What is a Retirement Shield?

ABOUT THIS EPISODE

If you need a major surgery, it's wise to get a second opinion. The same holds true for your retirement. You may think you are in good shape, but in this episode you'll understand why getting a second opinion from a qualified expert is a wise decision to make.

And welcome to the pudding, yourretirement interest, first podcast with financial expert and number one Amazon,bestolin author Robert Cannon, each episode features healthful insidepractical tips and reliable strategies to help make your retirement asenjoyable as possible for the next few minutes enjoyed listening as cohostBethanye Dilson tosks, with Robert Cannon about putting your retirementinterests. First. Once again I am joined by Robert Cannon.Robert is the author of putting your retirement interest. First, aprioritized approach to protect your future and turn your drums into reality.Yo can get it on Amazon Robert. Thank you so much o being with me again anddo thank you er very much. I prege thit, it yeah absolutely. So this is thesecond chapter of your book. What will be talking about today called theretirement shield. So what is the...

...strategy behind the retirement shieldand how can it be beneficial to someone so the basic strategy with retirementshield is. We are quitting your plan, in effect as aproactive plan, not as a react the plan, so we set up a blue print which youneed to succeed, so we're not put when NI guessing we're, not taking anychances with your retirement income and your retirementnestic we're putting aplan, in effect that we're going to make sure that you have enough incomein the future and we're going to make sure that we're going to mitigate riskof your investmennestic super important because a lot of times what people dothey take a chance and they roll the dice when you're accumulating in. Uaccumulation phase is completely...

...different than when you retire so a lotof times people they don't understand the difference. So you have to have adifferent mindset right before you retire and when you retire and afteryou retire and that's what we do, we make sure that we set that plan andeffect and make sure that your retirement is very free, super important. You have toenjoy your retirement, you work O thsand and thirty forty years, so youcan enjoy your retirement. So what is that mindset that someone should havebefore retirement and then, during and after before retirement? You knowyou're an accupulation face? You know you can get a little bit moreaggressive. You know you can acquire assets, you can roll the dice in the stock market. Youknow you can get super aggressive, but a few years before retirement and at teretirement age. Now we have to be very...

...risk adverse. We really have tomitigate risk and there's specific ways that we can do that and what we do iswe look at those specific ways to mitigate risk, to make sure that thesequential returns will not affect your retirement. So one thing that we look at is tapis.Another thing we look at is your income going forward, and these are veryimportant layers of your your retirement that you need to take a lookat major considerations, so I think a lot of people when they'retalking about their finances. Sometimes you know you can plan and planning plan,but life happens and sometimes you hit some black eyes. So speak. It's kind ofthe unfurseen things that happen just in life. So have you experiencedsomething like that personally or can you share maybe a story of a client?That's experience, something like that...

...yeah. I can even say I have also so you know at an early age. I had mentorsyou told me, you know Robert Build up your Networth buill UPYOUR Networt,building it out with great okay, so you can get assets real estate, businesses andthat builds up your network, but you can pay down your debt right,there's, good debt and Baddet. So if you pay down your good dad you'retaking resources of liquidity to pay that debt, which is great right, youhave assets so all of a sudden, I'm here with assets, what limitedliquidity? That's something which I can first hand tell you. You need a balance.You need a ratio of liquidity to assets because you canhave you know a home. You know, obviously, here weshester milliondollars and own it free and clear. You...

...have a million dollar that worth. Butif you have, you know tentousand dollars in the bank, you can be in a lot of trouble ifsomething really happened. So you need that proper ratio of the quididity toassets- and you know in terms of clients, I've seen I've seen clients sometimes make thatmistake. I usually I see them save a lot of money in in Iras in thatoutside of their I race. You know, there's a lot of risk to that, alsobecause you're you're, relying on the government, basically in your taxation,because you're pushing that you know down the road, but you know an thingcoal happen, Dow, the road they CA, trank, most wice they just recently dida few times. So I see that mistake a lot you know, but what we do we helpyou mitigate that risk, because you...

...don't need a tax bomb. You know in thefuture if it's five years years down the road, that's something you want toavoid. Well, I'm just hearing you share. It'snot like the retirement show that you guys offer really does seem very customizable. It's somethingthat can kind of be tailord to each person, because, honestly, everybody'sfinancial story is going to be different. How people think aboutfinances varies quite a bit. I'm sure, and so it sounds like this plan is somethingthat can really be tailored to each client. So if someone were to sit down with you ormaybe have a SOM call with you, what would be some good questions for themto ask when thinking about what plan would be work best for them? So we really have to look at theirincome now and theire projected income in the future. It's very important alot of times, people confused it to so right now, let's just sayhypothetically you making a hundred...

...housand dollars a year. Are you goingto need that hundred thousand dollars a year in the future, or you know I haveclients that want to retire and live in upstate, New York or in Mexico?Obviously, I's going to be a different lifestyle, so we need to lookspecifically how much asset you're going to need and retirement and whatwe do is we cater that specific plan for you, some people believe it or notneed half a million dollars a year when they retire, which is big, number crely, yeah. Exactly andother people are like you know I could get by on thirty SAN dollars a year, sowe really customize each plan for the specific person. Well and- and you know, everybody'slifestyle is different. There's different goals that I'm sure you runinto different clients, maybe wanting to travel or you know, buy specialthings wor their grandkids, so I'm Sartin to take that into a con as wellwhen speaking with clients right absolutely we look at travel. We loveat big time, actually travel something...

I always tell people they always when we were calculating the numbersthey for sure for always undercalculate how much money is going to be used fortravel. I find out where their family is located. You know and they're like.Oh, you know. I want to see my niece over here and I want to see mygranddaughter and I, like there's thats travel time. That's money. You know wehave to project money for that. We have to figure out exactly how much per yearand we got to add inflation. So, yes, travel is really important in additionto playing golf- and you know the leisurely activities that people want,but the travels verby very important for Su Golf will definitely be a partof my husband's retirement plan. He's a big golfer, so yeah and it really does sound like abig part of this- is just educating...

...yourself and trying to as best you canplead for the future and just be smarte about different things. I think a greatplace for someone to start in educating their themselves would be in puttingyour bookup and just grabbing a coffee and starting to read it because it does sound like you just have somuch to offer you rik your expertise, and so I would highly recommend thateveryone go and pick up a copy. It's by Robert Canon and it's called puttingyour retirement interst. First, a prioritized approach to protect yourfuture and turn your dreams into reality. You can pick it up on Amazonagain Robert. Thank you so much for being with me. Thank you very muchappreciated, thanks for listening to the puttingyour retirement interest. First podcast with financial expert and number oneAmazon, Bestelin author Robert Cannon to request a copy of Robert's bestselling book or to have a conversation with him about your financial futureconnect with Robert through his website cannon wealth, solutionscom.

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