Why Choose Us?
The Retirement Solution
TRS CEO, Jim Black shares his journey from a farming community to a career in financial planning. He emphasizes the importance of doing right by clients, a belief that he feels has become harder to find in recent years. Jim was disillusioned early in his career by peers who prioritized profit over clients’ interests. This experience led Jim to start his own firm, committed to prioritizing clients’ well-being over the company’s short-term financial gains.
Jim’s message is a passionate call to challenge the status quo in the financial industry. He firmly believes that businesses can thrive by doing good and prioritizing the clients’ needs. His story serves as an inspirational reminder that integrity and success can go hand in hand.
What’s Your Number?™
One of the biggest concerns we see from first-time visitors to our office is “Will we run out of money?” Because retirees don’t know how much they can spend in retirement, they often end up spending less than they could have, and end up not living the life that they could have. Here at The Retirement Solution, we look at all of your assets, forecast taxes and inflation, and provide you with a plan through age 100 to tell you how much you can spend every month of every year in your retirement. With that knowledge comes the freedom to know exactly how much you can do. Take that trip. Fly first class. Gift to the kids. Start a college fund for the grandkids. So, what’s your number?
Once you retire and receive the last paycheck you’re ever going to get for the rest of your life, you have to do things differently than you have done to that point. So, where is that income going to come from in retirement, and how much risk are you going to take with that money?
The way that we do this is to allocate the funds across different time periods. We often refer to them as “Buckets”. These buckets represent years 1-5, 6-10, 11-20, and 21+.
For example, the funds you will need in the first 5 years are put into accounts and investments that are more liquid and are low risk. Funds that you will need in 5 to 20 years from now are typically placed in accounts that provide you with principle protection, liquidity, and the opportunities for growth. In contrast, the funds you will need further into your retirement, years 20+, are put into accounts and investments that are often at a higher risk, with higher potential growth. As you progress further into your retirement, those higher risk investments are transferred to low risk, with liquidity, so you are typically not drawing from high risk accounts for spending money, mitigating risk of loss due to market downturn.
What Is A Fiduciary?
A fiduciary is like a financial guardian who must always act in your best interest. A financial fiduciary, such as a Registered Investment Advisor, is legally obligated to prioritize your financial well-being when offering advice or managing your investments. On the other hand, a broker typically helps you buy and sell investments, often earning money based on their recommendations, which can sometimes be more beneficial for their own interests than the clients’. They might push certain products or investments that pay them higher commissions, even if those choices aren’t the best for you.
A Giant Leap For Retirement
Matt Perrone, Lead Planner at TRS, speaks on creating a mind-shift in retirement as savers transition to spenders. As he describes, many of our clients have been avid savers throughout their lives and professional careers.
In retirement, shifting into a new phase of life, they sometimes experience challenges with now spending the money they have so diligently saved and require a nudge from their planner to actually spend more. Sounds like a great problem to have. Listen to Matt explain how he helps his clients with this transition to a new phase of their lives.
To be the last advisor our clients ever need.
To ensure our clients enjoy their lives more and worry less about their money.
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Providing for family, spending time with grandkids, traveling. You shouldn’t be wasting your golden years worrying about electric bills or the balance of your checking account. We’ve helped hundreds of people retire confidently and we can’t wait to do the same for you.