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The Five Biggest Threats to a Secure Retirement

Planning for Retirements Unexpected Expenses

Brought to you by

Gary L. Williams

CRD # 4699628

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Blindsided In Retirement...Planning for Lifes Unexpected Expenses

John Lennon once said Life is what happens when youre busy making other plans.

While that is certainly true, he should have also mentioned that nancial setbacks

are what happen when you ail to plan or lies unexpected events! In act, no one

plans to get injured, lose a job or get into a car accident, but these things happen

anyway. Fortunately, you can prepare and get organized beore lie happens.

O course, not all lie events catch us of-guard. We plan in advance or some o them.

For example, ew o us ever unwittingly get married. I people planned or a potential

job loss as careully as they plan or their nuptials, they would nd themselves in amuch better condition when this happens!

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Tere are two ways to prepare for lifesunexpected events:

Chart the possible events youknowyoull face in your future

Chart the possible events you

mightface in your future

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Te Readiness Blueprint

Planning ahead is also called contingency planning. Contingency planning is

important because during crises and tragedies, its hard to think clearly. Its best to

think through the best steps to take now, beore youre emotionally overwhelmed

and distracted by an unortunate lie event.

To help you get started on your Readiness Blueprint, we have included an abridged

version o our Lie Events Table. This helpul tool shows major lie events and some

o their more common implications, so you can construct contingency plans.

You probably recall reading about the Rule o 100 in our Balancing Risk In Retirement

report. By using the Rule o 100, you can adjust your investment strategy to match your

lie phase. Contingency planning is similar. In each lie phase, you need to look aheadand make appropriate contingency plans. I youre in your 20s, you dont necessarily have

to be ready or things that happen in your 60s. But you have to know theyre coming. I

a coming event is big and expensive (like retirement), you may have to start saving right

away. Other things, like estate planning, can be delayed until the appropriate lie phase.

Te Rule of 100

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

0 25 50 75 100

100%

RiskMoney

ProtectedSavings

Your Age

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New vocation or avocation options

Retirement Planning

Concern about retirement savings

Concerns about mortality

Pre-Retirement

Shiting rom accumulation to distribution

Retirement income

Fulflling activities

Critical care worries

Worry over retirement income due to

market activity

RetirementIncome reduction

Insurance issues

Asset management

Medicaid planning

Long Term Care

Wills and Trusts

Powers o Attorney

Critical or Lie-Threatening Illness

Long term care

Health care costs

Home health care

Disposal o assets

Income replacement

Insurance issues

Estate Planning

Remodel or change home

Taking Care o Aging Parents

The Five Biggest Threats to a Secure Retirement - Blind-Sided in Retirement

Income needs

Insurance

Increased expensesCredit

Clothing

Taking Care o Adult Children

Joint fnancial responsibilities

Combining assets

Benefciary designations

College costs or additional children

New home and mortgage

Review spending patterns & expenses

Discuss fnancial obligations to amily

Getting Remarried

Tax implications

Income changes

Insurance issues

Child support

Alimony

New home/car/home urnishings

Divorce or Separation

Combining assets

Insurance changes

Benefciary designations

Asset titling

Tax implications

Getting Married

The Readiness Blueprint

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You dont have to set asideevery spare nickel in case you

need it in the future.

However, you should strive tocreate a proactive, strategic

plan and manage your assets

with the what ifs in mind.

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Te Next Steps

As you can see rom the table, there are a lot o lie events to plan or!

Use this table to look ahead and create some advance contingency plans. You dont

have to set aside every spare nickel in case you need it in the uture. However, you

should strive to create a proactive, strategic plan and manage your assets with the

what is in mind.

Some o these scenarios are easy to navigate, while others are ar more complex. Iyou would like assistance with creating your contingency plans, please give us a call

or a complimentary consultation. Weve helped hundreds o clients prepare or these

lie situations, and wed be honored to share our nancial experience and expertise

with you as well.

Gary L. Williams, Financial Advisor169 Magnolia Point Drive, Columbia, SC 29212

p 888-746-0002 . 888-746-0002membersfnancial@bellsouthnet