Retirement Income & Investment

When retired, you move from accumulating savings to making withdrawals from savings to supplement Social Security.The low interest rates of the last decade make it difficult for retirees to live off their savings without drawing down their principal. It’s important you have a plan to make your savings last your entire lifetime.

Using annuities, you can be guaranteed a lifetime income. Annuities provide protection and guarantees against some very large concerns: market losses, outliving your savings, and not having enough money to pay long-term care expenses.

Questions we can answer

Make Your Money Last As Long As You Do

When you turn 65, and then 75, and you’re looking forward, income and the guarantees of income will become more important to you than investment returns. Cardinal can help you create a diversified asset portfolio that will last your entire lifetime.

Cardinal Lessons on Retirement Income

Turn Your IRA/401k Into A Pension Check

Welcome to our comprehensive guide on transforming your retirement savings into a dependable pension check, a crucial topic for Baby Boomers and retirees seeking financial stability. In this video, Hans Scheil and Tom Griffith discuss the pressing concern many face today: the fear of outliving their retirement funds. Click on our video to learn more!

SPIA-Single Premium Immediate Annuity

Welcome to our latest Cardinal lesson where we talk about essential financial planning tools to secure a steady income stream during retirement. In today's video, Hans Scheil and Tom Griffith discuss the pivotal role of annuities and Social Security in retirement planning.

7 Worries – Retirement Planning

Welcome to our special video where we explore the essence of what we do at Cardinal. Our journey on YouTube started somewhat accidentally, but it's blossomed into a thriving community. Today, we focus on the core of our mission: addressing the seven critical worries in retirement. These worries aren't just about what keeps you up at night; they're about making informed decisions in pivotal areas of your retirement planning, often in your 60s, but sometimes earlier or later.

3 Retirement Income Annuities

This video aims to clarify common misconceptions about annuities, offering practical examples and 3 strategies for incorporating them into your financial plan.

Sequence of Returns Risk

In today's discussion, Hans and Tom shed light on the sequence of returns risk and its implications during retirement. It's not just about the average return but the order in which these returns happen. The risk is particularly pronounced when poor market returns strike early in one's retirement sequence.

Guaranteed Income – 3 Buckets of Money

Are you worried about not having enough money for your retirement? Meet Jake and Sally, our case study couple who face the same concern. In this video, Hans and Tom break down how to secure a guaranteed income for retirement using a 3-bucket strategy. They use Jake and Sally's real-life example with their $930,000 in IRA/401K, and how you can adapt this strategy to your retirement plan.

Retirees Running Out of Money Late in Life

In today's episode, Tom and I dive deep into what many consider the greatest retirement fear: running out of money. It's the elephant in the room that many of our clients are hesitant to address initially, but it's a fear that dictates their behaviors, decisions, and overall retirement planning. Remember, the right knowledge can pave the path to a stress-free retirement. #RetirementPlanning #FinancialSecurity #AvoidingRetirementPitfalls

Rollovers – 401k,403b,IRA,Pension Cash out ? IRA

In this video, we discuss the importance of correctly handling your 401k, 403b, IRA, or pension plan funds' rollover or transfer to a cash-out option, now widely offered by employers at retirement. Tom and I highlight potential tax pitfalls, the significance of custodial transfers, and we provide guidance on setting up an IRA account under professional management. We also explore the advantages of rolling over to an IRA, including diverse investment options, prompt market response, and improved tax planning, along with situations where retaining a 401k may be advantageous. This episode aims to guide your retirement funds' decision-making process, emphasizing problem prevention over solution.

Tax Free Income For Life @ 70 and Beyond

1. Delay Social Security: Wait until 70 to start receiving Social Security benefits, resulting in a higher monthly payment. During the waiting period, the case study couple can secure replacement income by investing $362,000 of their 401k into a five-year payout annuity, which pays them $6,600 per month after taxes. 2. Smart Investment Allocation: To optimize their savings, we suggest allocating funds into multi-year guaranteed annuities (MYGAs) with a fixed interest rate of 5.1%. This strategy offers growth potential while maintaining liquidity for any future needs. 3. Income Annuities: To ensure a stable income for life, we propose placing $500,000 of their 401K into income annuities. The longer they wait to start the income, the higher their monthly payment. Additionally, we explore the option of converting a portion of their traditional IRA into a tax-free Roth IRA for future incom

10 Principles Investing Success

10 Principles of Investing Success: 1)Embrace market pricing 2)Don?t try to outguess the market 3)Resist chasing past performance 4)Let the markets work for you 5)Consider the drivers of returns 6)Practice smart diversification. 7)Avoid market timing 8)Manage your emotions 9)Look beyond the headlines 10)Focus on what you can control. We learned these principles from Dimensional. Watch the video!

Guaranteed Income For Life 2023

As Financial Planners, we help retirees plan for and manage uncertainties like a health crisis, inflation, death of the first spouse, down markets, income taxes, running out of money, RMDs, Long-Term Care????.. The fear of running out of money is a big worry of people coming into our system. This video outlines a tool we use, with part of a couple?s savings, to start a monthly income that lasts for the remainder of their lives. No reduction for the survivor and it pays even more to a single person. Watch the video!

Seven Worries in Retirement Explained

The SEVEN WORRIES in retirement are Social Security, Medicare, Long-Term Care, IRA/401k, Retirement Income and Investment, Estate Planning, and Taxes for Retirees. Each of them require you to understand and deal with one or more federal & state agencies and programs. The Social Security Administration, Health & Human Services, IRS, State Tax Authority, State Insurance Department???.All SEVEN WORRIES come at you when facing retirement and they?re mixed together like alphabet soup! Lots of government regulations, decisions to make, acronyms, sales people???.Our business at Cardinal is making sense of the SEVEN WORRIES and helping you develop a strategy to deal with all SEVEN of them. We are licensed in 50 states and DC and serve clients by ZOOM and phone.

The Cardinal Guide To: Retirement Income

Listen to learn:

As you age, we recommend you stop chasing return and start managing risk. Diversification is key to ensuring your money is protected against volatile markets. We can help you determine your risk tolerance and help you invest your money accordingly.

Understand your risk tolerance and what you are comfortable with. Cardinal has a risk tolerance profile that helps you determine where you need to be. The closer you are to retirement, or if you’re already retired, the less risk you want to take.

Fixed indexed annuities with income riders are generally misunderstood. They guarantee you will never lose principle from market losses plus guarantee an income you can’t outlive.

If you need long term care, paying for it yourself will create a big dent in your savings and income. Many fixed indexed annuities have long-term care enhancements and don’t require you to answer health history questions.

MYGAs (Multi-Year Guaranteed Annuities), commonly referred to as CD annuities, are increasingly popular, especially as interest rates remain low. A MYGA is a fixed annuity designed for accumulation. MYGAs offer a predetermined and guaranteed interest rate for a set period of time. MYGAs are currently paying significantly higher interest than CDs. You don’t pay tax on the MYGA interest until you withdraw it.

If most of your money is in an IRA, a simple way to create a monthly income is to roll some of this money into an annuity. If you do this the correct way, you could also lessen your tax bill, spreading the income over several years. You can also learn about Required Minimum Distributions and their impact.