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Location:Stoney River;Cool Springs,Franklin TN
Sponsor:Standley Financial Group
Topic:Financial Longevity in Retirement
Credentials:Certified Financial Planner (CFM). Securities were offered through D.H.Hill Securities.
Appointments:Guests were given an option to schedule a free consultation either in home or in Standley's office.
Topics: The guarantees and safety of fixed and indexed insurance products and financial longevity in retirement.
Discussion:Income>Accumulation,Preservation,Disrtibution. Most of you are in the preservation phase. Accumulation-Minimize fees & expenses,control taxes,outpace inflation, let money grow.Tax control-power of tax deferral. High cost of inflation (3% rate since 1946).It's hard to outpace inflation-stocks best bet but theh're volatile. Bear market. Gains good but losses HURT. Foundational money should be placed in fixed financial products with a high degree of safety to avoid losses but that potentially miss out on market participation.Win by not Losing. Warren Buffet's two rules.FIA- Fixed Indexed Annuity. Never lose money due to market downturn- automatically locks in gains.No upfront sales charges, annual fees or expense. Diversification-Fixed Interest rate,Equity Indexed-Linked, Bond Indexed-Linked. Guaranteed first year bonus +5%-11%.Guaranteed lifetime benefit. Flexible cash flow and liquidity-multiple income and withdrawal options...checkbook access. Long Term Care-Discusses various choices-Medicaid,family assistance,self fund, transfer the risk. Asset-based LTC solutions. LTC Ins vs Asset-based LTC coverage.Stretch & Roth IRA Planning. Comparison of traditional IRA and Roth IRA.Financial Longeivity Recipe-Risk of inflation and taxation eroding savings,Risk of market downturns depleting needed assets and income,Risk of outliving your assets and income,Risk of excessive taxation upon distribution of estate, Risk of long term care.
Meal: Stoney River's typically excellent house salad with honey mustard dressing and their piping hot dinner rolls. The main course was a generous portion of salmon, mashed potatoes, green beans and fresh asparagus. My dessert was several slices of creamy cheasecake topped with blueberries on a graham cracker crust.
Summary:The 1 hour,30 minute presentation was an excellent presentation on the use of annuities on the preservation and growth of assets needed for retirement. Fine print in the handout provides that "This is an insurance presentation". There may have been too much material covered in the time alotted, but that was offset by the fact that Mr. Standley is an excellent speaker who presented his material in a clear, concise manner.
Thanks for sharing your observations. It's good to know Free Lunch Monitors like yourself are out there to help us become safer and wiser investors.