Retirement Goals: Phil and Debbie’s Recipe for Retiring Rich

Phil and Debbie are both in their 50s. They’ve been married for 31 years. Their kids are grown, they’ve got a decent nest egg, and all-in-all life’s pretty great.

At least it was, until they recently started thinking about retirement.

The closer retirement gets, the more they find themselves grappling with concerns. Like most people approaching a major transition, they worry about their financial future. They wonder if they’ve saved enough to maintain their lifestyle. They worry whether they’ll have enough to stay ahead of inflation.

Phil and Debbie spent a lot of time exploring the challenges they’re facing, then finding simple solutions to deal with their concerns. Following are some of the services they explored to reduce their stress and ensure their golden years will be not just OK, but the most awesome part of their lives.

Hopefully their tips will be useful to you as well.

1. They diversified their savings

After doing a little research, Phil found that one of the best ways to protect their savings was moving some into investments that can go up when others are going down. For example, stocks tend to do poorly when inflation and interest rates are rising and there’s political turmoil brewing, but one investment that shines in that scenario is gold.

But Phil quickly discovered that not everyone in the gold business is on the up-and-up.

He decided on Preserve Gold. It’s a family-owned company committed to helping investors protect their wealth and retirement with physical precious metals. They offer gold, silver, platinum and palladium coins and bars delivered directly to your home. Plus, you can get up to $25,000 in complimentary gold and silver, along with waived IRA storage fees for up to 5 years!

They also lead the industry in retirement account rollovers and will help to facilitate a transfer from your current custodian into a precious metals IRA.

Preserve Gold will beat any competitor’s price on gold and silver, and offers fast, free, insured shipping. And once you’re a client, they’ll buy back your metals and charge no fees.

Here's where Phil got more information.

2. They got a second set of expert eyes

When they started saving years ago, Phil and Debbie managed their own investments. But as their nest-egg has grown, so has their realization that they could use some professional help to oversee, preserve and grow their savings.

A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial advisor. That’s twice as much!

Even if you don’t want help picking investments, an advisor can help lower your tax burden, create a comprehensive financial plan, maximize your Social Security, help with estate planning and make sure you’re on the right track. They can also be there in case one day, you’re not.

If you’ve got at least $100,000 in investments, do what Phil and Debbie did: Check out a free service called SmartAsset. You fill out a short questionnaire and instantly get matched with up to three vetted financial advisors in your area, all legally bound to work in your best interests.

Using SmartAsset only takes a few minutes, and in most cases you’ll be offered a free consultation.

Here's where they got more information.

Please carefully review the methodologies employed in the Vanguard white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.”

3. They provided for their kids and grandkids

Even though Phil and Debbie’s kids are grown, they still want to leave them a legacy; especially their grandkids. That’s why they explored life insurance.

Enter SBLI (Savings Bank Life Insurance). These folks make getting life insurance easier than ordering pizza. Just a few clicks from your couch, no doctors poking or prodding. Answer some quick health questions, and boom — a personalized quote in under 5 minutes.

With SBLI, you can snag term life insurance worth up to $5 million. Or get a permanent policy with whole life. Either way, it might cost you less per month than your daily caffeine fix.

Over 1,000,000 families have trusted SBLI with over $187 billion in coverage since 1907. They’re legit and they’ve got your back.

Here's where Phil and Debbie got more information and a free quote.

4. They protected their nest-egg from health care costs

One of Phil and Debbie’s chief concerns was burning through their nest egg in the event either or both of them need long term care. According to the U.S. Department of Health and Human Services, 7 in 10 people who turn 65 today probably will.

“But won’t Medicare take care of all that?” Nope. Medicare doesn’t cover long-term custodial care — and paying for it out of pocket could take a huge chunk of your retirement savings. That, plus inflation, could mean near or total depletion of your nest egg.

Without long-term care insurance, your options aren’t great: running through savings, borrowing money, burdening your family with your care, and possibly losing independence because you can’t live on your own.

One place to find long-term care insurance is GoldenCare. (Unless you live in the four states where GoldenCare doesn’t operate: Alaska, Florida, Hawaii and Washington.)

Here's where they got more info.

5. They discovered this “secret” source for discounts

While researching various ways to save as seniors, Phil and Debbie rediscovered what they’d heard of, but never acted on. They joined AARP.

Members get discounts on hundreds of things, like:

• Up to $200 per person off flights
• Up to 30% off rental cars
• Up to 15% off restaurants
• Up to 20% off hotels

You’ll also save on eyeglasses, prescriptions, meal delivery and lots more. AARP also offers a Fraud Watch Network, job listings, retirement planning tools, games, and tons of information, programs and resources.

Anyone trying to save money can’t afford not to join AARP, especially since the cost is as low as $12 per year with auto-renewal. Click here and check it out.

6. They took care of their loved ones

Getting a will was something Phil and Debbie talked about occasionally over the years, but never seemed to get around to actually doing.

But their research convinced them now was the time.

Remember, when you’re gone, your problems will be over. But the problems for the ones you leave behind will just be beginning.

That’s why everyone should have a will, a trust or both. It doesn’t take much time and doesn’t cost much money. But it will save a ton of both for your family.

A will is a simple legal document that outlines how you want your assets to be distributed, and you can have one in minutes for $199.

A trust allows you to place conditions on how and when your assets are distributed to your beneficiaries. You can get one of these created for as little as $499.

Phil and Debbie spent an hour or two preparing these documents, to provide for their family, minimize potential conflicts, and potentially reducing estate taxes. Here's where they got it done.

7. They found their share of $1.65 trillion

Over the course of their careers, Phil and Debbie diligently invested in their employers’ 401(k) plans. However, each time they changed jobs, they were left wondering if they had inadvertently left behind retirement savings in their old 401(k) accounts, much like the estimated 1.65 trillion in orphaned 401(k)s left behind by other people.

As they approached retirement, Phil and Debbie knew they needed to consolidate their scattered 401(k) accounts. By doing so, they could gain a better overview of their total retirement savings and make informed decisions about their financial future.

Perhaps some of that money is yours also? If so, it’s time to bring it home.

A company called Capitalize is now offering free help to roll your old 401(k)s into an IRA of your choice, giving you more control, more investment choices, and way better organization.

And the best part? It couldn’t be easier.
Step one: Tell Capitalize where you’ve worked in the past.
Step two: Pick a rollover IRA to transfer the money into. (They help you compare options.)
Step three: Sit back and let Capitalize do the rest!

If you’ve left an old 401(k) at a previous employer, either because you forgot it, or because you’re not sure what to do with it, take a few minutes and let Capitalize’s free service make your life a lot easier. Try it right now!

8. Forget savings accounts & CDs — there’s a better way

Phil and Debbie were once like many others – heavily relying on certificates of deposit (CDs) for their retirement savings. However, over the years they learned about the potential benefits of annuities and decided to diversify their portfolio.

Are you still relying on CDs for retirement savings? If so, it’s time to reconsider. With rates soaring up to 6.9%, annuities offer safety, and their interest accumulation beats CDs by 20% or more.

What can 20% more interest mean for you? Let’s look at an example.

Today’s CDs max out at about 5%. So, if you earn 5% on $100,000 over ten years, you’ll end up with about $163,000. But if you can earn 6.9% with an annuity, you’ll have nearly $195,000. That’s $32,000 more money you could use to travel, fix up the house or spend on whatever you want.

Annuities also offer tax-deferred growth for turbocharging compounding. And they can do something CDs can’t — they can be converted into a stable monthly income for life.

Ready to learn more? Get unbiased advice and info at Annuity.org. And if you like what you see, schedule a free consultation with a trusted retirement planning advisor.

Nothing to lose, and potentially a lot to gain. Check out Annuity.org today.