Spoonie Financial Planning

I get asked all the time, why did I get into financial planning? The answer is simple, I love helping people. My advocacy allows me to help patients with chronic illness. This part of my life allows me to help people in a completely different way, with their financial futures.

On top of that, finance has always interested me. And while some 18 years olds who got a small high school graduation gift in cash, then quickly booked a trip or bought a new gaming system, I decided to open a Scottrade account. The way I looked at it, I was able to legally gamble at age 18, and while that sounds bad I wasn’t just waiting for random cards, I was able to read balance sheets and other reports in order to make my bets.

When you look at the numbers and how many people aren’t planning for their retirement properly, it’s scary. A recent stud from Bankrate’s Financial Security Index says

  • 21% of Americans are not saving anything at all
  • 20% of Americans are saving 5% or less
  • 28% of Americans are saving 6-10%
  • 10% of Americans are saving 11-15%
  • 16% of Americans are saving more than 15%

On top of this, I bring an interesting perspective on financial planning. Many financial planners look at the accumulation phase (the time and amount you are able to make money) as the most important, but in reality that is not the case.

This is why I like to put much of my focus on the distribution phase (the time and amount you are using money during retirement) as the most important. Protecting the investments someone has made for retirement and making sure they are able to be spent properly is where I come in.

Some interesting information that I have learned at Fortis Lux Financial

  • The average couple is currently spending $275,000 on out of pocket medical expenses during retirement
  • The average couple is also spending over $200,000 on long-term care during retirement
  • 75% of adults will need long-term care during their lifetime

These are just a few of the expenses everyone is facing later on in life. If you take these amounts out of your regular retirement savings or 401K accounts, many Americans won’t have much left.

This is why it’s important to have a balanced portfolio with a variety of investments, that also include protection planning as well.

Let my team of six financial advisers help you put a plan in place to make sure you are able to retire the way you would like, and not the way many of us fear.

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