Retirement Income Shift Getting the Most Mileage Out of Your Money
Produktdetaljer
Biografisk notat
For nearly 20 years, TIM SPARKS has helped families throughout the USA achieve their financial and retirement goals. Tim understands that seniors face many challenges when preparing for retirement. He created Sparks Financial Group, LLC to help retirees and pre-retirees manage the critical transition from asset accumulation to income distribution and preservation. Tim firmly believes that through financial education and conservative financial planning, he can help clients make informed decisions that better enable them to avoid costly mistakes, lower their tax liability, and increase the value of their estate. You hear him on his radio show, The Retirement Income Show with Tim Sparks, every weekend. Tim and his wife, Debbie, have a son and two daughters. They reside in Mt. Sterling, Kentucky.Retirement Income Shift Getting the Most Mileage Out of Your Money
Recently, I began working with a client who should have been living his best life. He had entered retirement just ten years earlier with a $1.2 million portfolio, a large family home, a luxury vacation home, and plans to someday leave his children a large estate. He and his wife enjoyed travel, treating family members to memorable vacations, participating in meaningful hobbies, supporting charities important to them, and hosting the best parties in town. This was the life he had worked, saved, and invested for decades to achieve. Yet as we looked at his current situation, he was in tears. That $1.2 million portfolio was down to $470,000. There was a very real possibility that if he didn’t make some major changes, he would run out of money within a few years.
I’m sure you don’t want this to happen to you. Instead, your retirement years become your “golden” years, when you have the money that you need to last the rest of your life. Throughout this book, you will learn how to use a conservative yet dynamic strategy to align your investments to reach your goals. By using the wisdom of math and logic, you can help assure yourself a comfortable retirement that lasts as long as you do.
By the end of this book, you will have:
- An understanding of how to use the Income + Growth = Total Return equation to make your investments last a lifetime.
- Learned how to use math and logic to determine the best investments for your specific needs.
- Learned why commonly accepted investment maxims shouldn’t be so commonly accepted.
- And been provided with specific strategies to make sure you have enough income in retirement to live the life you want to live.
You are going to hear countless ways to create income while you’re building your portfolio; unfortunately, there are only two ways that you will get income from your portfolio once you retire. The first way, and the most common, is engineering income by taking withdrawals from your assets. If you think about it, you can call each withdrawal a set amount of income for you to spend as needed. You can set these withdrawals on autopilot to be paid to you monthly. The question is: Where is the income coming from? I wrote this book to provide options for you to consider as you build, and then withdraw from, your financial portfolio.
Most people have focused on financial growth since they put that first $50 in a company-sponsored 401(k) plan. While this has probably served them very well over the past few decades, as you enter retirement you need to change tactics. Now you are taking money out rather than putting it in your goals are different, so your solutions need to be different.
A Word from the Author
Introduction
Chapter 1: Retirement—It’s All about Income
Chapter 2: Beware Conventional Wisdom—Five Myths to Ignore
Chapter 3: Don’t Trust Averages
Chapter 4: Risk Management—Protect Your Assets!
Chapter 5: Reverse Investing
Chapter 6: Maximizing Social Security
Chapter 7: Win, Divide, and Conquer
Chapter 8: Working with a Qualified Advisor
Conclusion
Contact Us
“If you need a strategy to assist you with cash flow during retirement, The Retirement Income Shift is a great resource for retirement planning at any stage.”
— Readers’ Favorite
"I know that my friend and colleague, Tim Sparks, has the drive, discipline, and passion to help his clients understand how to really take charge of their finances and achieve their retirement goals. Tim also has a natural gift for communicating complex ideas and information in an engaging, down-to-earth way that makes them easy to grasp. I promise you will recognize and appreciate this gift for yourself as you read Tim's book, The Retirement Income Shift: Getting the Most Mileage Out of Your Money. You will also learn about Tim's expansive knowledge of investing and the financial markets, along with his candid insights into Wall Street and the dangers of many commonly held beliefs about retirement planning. In his new book, Tim shares solutions he's been using for 15 years to help hardworking Americans confidently achieve or exceed their financial goals by making "the retirement income shift'."
— David J. Scranton, CFA®, CFP®, CHFC®, CLU®
Founder, Sound Income Group; Author of Return on Principle: 7 Core Values to Help Protect Your Money in Good Times and Bad and Retirement Income Source: The Ultimate Guide to Eternal Income
"For the first time working with a financial adviser, I feel confidence and trust in leaning on the advice received. Tim takes the time to understand my individual financial situation and goals and takes even more time to educate me in a way that I can rest assured that my finances are in good hands. I simply do not brood over the state of the economy or world as it relates to my financial future. Tim has put those concerns to rest, and I am finally at peace with my investments."
— Dr. James L. Borders, MD
"I would wholly recommend Tim Sparks. Tim has been my financial advisor for a number of years now and has been absolutely brilliant. He has guided me through developing my retirement financial plans including the setup of my retirement paycheck once I hang up my long-time career using the income method. In summary, he has made my money successfully work hard for me.
The income method of generating a retirement paycheck has worked out brilliantly for me. The concept of generating income from your portfolio is an old theme—but rarely is it actually used in today’s go-go market. Most people just try to artificially generate income through selling shares, which eventually leads to reverse dollar cost averaging by selling more shares when the market is down. This is devastating to [the goal of] ensuring that you do not run out of money in retirement. Stick with a proven way to generate long-term income by buying income-producing investments. This method just simply works!!!!!!""
— John McNew
Mining Engineer
"I had my portfolio with one of the major financial advisory firms and did not feel that they were managing my portfolio in a manner that would have me ready for my planned retirement in 6 to 8 years. Their focus was on mutual funds for growth and continued to assure me that I had time to recover from any downturns in the market, despite my concerns. I usually listened to their radio show on Saturdays while cutting grass and one Saturday I switched stations and Tim’s show was on.
After listening to his show, I realized that his information regarding retirement and retirement income, especially the I part of the TR formula, was the retirement planning method I was looking for instead of 'it will grow and you’ll be ok' advice that my former financial advisor provided. I called in and set up an appointment and the rest is history. We met with Tim, listened to his recommendations for our retirement plans, went over his projections with him, and realized that his advice and plan fit exactly into our retirement plans. We transferred our portfolios to Tim’s group and have been with him for over 4 years and could not be happier; our portfolios are generating the level of income as projected and, since I have not retired yet, the returns are being reinvested. In addition to not only being the best financial advisor that we have had over our careers, Tim has also become a close friend."
— Mike Castle
JD & Engineer
Recently, I began working with a client who should have been living his best life. He had entered retirement just ten years earlier with a $1.2 million portfolio, a large family home, a luxury vacation home, and plans to someday leave his children a large estate. He and his wife enjoyed travel, treating family members to memorable vacations, participating in meaningful hobbies, supporting charities important to them, and hosting the best parties in town. This was the life he had worked, saved, and invested for decades to achieve. Yet as we looked at his current situation, he was in tears. That $1.2 million portfolio was down to $470,000. There was a very real possibility that if he didn’t make some major changes, he would run out of money within a few years.
I’m sure you don’t want this to happen to you. Instead, your retirement years become your “golden” years, when you have the money that you need to last the rest of your life. Throughout this book, you will learn how to use a conservative yet dynamic strategy to align your investments to reach your goals. By using the wisdom of math and logic, you can help assure yourself a comfortable retirement that lasts as long as you do.
By the end of this book, you will have:
- An understanding of how to use the Income + Growth = Total Return equation to make your investments last a lifetime.
- Learned how to use math and logic to determine the best investments for your specific needs.
- Learned why commonly accepted investment maxims shouldn’t be so commonly accepted.
- And been provided with specific strategies to make sure you have enough income in retirement to live the life you want to live.
You are going to hear countless ways to create income while you’re building your portfolio; unfortunately, there are only two ways that you will get income from your portfolio once you retire. The first way, and the most common, is engineering income by taking withdrawals from your assets. If you think about it, you can call each withdrawal a set amount of income for you to spend as needed. You can set these withdrawals on autopilot to be paid to you monthly. The question is: Where is the income coming from? I wrote this book to provide options for you to consider as you build, and then withdraw from, your financial portfolio.
Most people have focused on financial growth since they put that first $50 in a company-sponsored 401(k) plan. While this has probably served them very well over the past few decades, as you enter retirement you need to change tactics. Now you are taking money out rather than putting it in your goals are different, so your solutions need to be different.
A Word from the Author
Introduction
Chapter 1: Retirement—It’s All about Income
Chapter 2: Beware Conventional Wisdom—Five Myths to Ignore
Chapter 3: Don’t Trust Averages
Chapter 4: Risk Management—Protect Your Assets!
Chapter 5: Reverse Investing
Chapter 6: Maximizing Social Security
Chapter 7: Win, Divide, and Conquer
Chapter 8: Working with a Qualified Advisor
Conclusion
Contact Us
“If you need a strategy to assist you with cash flow during retirement, The Retirement Income Shift is a great resource for retirement planning at any stage.”
— Readers’ Favorite
"I know that my friend and colleague, Tim Sparks, has the drive, discipline, and passion to help his clients understand how to really take charge of their finances and achieve their retirement goals. Tim also has a natural gift for communicating complex ideas and information in an engaging, down-to-earth way that makes them easy to grasp. I promise you will recognize and appreciate this gift for yourself as you read Tim's book, The Retirement Income Shift: Getting the Most Mileage Out of Your Money. You will also learn about Tim's expansive knowledge of investing and the financial markets, along with his candid insights into Wall Street and the dangers of many commonly held beliefs about retirement planning. In his new book, Tim shares solutions he's been using for 15 years to help hardworking Americans confidently achieve or exceed their financial goals by making "the retirement income shift'."
— David J. Scranton, CFA®, CFP®, CHFC®, CLU®
Founder, Sound Income Group; Author of Return on Principle: 7 Core Values to Help Protect Your Money in Good Times and Bad and Retirement Income Source: The Ultimate Guide to Eternal Income
"For the first time working with a financial adviser, I feel confidence and trust in leaning on the advice received. Tim takes the time to understand my individual financial situation and goals and takes even more time to educate me in a way that I can rest assured that my finances are in good hands. I simply do not brood over the state of the economy or world as it relates to my financial future. Tim has put those concerns to rest, and I am finally at peace with my investments."
— Dr. James L. Borders, MD
"I would wholly recommend Tim Sparks. Tim has been my financial advisor for a number of years now and has been absolutely brilliant. He has guided me through developing my retirement financial plans including the setup of my retirement paycheck once I hang up my long-time career using the income method. In summary, he has made my money successfully work hard for me.
The income method of generating a retirement paycheck has worked out brilliantly for me. The concept of generating income from your portfolio is an old theme—but rarely is it actually used in today’s go-go market. Most people just try to artificially generate income through selling shares, which eventually leads to reverse dollar cost averaging by selling more shares when the market is down. This is devastating to [the goal of] ensuring that you do not run out of money in retirement. Stick with a proven way to generate long-term income by buying income-producing investments. This method just simply works!!!!!!""
— John McNew
Mining Engineer
"I had my portfolio with one of the major financial advisory firms and did not feel that they were managing my portfolio in a manner that would have me ready for my planned retirement in 6 to 8 years. Their focus was on mutual funds for growth and continued to assure me that I had time to recover from any downturns in the market, despite my concerns. I usually listened to their radio show on Saturdays while cutting grass and one Saturday I switched stations and Tim’s show was on.
After listening to his show, I realized that his information regarding retirement and retirement income, especially the I part of the TR formula, was the retirement planning method I was looking for instead of 'it will grow and you’ll be ok' advice that my former financial advisor provided. I called in and set up an appointment and the rest is history. We met with Tim, listened to his recommendations for our retirement plans, went over his projections with him, and realized that his advice and plan fit exactly into our retirement plans. We transferred our portfolios to Tim’s group and have been with him for over 4 years and could not be happier; our portfolios are generating the level of income as projected and, since I have not retired yet, the returns are being reinvested. In addition to not only being the best financial advisor that we have had over our careers, Tim has also become a close friend."
— Mike Castle
JD & Engineer