BSMG Blog: Protecting the Future of Families and Businesses

RMD Optimization Strategy

In our latest Brainshark, Evan Graff discusses an RMD optimization strategy that many of our advisors are utilizing. 

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4 Most Common Regrets of Retirees

According to the U.S. Census Bureau, 10,000 Boomers will turn 65 every day for the next 18 years.

For some people, retirement isn’t a topic that they enjoy talking about. Many Boomers entering retirement today who avoided discussions are faced with regret. The 4 most common regrets you'll hear from retirees are:

  1. I took my Social Security too soon.
  2. I went into retirement carrying too much debt.
  3. I failed to factor in the rising costs of health care and inflation.
  4. I've just waited too long to get started

In this day in age, retirees are healthier and more active than ever, and Baby Boomers seem to be staying younger longer. They blazed the trail for a change in generational standards by postponing life’s big decisions such as marriage, children and becoming home owners. In turn, this means that most have shied away from discussing and planning for their retirement. Unlike generations passed Boomers will probably see a longer and more fruitful retirement in the years to come. Here are some top facts related to today’s pre-retirees: 

  • Fewer than 20% of pre-retirees have planned how they will manage their cash flow in retirement.
  • 64% of pre-retirees do not expect to receive enough income from Social Security and employer pensions to cover their basic living expenses in retirement.
  • 74% of pre-retirees with a written plan are confident their money will last their lifetime.
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Where Will Your Clients Be When Bull Turns Bear?

Since March 2009, the S&P 500 has gained 171%. Pretty impressive, right? But, as history has shown us when long-run bull markets end, the decline can be pretty dramatic. 

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12 Questions Your Clients Have About Their Retirement Income Strategy

Be prepared to discuss everything

From mortgage to Medicare, life span to retirement income, potential retirees will have a wealth of questions. 

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Financial Advisor Prospecting - 7 questions to help you acquire new clients.

In today’s ultra-competitive financial planning marketplace, it takes more than a passion for cold calling and a pristine reputation for financial advisors to acquire new clients. 

Now more than ever before, Americans are pressed for time and have problems that need solving. In fact, it’s a safe bet that most of your prospects are facing critical life events for the first time and need your help.The tough part is... they might not even know it yet. It’s your job to spark interest with your prospects and get them to see that the grass is in fact greener on your side.

When we work with advisors at the POS we have found that these questions help open the eyes of potential clients to their need for planning and protection.

(1) Do you currently have a financial advisor?

We have seen too many missed opportunities because this question was never asked. Did you know that just  28% of Americans have met with a financial advisor or used an online planning tool? 

It’s a simple fact;
educated consumers who do more than just save their money get ahead, while the others don’t. If your prospect answers "no" to this question, you should be well-equipped to school them on the benefits (some great talking points here in this video) of enlisting the help of a professional. If they answer in the affirmative, you may have more work to do.

(2) Do you currently have a financial plan?

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A New Tax Break For Retirees: The QLAC


Did you know that nearly half of American investors are worried about running out of money in retirement?

The concern here is absolutely warranted.  According to a recent study conducted by Jack VanDerhei of the Employee Benefits Research, 8% of people in the highest-income quartile will be out of money by their 20th year of retirement (1).  It looks even worse for the second-highest at 19% and third-highest quartiles at 38%.

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2014 Tax Extender Bill - Charitable IRA Rollover

On 12/19 President Obama signed the 2014 tax extender bill (The Tax Increase Prevention Act).  It extends about 50 business and personal tax provisions for 2014. That is only for 2 more weeks! 

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Legacy Planning Breakthrough: Turn Death Insurance into Life Insurance

Think about your last client conversation around life insurance. What were you really focusing on – their remaining life or their death? Often times we see clients disengage in the life insurance conversation because it often focuses on their mortality rather than their remaining life or legacy. Shifting the conversation from death to life could make the difference in keeping your clients focused on their protection needs and legacy planning. Our expert Russ Towers presents some great opportunities for turning “death insurance” into life insurance in his past Advanced Sales Solution piece.

 retirement planning ebook

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New Retirement Planning eBook for Advisors

In today’s world, it’s really simple: Your clients want a retirement plan and they need your help to create one.

Did you know that: 67% of clients want a retirement plan but only 25% have them, AND 87% of clients who received a retirement income plan moved their assets to that advisor?

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