbike through the dirt and sand with my mountain bike shoes.
It was not very fun and somewhere along the way home my son even got a cactus stuck in his pant leg. (Luckily it didn’t break skin)
I kinda laughed about it thinking of the irony of the situation when we got home. Running out of juice ⅔ into a course is what I help my clients avoid when it comes to retirement.
Nobody wants to run out of juice aka cash flow until after their work is finished on this earth.
Retirement expert Tom Hegna recently published a book.
“Paycheck and Playchecks”
You might want to pick up a copy from Amazon. It’s a good read.
One questions he proposes is if there’s a way to take off the table some of the retirement risks.
He suggests people are living longer today and “longevity risk” is something that could affect some Americans in their income distribution years.
At first I didn’t quite understand what he meant by longevity risk until I read the book.
He claims if you do live a longer life…the longer you live could put you at risk of running out of money.
Of course, most people “really think” that isn’t going to happen to them.
Most of us are optimists right?
What if it did?
And you could take it off the table forever by locking in your gains to take care of your basic expenses in retirement for life?
The more I thought about it (and of course I’m biased since I help people do this all day) is that by protecting a portion of your retirement assets you actually could live a freer and happier retirement.
When you know your basic expenses are covered for life, you might think differently.
And you may act differently.
If that is how you want to think and feel…then we might want to talk.
Simply schedule a time to talk on my calendar below and we can chat for 15 minutes to see if it might be a good fit or not.
Remember — It’s Your Time…
P.S. This isn’t just for people nearing retirement. The earlier you start this process the more cash flow you will achieve.