PART 2 OF 3: Money Management To Create The Retirement Of Your Dreams

What would happen to your retirement if an unexpected life event caused a major financial disruption?

Are you prepared to handle unforeseen medical expenses, home repairs, or family emergencies in retirement?

How confident are you that your current financial plan is ready for life’s twists and turns?

Hi there, I'm Jason Bergquist, the owner and founder of RetirementOfYourDreams.com.
I'm thrilled to kick off Part 2 of our series ....

Step 9 of the Retirement Of Your Dreams Blueprint is all about Money Management.

This step is where we bring together everything we've discussed and implement Steps 1 through 8, creating a comprehensive plan for a secure and fulfilling retirement.

We’ll break it down into 3 key areas:

1. Identifying Your Guaranteed Income Sources: By now, you should have a clear picture of the income sources you can count on in retirement.

Knowing these and their role in your financial plan is essential to building a stable retirement foundation.

2. The Importance of Retirement Income Protection: Protecting your income sources ensures you’re prepared for unexpected life changes.

Retirement income protection gives you peace of mind, knowing you’re safeguarded against risks that could disrupt your financial stability.

3. Envisioning the Retirement of Your Dreams: Ultimately, achieving your ideal retirement is about implementing these foundational elements and identifying guaranteed income sources to support your goals and lifestyle.

If you missed Part 1, click HERE to catch up!

Throughout this series, we're dedicated to providing practical insights and expert advice to empower you to live the Retirement Of Your Dreams!

Our goal is to instill confidence in your financial future and give you a sense of control over your retirement journey.

Whether you're just starting your retirement planning or looking to optimize an existing strategy, join us as we embark on this journey together.

The Retirement Of Your Dreams awaits ...

... and we're here to help you make it a reality!

If you're ready to take the next step toward the Retirement Of Your Dreams, don’t hesitate to reach out and contact us today.

Before we dive in, let me introduce myself if we haven't had the pleasure of meeting yet.

I'm Jason Bergquist!

I empower individuals and families to create the Retirement Of Their Dreams.

I've guided people through the markets' ups and downs for over twenty years.

My goal is to educate and empower people ...

... to help them structure a retirement that aligns with their dreams and restores hope for their financial future.

I discovered my calling in 2010, during a challenging time.

While going through a divorce and facing financial hardship, I realized I wasn’t practicing what I preached.

Determined to make a change, I committed to practicing what I preached, becoming an Independent Financial Professional ...

... and earning my designation as a Certified Financial Fiduciary.

This experience has allowed me to consistently prioritize my client's best interests in all that I do.

Today, I lead a team of experts dedicated to empowering you to create the Retirement Of Your Dreams.

Again, we’re kicking off Part 2, “Maximizing Financial Security in Retirement: Essential Money Management Strategies,” of our 3 Part series:

"Money Management to Create the Retirement Of Your Dreams."

Let’s jump in ...

The first crucial step in your journey toward a secure retirement is to take control of your financial future by identifying your guaranteed income sources.

You can rely on these income streams in retirement, such as Social Security, pensions, and annuities ...

... that provide a steady and predictable flow of income!

These guaranteed income sources will form the foundation of our discussion.

If you haven’t yet met with a retirement planning expert or structured a detailed plan, I highly encourage you to do so.

Working with an expert provides a personalized plan that aligns with your unique financial
situation and goals ...

... ensuring you’re on the right track to achieve the Retirement Of Your Dreams!

A professional can help you understand the various income sources available, determine the best time to receive them, and develop strategies to maximize their benefits.

For those of you following along with us in this process, you’ve already taken steps to identify these guaranteed income sources.

This commitment will set you up for a confident retirement journey.

To illustrate the importance of this, let me tell you more about Karen, a 65-year-old retiree who has diligently planned her retirement for years.

Karen had a well-rounded mix of guaranteed income sources.

She could rely on Social Security and a pension and invested in annuities to ensure a steady income throughout her retirement.

To refresh you on Karen’s story, we had many critical elements of her financial plan before her husband passed away.

The tragic accident that led to her husband’s passing was not something anyone could have predicted ...

... it wasn’t an age or health-related issue; it was a sudden, heartbreaking event.

But because we had established a solid plan, Karen didn’t have to panic or make rushed financial decisions in the wake of this tragedy.

This foundation allowed her the time she needed to process her grief without added financial stress.

We have already turned on her Social Security benefits as part of the plan.

We identified three other income streams, in addition to Social Security, that she could activate when the time was right.

Over the past few years, we’ve decided to activate one of these additional income streams.

This provided her with an extra layer of financial security, a steady monthly income that further cushioned her finances.

These will be available to Karen if future needs arise, giving her additional flexibility to adapt to life’s changes and demands.

Karen also had other goals and needs.

She wanted to sell her home but needed to replace the roof first, and she had some travel plans she wanted to fulfill.

Because she had set up these income streams with a timeline in mind, she could take loans and withdrawals from her accounts to cover these costs without disrupting her long-term financial plan.

This flexibility allowed her to cover necessary expenses and enjoy meaningful experiences while controlling her finances.

Karen’s strategic planning empowered her to live the retirement she envisioned.

Through her ongoing consultations with her Retirement Of Your Dreams Expert, Karen has a clear roadmap for when to access each income source.

With this solid plan, she can feel confident that she’ll never outlive her money.

Retirement income protection is a critical pillar of your financial plan, serving as a safety net to cover unexpected expenses and changes in your financial situation.

This layer of protection provides financial security and peace of mind, allowing you to enjoy your retirement years with confidence and calm.

When I meet with clients, I find that other advisors often overlook the protection side of retirement planning.

Consider all the unforeseen future expenses that can arise.

We anticipate some of these, like inflation and market fluctuations.

... we know they’re coming, but we don’t know precisely how severe they will be.

Inflation could climb steadily or suddenly spike.

The stock market will experience ups and downs, but the magnitude and timing of those shifts are unpredictable.

And there’s always the potential for tax increases or unforeseen medical expenses.

Another vital part of protection involves planning for a death benefit, whether it’s intended for a surviving spouse or as a legacy for your children, contributing to generational wealth.

As I mentioned, Karen has several income streams she can turn on as needed, whether for necessary expenses like roof repairs or fulfilling personal goals like traveling.

These income streams are structured to serve a dual purpose ...

... they’re there to provide her with regular income and function as long-term care coverage.

This setup means that if Karen encounters substantial medical expenses in the future, her income can double to help cover those costs.

Unlike some “use-it-or-lose-it” long-term care plans that can feel like a gamble, this approach integrates the protection into her retirement income streams.

Karen can continue receiving her income for life, and if a medical issue arises and she qualifies, her monthly income from specific sources can increase, effectively doubling to help with those medical bills.

Because if there’s one guarantee in life, it’s change ...

... and, ultimately, mortality.

By preparing for whatever the future holds, we’re setting you up with the resilience needed to handle life’s uncertainties.

This part is my favorite because it’s about bringing dreams to life.

This is where people truly live the retirement they’ve always envisioned!

Let me continue Karen’s story as I’ve been sharing her journey.

One of Karen’s big dreams was to go on a cruise.

Over the past few years, we’ve chatted about different cruises, the places she’s visited, and her bucket-list destinations.

She wanted to bring her sister along, someone who had always wanted to go but felt it was out of reach financially.

So, Karen gave her sister the gift of this unforgettable experience.

She used funds from one of her income streams, knowing she had the flexibility to make her and her sister’s dreams ... come true.

Though the trip is still in the planning stages, Karen is overjoyed at the prospect of experiencing the cruise herself and sharing it with her sister.

She lights up every time she talks about it, thrilled that her retirement plan has enabled her to bring this vision to life.

Pam’s retirement plan allowed her to retire five years earlier than expected.

For Pam, retirement meant fulfilling her lifelong dream of travel, just like it is for many people.

One of her first big trips was a dream vacation to Hawaii with her girlfriends, sisters, and mother.

They had a fantastic time, and it was everything she had hoped for.

As Pam settled into retirement, she realized something important.

Having a well-structured retirement plan in place ...

... knowing her income needs and wants were securely covered ...

... gave her something invaluable: TIME.

Pam was a nurse who worked in a hospital, and, as it turned out, we managed to get her retired just before the COVID-19 pandemic hit.

Pam was ecstatic that she didn’t have to navigate the complexities of going to work and worrying about quarantine protocols.

... or how to safely see her kids and grandkids during uncertain times.

Pam found herself with the time to support her daughter and grandchildren. Her daughter was going through a challenging divorce and needed to work to support her family.

Pam was able to step in and be there as a grandmother, helping to care for her grandkids and providing stability during a difficult time.

What Pam wanted me to share goes beyond simply ticking items off a bucket list.

While fulfilling those dreams is part of it, the true gift of retirement is having the time and freedom to be present when it matters most ...

... for family, yourself, and the things that bring joy and purpose.

She was overjoyed that she didn’t have to return to work, allowing her to fully embrace her role as a grandmother and support her daughter through a tough transition.

These stories aren’t just hypothetical scenarios we discuss in our Retirement Of Your Dreams community.

My clients aren’t just dreaming of these things ...

... they are actively living them.

They’re embracing the retirement of their dreams ...

... whether it’s the one they initially envisioned or the one they’ve adapted to as life unfolded.

“Maximizing Financial Security in Retirement: Essential Money Management Strategies,” Part 2 of our 3-Part series: 

1. Identifying Your Guaranteed Income Sources 

2. Your Retirement Income Protection 

3. How to Live the Retirement of Your Dreams

Let’s ensure you’re prepared to live the retirement you’ve envisioned ...

... or, as Pam’s story has shown, the one you may need for yourself and your loved ones.

The ability to do so is within reach.

So, take a moment to think through what that looks like for you.

Schedule a meeting with your Retirement Of Your Dreams Expert and start shaping your desired retirement.

You can take control of your financial future by overcoming initial jitters and embracing change.

Timing may not always be perfect, but having a well-thought-out plan and acting is vital.

Whether it’s exploring in-service distributions, transitioning your retirement funds, or understanding market fluctuations, our team of Retirement Dreams Experts is here to support you every step.

If you missed Part 1 of this series, click HERE to catch up!

Stay tuned for Part 3 next week, where we’ll dive deeper into the intricacies of Money Management.

We’ll explore the “Complete Money Management Blueprint: Preparing for Life’s Unexpected Turns in Retirement.”

Thank you for trusting Retirement of Your Dreams to be your partner on this critical journey.

I’d love to know your BIGGEST takeaway from today’s video.

Share your thoughts in the comments below!

I’m Jason Bergquist.

And we’re dedicated to empowering YOU to LIVE the Retirement Of Your Dreams!