• Skip to primary navigation
  • Skip to main content

  10531 4S Commons Drive #714 San Diego, CA 92127            (800) 215-5882              mike@hoodfinancial.com

Hood Financial

Hood Financial

Retirement. Reassured.

  • Home
  • About
    • The Hood Financial Story
    • Our Team
  • Who We Serve
  • What We Do
    • The Complete Retirement “Sherpa” Experience
    • Accumulation
    • Decumulation
    • Second Opinion
  • Start Your Journey Here
  • Resources
    • The Baby Boomer Dilemma
    • Your Asset Map
    • Your Financial GPS
    • Your Risk Number
    • Blog
  • Contact

SO, YOU THINK YOU’RE READY FOR RETIREMENT?  THINK AGAIN!

Do you spend more time planning a vacation to your favorite island getaway than you do planning for retirement? Without the right plan, many investors have woken up and realized they shouldn’t have retired so soon. But, by then it’s too late. Others retire early, adopting a ‘life is too short’ mentality. But the fact is that, for some, life is actually too long. Many retirees are in danger of outliving their money.

At Hood Financial, our goal is to help you to retire – – – only once.  Our “10 Critical Questions Every Pre-Retiree/Retiree Must Answer” checklist is a good place to start.  We challenge you to answer these questions honestly.  See if you’re on track, or if you could use some help.  Getting the right answers now could make the difference between enjoying a worry-free retirement or posting your most recent resume online.  So before you get too relaxed on that island sipping a cold drink, let’s make sure you can sustain your retirement lifestyle.  (After all, there are only so many Walmart greeter jobs to go around!)

1.  Have you taken the Seven Major Retirement Risks off the table?  
     (If not, you’re living under a false sense of security in retirement)

2.  Do you have a plan for not outliving your money?
     (Many people dramatically underestimate their life expectancy)

3.  Which Social Security strategy provides the most income to you and your spouse?
     (Many people get this one wrong- and it costs them dearly)

4.  Have you factored in the rising cost of healthcare throughout your retirement?
     (Studies show that the average retiree will spend over $300,000 in healthcare expenses above and beyond insurance premiums, deductibles, co-pays, etc)

5.  Do you have a plan for Long Term Care?
     (If not, are your kids financially prepared to shoulder the burden of your long-term care?  In many states, your children can be held responsible for unpaid nursing home bills)

6.  Will the IRS be the largest beneficiary of your IRA/401(k)?
     (For most people, the answer is unknowingly yes.  The Secure Act has made this situation even more costly to your heirs- and a living trust won’t help you here)

7.  Do you know how the first few years of retirement can make or break your nest egg?
     (This is often called the ‘silent killer’ of retirement plans)

8.  Have you calculated the impact that income taxes will have on your surviving spouse?
     (Single tax bracket surviving spouse’s often pay more in taxes than when filing jointly)

9.  Have you stress-tested your retirement portfolio for market volatility?
     (Market fluctuations have a bigger impact negatively on portfolio longevity during the distribution phase of your life than during the accumulation phase)

10.  Do you have a Certified Retirement Specialist/Fiduciary to guide you along the way?
     (Studies show a dramatic increase in overall retirement satisfaction, peace of mind, and contentment when using a qualified financial advisor)

So, how’d you do?  Not as good as you thought?  You’re not alone!  That’s why we’re here.  Let us help you get the right answers to these and many other questions you haven’t even thought of yet.  Please give our office a call at 800-215-5882, email us here, or click on this calendar link to arrange for a 10-15 Minute “Get Acquainted” phone call.  

Written by:
Mike Hood
Published on:
March 25, 2022

Categories: Uncategorized

Explore more

Footer


The information provided by Hood Financial, LLC is not to be considered legal or tax advice. Consult with an attorney or tax professional regarding any specific legal or tax situation. Michael D. Hood is a Registered Investment Advisor with Hood Financial, LLC (“Hood Financial”)- a registered investment adviser offering advisory services in the State of California and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by Hood Financial in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.

Investing involves risks, including the potential for loss of principal. There is no guarantee that any investment plan or strategy will be successful.

Copyright © 2022 • Hood Financial

Keep In Touch

  • facebook
  • twitter
  • youtube
  • linkedin

  10531 4S Commons Drive #714 San Diego, CA 92127

(800) 215-5882

  mike@hoodfinancial.com