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

Are you confident your retirement plan will provide enough income to last a lifetime?

Have you considered how unexpected medical costs could impact your financial security in retirement?

Is your retirement strategy prepared to keep up with inflation and unpredictable market conditions?

Today, I’m excited to bring you the third and final part of our comprehensive three-part series, "Money Plan To Create The Retirement Of Your Dreams."

This series is designed to equip you with the knowledge and strategies necessary to build the retirement you've always envisioned. 

We'll review how to ensure you don't outlive your money by covering these crucial areas: 

1. Uncovering guaranteed income streams 

2. Preparing for potential medical costs in the future 

3. Understanding inflation and market conditions in retirement

If you missed Part 1, click HERE, or Part 2, click HERE to catch up ...

Throughout this series, we've been sharing practical insights and expert advice that you can immediately apply to your retirement planning.

We aim to empower you to create a financially secure and personally fulfilling retirement.

Whether you're just starting your retirement planning journey or looking to enhance your current strategy, I invite you to join us on this final step.

Your unique circumstances and aspirations are at the heart of what we do, and we're here to guide you every step of the way.

The Retirement Of Your Dreams awaits ...

... let’s work together to make it a reality!

Before we dive in, let me introduce myself if we haven’t met yet.

I'm Jason Bergquist!

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

I've been doing this for over twenty years, navigating the ups and downs of the markets.

My goal is to help educate people, empowering them to understand how to set up the retirement of their dreams and bring hope back into their lives.

I realized this was my calling in 2010 during a challenging time, going through a divorce. I found myself at a financial low point and realized I wasn’t practicing what I preached.

I committed to practicing what I preached and became an Independent Financial Professional …

…and a Certified Financial Fiduciary.

This experience allowed me always to put my clients' best interests first.

Now, I work with a team of experts to empower you to create the Retirement Of Your Dreams.

Again, we're diving into Video 3 of our 3-part series:

Today, we’ll cover three crucial areas:

1. Uncovering guaranteed income streams

2. Preparing for potential medical costs in the future

3. Understanding inflation and market conditions in retirement

So, how do you ensure you don’t outlive your money? 

Let’s dive into each point ....

I shared a story earlier about the pilot and the importance of feeling secure.

Imagine sitting on a plane, and the pilot says there’s only a 40 percent chance of safely reaching the destination.

Would you feel comfortable staying on that plane?

Of course not.

Now, think about this in terms of your finances.

If we reviewed your retirement plan and discovered there was only a 60 percent chance your money would last until you turned 80, would that give you peace of mind?

Probably not.

But what if we could raise that percentage to 95 or even 100 percent?

What if we could help you feel confident that your money would last even if you lived to age 100?
That’s exactly the conversation we want to have with you.

As I work with each client, we focus on creating a plan that maximizes security and guarantees income, helping you face the future confidently.

We’ll work together to uncover what guaranteed income streams exist for you and explore how we can set them up effectively.

Our goal?

To get you as close as possible to a 100 percent guaranteed scenario ... 

... where you won’t have to worry about running out of money, no matter how long you live or what surprises the future may hold. 

Of course, we’re not magicians, and there’s no way to guarantee every possible outcome.

But we’ll do our best to provide you peace of mind and a reliable financial foundation.

... Social Security.

If you believe Social Security will still be available when you’re ready to take it, that alone can be a source of guaranteed income.

Some of you might also have a pension, although pensions are becoming increasingly rare.
But here’s the exciting part:

We want to explore the possibility of setting up as many as 6 streams of guaranteed income in your retirement.

Imagine that! Most people I work with start with one or two guaranteed income sources.
But if we could increase that number ...

... getting you closer to five or six streams, wouldn’t that add another layer of security?

And what if some of those income streams could even be tax-free?

Think about it.

How many guaranteed income sources would you feel comfortable with? 1? 2? Or would you prefer the confidence of having 5 or 6?

Reach out to your Retirement Of Your Dreams Expert and discuss your goals.

We’ll work with you to design a scenario tailored to your needs, helping you set up and secure those income streams for a worry-free retirement.

One of the critical elements we must include in our retirement plan is addressing future medical costs.

Specifically, long-term care and healthcare scenarios that can quickly become very expensive.

Ensuring you don’t outlive your money in the face of rising medical expenses is crucial.

These costs can quickly grow and add a layer of financial stress during retirement.

For more details, refer to my earlier video on money protection, in which I discussed this topic extensively.

I’ve mentioned before that I've been working with my in-laws to set up a retirement plan, a journey we’ve been on for over 16 years.

Unfortunately, my father-in-law recently passed away, but this experience underscored the importance of everything we had prepared.

As his health declined, he faced dementia, multiple hospital stays, time in rehab centers, and, ultimately, hospice care at home.

Naturally, these scenarios brought increased costs for my mother-in-law and our family, but we had financial solutions ready because we had planned.

We had set up specific income streams that provide enhanced payouts during medical situations.

This allowed my mother-in-law to receive higher monthly payments when faced with these significant healthcare expenses.

She expressed immense gratitude for financial support, especially during such emotional and physical strain.

I believe almost every family has faced or will face similar situations.

These are conditions we see all too often ... Dementia, Parkinson’s, or even prolonged battles with cancer. 

Most of us know someone affected by these conditions.

His brother’s wife, only 40 years old and the mother of three young children, was diagnosed with cancer.

Despite being young and seemingly healthy, she endured months of treatment but, tragically, passed away within eight months.

These are sobering reminders of why planning for long-term care and medical expenses is essential.
It’s not just about financial stability ...

... it’s about peace of mind for you and your family during difficult times.

These times of serious illness or caring for a loved one can be emotionally draining, and they often come with significant financial strain as well.

Not only may you or a family member be unable to work, but the medical bills add up quickly, making an already tough situation even more challenging.

What makes these scenarios even more complex is when health issues, like a long-term cancer diagnosis, stretch out over years.

The ongoing treatment and associated costs can be overwhelming.

Still, if additional funds aren’t specifically designated for medical and long-term care costs, these expenses can drain your savings, potentially leading to financial hardship ...

... even bankruptcy.

This is why it’s essential to have a plan in place to manage potential long-term care costs.

When you meet with a Retirement of Your Dreams expert, ensure this topic is part of the conversation.

We want to help you safeguard your future by building a financial buffer for these medical expenses.
Don’t wait to address this crucial aspect of retirement planning.

Contact us today to discuss how we can create a plan to protect you and your family from these potential costs.

Statistics show that around 70 percent of people over the age of 65 will require some form of long-term care.

This means there’s a strong chance that either you or your spouse will need this assistance.

Let’s make sure you’re prepared.

Let's talk about inflation and market conditions ...

... two factors that can significantly impact your retirement if not planned for.

I’ve covered these topics in other videos, including my Money Protection series, particularly Part 3, where we discuss inflation and market downturns.

But for now, I want to give you a quick perspective on these issues and some questions to consider.

First, think back:

In seminars, I often hear responses like "$40,000" or "$60,000," which were standard back then.

Now, compare that with what you paid for your last car. Some people realize they paid more for their most recent vehicle than they did for their first house.

This is a clear reminder of how inflation affects everything.

I’m not bringing this up to make anyone uncomfortable but rather to emphasize that inflation is real and that we must plan for it.

If your retirement strategy doesn’t include a plan for covering future cost increases, it’s incomplete.

Think about the price of gas when you first started driving. You might remember prices as low as 15 or 25 cents a gallon or under a dollar.

Now, we’re looking at prices with a "3" in front or more.

As the cost of living rises, we need a strategy to ensure that our income keeps pace with inflation.

Without provisions for rising expenses, we may find our purchasing power diminishing over time.

Let’s ensure your retirement plan has built-in strategies to handle these inevitable increases.

We can’t ignore inflation if we want our retirement to remain comfortable and secure.

1. Uncover Guaranteed Income Streams – Explore how many streams you currently have and consider the benefits of adding more to create a stable foundation for your financial future.

2. Prepare for Medical Costs – Medical expenses can become a substantial part of your retirement budget. It’s crucial to have a plan to cover long-term care or unexpected healthcare needs, as there’s a high likelihood that either you or your spouse will encounter these costs.

3. Plan for Inflation and Market Conditions – Inflation is beyond our control, but its impact is real. A resilient retirement plan should account for rising living costs and market fluctuations, ensuring your income keeps up with inflation.

The overarching goal here is to ensure you don’t outlive your money.

You create a robust financial plan that will last by establishing guaranteed income streams, preparing for potential medical costs, and accounting for inflation.

If you missed Part 1, click HERE, and Part 2, click HERE to catch up!

Implementing the strategies and insights from this series will bring you closer to a secure and comfortable retirement. Don’t wait until unexpected challenges arise.

Let’s work together to craft a personalized plan tailored to your unique goals and aspirations.

This concludes our Money Plan series, but stay tuned for more valuable insights in the coming weeks.

As we wrap up, remember thorough planning and expert guidance are vital to a worry-free retirement journey.

Now is the time to take control of your future.

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!