Name: Components of a Healthy Retirement Plan
Uploaded: 2022-12-19T12:07:17-0500
Duration: 371138
Description: Nearly 41% of Americans aged 35-64 are expected to run out of money in retirement. What can you do to avoid the same fate?

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Nearly 41% of Americans aged 35-64 are expected to run out of money in retirement. What can you do to avoid the same fate?

Did you know, 40.6% of Americans between ages 35 and 64 are expected to run out of money in retirement between living longer, rising costs and poor saving habits. Planning for retirement is more important than ever. And yes, that means more than just contributing to your 401K. You've heard it said if you fail to plan then you plan to fail. Retirement planning starts with defining a budget for you and your lifestyle. Many experts say you'll spend anywhere from 55 to 80% of your annual pre retirement income in retirement. What I've seen in my almost 30 years in the financial and retirement planning community is that folks that have defined a budget have come out way far ahead because you know what you need for retirement, how do you plan for retirement if you don't know what you're gonna need. So we look at what you like to do today. We fast forward in the future factor in inflation and and cost rises and then we make sure we have a plan that can help you do what you wanna do because think about it, what fun is retirement if you're not doing what you wanna do. That's why we encourage and help you work out that budget now and that budget later. Once you've prepared that budget for your lifestyle, then you need to make sure your essentials are taken care of by a guaranteed income and here's the thing, Social Security may be guaranteed, but it also may not be enough. Warren Buffett once said the tour we've taken through the last century proves that market irrationality of an extreme kind periodically erupts and compellingly suggests that investors wanting to do well, had better learn how to deal with the next outbreak and how do we deal with that next outbreak? Let's see what coach Pete has to say. What I've seen in my almost 30 years in the financial arena. Is that folks that have a long term investment strategy usually come out far ahead. Now, an investment strategy is not just throwing money at the stock market hoping it goes up, even though that is the strategy some people imply, because let's say you take a guess, your first guest ever on the stock and it goes up. Now you think you're an expert, you can learn real quick that that wasn't the right way and you're not an expert when the next stock you pick goes down. So what I advise is first we establish a core part of your portfolio, the core money is gonna be there, it's gonna grow, it's gonna protect that growth and it's gonna give you a lifetime income. A good investment strategy can help you see the potential reward. This could be an index fund, but could also be a combination of anything from crypto to real estate and there's several ancillary advantages to that one beyond having that money protected against loss. But number two, when you have that money that's in the market and our world are red or risk bucket, you're a little bit less concerned About the fluctuations that you have up and down there because you know, you have that piece that is protected and lastly an advantage to, that's when we start to make withdrawals in retirement. Sometimes, you know, the plans will work where we can withdraw a little bit more because you know, when you do it plan and most times it's 4%, that's the golden rule. Sometimes we can go above that a little bit because that 4% is assuming 100% of that money is at risk. So if you do not have all of that money at risk, if you have some and that's completely protected. Another advantage there is, I could take out a little bit more in retirement because that's not going up up and down with the fluctuations of the market. One of the most important things to plan for in retirement is how you will maintain your health. When most people think about health care and retirement, their mind goes straight to Medicare. But here's the deal, it doesn't always cover everything you'd expect depending on when you want to retire and the level of care you will need, you may need more coverage. Well, you've probably heard me refer to health insurance, I call it wealth insurance because there's no quicker way to lose everything you have in life than not have health insurance period. Most people watching know somebody who's, who's had a long term care incident. It can bankrupt a family and the first person that goes to the long term care facility. The second person, the second spouse is broke now. So we need to make sure we have a long term care policy in place. You don't have to buy a long term care policy though to get long term care coverage. There's some specially designed life insurance policies that when you take the death benefit today to use for your long term care. So you don't have to die to benefit from a life insurance policy and you can be guaranteed to have that long term care coverage by having the proper policy. So it's overlooked and under understood believe it or not. I know it's a new word, but let's get you understanding the final part of a person's retirement isn't really about the person at all. Legacy planning covers more than you might think it's not just planning an inheritance. What about special needs account numbers, passwords? Does your partner understand where all the bills are and how they're paid when planning for the future. Make sure assets left behind. Go to the people you want them to and that they don't struggle finding the information in a difficult time without proper planning. You can find your wealth going towards taxes, fees and court costs instead of your loved ones were so worried about today and ourselves. We forget about what's going to happen tomorrow to our relatives were specifically our spouses, Children. We care for grandchildren even that. So putting together a proper legacy plan is you talking from your grave to make sure people you wanted to have money, have the money they need now. We want to structure it the right way. There are ways you can structure a tax free legacy plan and that's vitally important. So what does your retirement plan look like? A Transamerica study found that only 18% of respondents were actively preparing for retirement and nearly double. We're thinking about it. But procrastinating instead of taking action, you've worked hard for your money if you don't have a plan or you want a second opinion on your current plan, connect with our team of advisors at capital Financial. Our holistic process takes a look at your entire financial picture. We break it down, Put it on an easy to understand one page financial review and confirm that you have enough to last the rest of your life and have a ton of fun. And as a thank you for watching. We will perform that easy to understand financial review completely complimentary. Give us a call today and be sure to like and subscribe for more great content

Components of a Healthy Retirement Plan

Spotlight: Money Desk: Components of a healthy retirement plan

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WRAL-TV News Broadcasts: Watch each newscast live or watch the most recent newscast on demand.

WRAL Late News 

Get the latest WRAL WeatherCenter Forecast whenever you need it, including the DUALDoppler5000 and the 7-Day Forecast.

Hi, everyone. Meteorologist Anthony Baglione here on this Thursday where of course, we're tracking a whole lot of sunshine here across the state. We take a look outside. It is beautiful out there. Sunshine. We have warm temperatures on the way for us today. Let's talk about the kind of what we have headed this way over the next couple of days. Besides the sunshine. Today, we have a warm Thursday ahead. It's gonna be hot today near 90 this afternoon. Spotty storms though into tomorrow looks like mainly after about two o'clock into tomorrow evening. Spotty is gonna be a good word for it and I'll show you future cast here in just a second. Better rain chances though by the time we get into our Sunday afternoon, Sunday evening, that will be a time period to plan on some rainfall coming through. Otherwise we go today to 87 this afternoon. Some spots Fayetteville, for instance, could hit 90. Certainly. I think it's a good bet for us. 40% chance of some showers and storms though. Tomorrow afternoon does jump up though into Sunday mainly during the evening and then Sunday night, talking about tomorrow though. We do from the storm prediction center have out a risk of some strong to severe storms. The overall threat as it stands right now looks very low. This does not look like a huge severe weather event, but they have us outline in that potential. Nonetheless, we go through futurecast. Here's lunchtime on our Friday. We may have a couple light areas of rainfall. By that point. I think the better chances that would be again after two o'clock or so, mainly from the triangle to the south could see a few pop up storms. This is not a widespread tons of rainfall kind of event for us. And then this gets out of here, maybe just a few lingering spotty showers into tomorrow night for the most part though. If you're headed out into the next couple of days, no big problems until we get into our Sunday with more rain. We go to 87 today, 83 tomorrow, really cooling off there with the rainfall into Sunday at 6365 on Monday. Like I said, best chances of rain come in for us into Sunday afternoon, Sunday night and then should be tapering off by the time we get into early Monday morning of next week.

WRAL WeatherCenter Forecast

Nightly N.C. Education Lottery drawings during the 11 p.m. News.

Good evening. I'm Gail her. Welcome to tonight's drawing for Wednesday, April 17th, 2024. Well, let's get start tonight with our Carolina pick three. Our first winning numbers are two. Our second number is nine and the third number tonight is six and our pick three. Fireball number is an eight. Joining me for tonight's show is the auditor from mcconnell and Jones L LP. Now lets move of the Carolina pick four. Good luck. Everyone who's that first number. It's a three. Our second pick four. Number is one, third, one is one again and our fourth pick four number is a nine and our pick for fireball number is a six. Well, turning now to the Carolina cash five. If no one was the top prize tonight, tomorrow's top prize is estimated at $191,000. Good luck. Everyone is that first winning cash five number. It's 33. Our second number is an eight third number. Tonight is 10. Our fourth number is 22 and the final number in our cash five this evening, 41 the North Carolina education lottery has contributed over $10 billion to education. Get your winning numbers right here every night at your exclusive station for the North Carolina Education lottery. Thanks for playing. Have a great night.

Evening Pick 3 Pick 4 and Cash 5

Monday, Wednesday, and Saturday Powerball drawings, as shown live on WRAL.

Is powerball. Good evening, everyone. I'm Randy Trainer. Tonight. We have our life changing jackpot. It's estimated to be $80.7 million to get your tickets ready. Here. Come, tonight's winning numbers. Let's start things off this evening with the number 24. Right after that America. We have the number 54 and congratulations to Lisa Hayes from Illinois. She won $2 million playing powerball. All right, the rest of your winning number is 4447. And let's round it out tonight with the number 29 and tonight's win powerball number that's gonna be two and your power play multiplier is two. Let's take a look at tonight's winning numbers. Remember there are multiple ways to win. Good luck, everyone. We'll see you back here on Saturday night. It's time to play America's favorite.

Powerball Drawing

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Daytime Pick 3 and Pick 4 drawings are held at 3 p.m. daily. They can be seen as live or on-demand video.

Hey there. Good afternoon. I'm Noah Klein. Welcome to this afternoon's draws for Wednesday, April 17th, 2024. Let's get started here with Carolina pick three. That first pick three number is eight, second number is nine. Third number is eight pick 35. Ball number is one. Joining me for this afternoon's drawings are auditor from mcconnell and Jones L LP. Let's move to the Carolina pick four. That first pick four. Number is nine eight third number 64. Number is five and a pick for firewall number is five. The North Carolina Education lottery contributed over $10 billion to educate occasion. Thank you for your support. You get your winning numbers each day at 3 p.m. and again at 11:22 p.m. right here on your exclusive station for the North Carolina Education Lottery.

Daytime Pick 3 and Pick 4 Drawing

Tuesday and Friday Mega Millions Drawing.

>> ACROSS AMERICA WITH MEGA JACKPOTS, IT'S MEGA MILLIONS. HELLO, MAYOR COMES ON CODE IS TUESDAY. APRIL 16TH AND TONIGHT'S MEGA MILLIONS JACKPOT IS AN ESTIMATED A NEW TIES. 148 MILLION DOLLARS. >> DUE TO TECHNICAL DIFFICULTIES. TONIGHT'S DRAWING HAS BEEN TEMPORARILY HALTED. ONCE THE MALFUNCTION IS CORRECTED, THE DRAWING WILL CONTINUE UNDER THE SUPERVISION OF THE AUDITOR. WE SAY TO THE STATION FOR ALL WINNING NUMBERS. >> SPOTTY SHOWERS AND THUNDERSTORMS POPPING UP HOW

Mega Millions Drawing

Fans of the NC State Wolfpack's men's and women's basketball teams are celebrating the teams' run to the Final Four on Monday night on Hillsborough Street at the Memorial Belltower. NC State Chancellor Randy Woodson, Athletics Director Boo Corrigan and Raleigh Mayor Mary-Ann Baldwin are expected to speak Monday night at the event.

Components of a Healthy Retirement Plan

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