March, 2023 - Financial Resources Group

Expenses

Assumptions About Expenses

March 26, 2023

Have you ever reflected on the fact that frequently, the final years of your full-time career often coincide with your peak income? However, as your earnings increase, so can your expenses. And if you’re not saving at the same rate, it could be difficult to sustain your lifestyle in retirement. The reason for this is that many individuals who are not yet retired assume they will need less income in retirement, because the ‘expense’ of saving will no longer be there. They neglect to realize that not only will some expenses increase in retirement, for example, healthcare, but so will

What won’t work

Will Your Strategy Work?

March 19, 2023

Heading into retirement, It is essential to understand your options, and what will work best for you. It is similarly important, however, to understand what won’t work. Are you aware of every factor you need to take into consideration going into retirement? If not, your current strategy may not be successful. You can reach out to us to learn more about this. Read this Washington Post article to learn more about factors that could get in your way.

Extend Savings While Balancing Risk

March 12, 2023

Retirement means more than a change in your employment status. It’s the point where the use of your savings changes. During retirement, a retiree’s focus turns from accumulating savings, to how they’re going to live off those savings, potentially for decades to come. That’s why it is important to focus on where and how your savings are stored and used to generate an income you will not outlive. Call us for some ideas on planning ahead to get a head start on the situation. We’re always here to help.

Priorities

March 5, 2023

The importance of saving up enough for retirement cannot be emphasized enough. Seniors who retire mostly or solely on social security often end up strapped for cash. So, it’s essential to have additional income sources to tap into that can provide additional income. While we know retirement savings should be your main priority, sometimes economic circumstances force us to put aside long-term goals. When that happens, it’s all the more important to determine how that money you’ve saved up can help you now. It’s vital that you find a way to stay protected, regardless of what the market does. Call

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Robert S. Messina, an Investment Advisory Representative (IAR), offers advisory services through Gibbs Wealth Management, an SEC registered investment advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Financial Resources Group and Gibbs Wealth Management are independent of each other. Insurance products and services are not offered through Gibbs Wealth Management but are offered and sold independently by Financial Resources Group and Robert Messina, CA License #0E88665 and FRG Insurance Solutions, Inc. CA Ins Lic #0K21118.