You likely saw the United States recently hit its Federal debt ceiling of $14.2 trillion. At nearly the same time the United States also had its credit outlook downgraded by Standard & Poor’s from positive to negative, citing the fact that authorities have not made clear how they’ll tackle long-term fiscal pressures. News to virtually no one, the economic recovery in our country will not be quick one.
What does all of this mean to you as an advisor, and more importantly, what does it mean to your clients? Clients are more concerned than ever before about running out of money during retirement. News like the above and countless other daily stories have them scared. In fact, according to a recent Associated Press and LifeGoesStrong.com poll, nearly half of Baby Boomers near retirement fear they can’t afford it. (CLICK HERE for the entire article.) They might run out of money using today’s numbers! But pile on top of that inflation and leaving a meaningful benefit to loved ones and it looks dire.
To help address these issues, I’m providing two presentations specifically built to ease your client’s top three financial concerns:
1) Outliving retirement income
2) Safeguarding against inflation
3) Providing a death benefit to heirs
Presentation #1– This illustrates your prospects that need income with inflation protection first, and secondarily will leave money to beneficiaries (assuming a 6% payout percentage for life).
Presentation #2– This illustrates your prospects that have equal concerns of needing lifetime income but also want to leave money to loved ones (guaranteeing a 4.5% payout percentage for life).
I distinctly recall an advisor I consult saying, “Your potential clients are coming to you for help solving a problem. They don’t care what product gets them there.” Find that problem, agitate it, make it real to them and provide sound solutions to help clients enjoy the retirement they’ve always envisioned. They’re in more uncertain waters than ever before, and you have the solutions they need!
Make it a great week!