A Paradigm Shift of Income Planning |
June 21, 2012 |
Cal Burgess, Member Posts, Retirement Planning, Your Retirement
Written By: Cal Burgess, Retirement Servicing Group PLLC The retirement crisis is likely to continue given the direction our pension plans are heading. It is no secret that the traditional pension plan is pretty much unheard of in the private sector. Today, your only real hopes of receiving a pension are through a government job. Even at that, state and federal governmental authorities are struggling to make the payments on a monthly basis. This is all the more reason why employees need to take their...
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Why Maslow’s Theory Contradicts Traditional Retirement Planning |
June 15, 2012 |
Cal Burgess, Income For Life, Member Posts
Written By: Cal Burgess, Retirement Servicing Group PLLC For many, the approach to retirement planning is in direct conflict to Maslow’s hierarchy of needs. The approach to retirement is working counter intuitive to the traditional planning approach. For the first time since the 1920’s, the American employee is approaching retirement without the basic core needs being addressed. We have never approached an epidemic of this magnitude before. Those who have the majority of their retirement income, or deferred compensation plans, at risk without addressing proper...
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Why Spain is Unlikely to Continue on Its Financial Path |
June 13, 2012 |
Cal Burgess, Member Posts, The Global Economy
Written By: Cal Burgess, Retirement Servicing Group PLLC Recently the growing Euro concerns are being shifted towards Spain, and rightfully so. When you take into consideration that Spain’s economy is twice the size of Greece, Portugal, and Ireland combined, it’s becomes clear why it is a serious concern for the EU. Spain’s financial crisis is arguably more of a question of morality than a true financial crisis, at least not yet. Spain’s bank concerns center around BFA-Bankia, which was formed in 2010 as a merger...
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Why Financial Planning Will Fail Many Retirement Dreams |
June 11, 2012 |
Cal Burgess, Income For Life, Member Posts, Retirement Planning
Written By: Cal Burgess, Retirement Servicing Group PLLC Over the last few years I have met many Americans, either already in or nearing retirement, who have told me that they have been urged to “stay the course” with their portfolio. These investors are putting their retirement dreams in a philosophy that utilizes projections, and not guarantees. The problem is many investors are hoping to retire in the next 10 -20 years and are nowhere near their long term goals. Considering that the S & P...
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Death of the Traditional Pension Plan |
June 7, 2012 |
Cal Burgess, Income For Life, Member Posts, Retirement Planning
Written By: Cal Burgess, Retirement Servicing Group PLLC The traditional pension plan is a concept from the past that is likely to never come back to the American culture. The concept of the pension plan is ingrained into the fabric of our country’s roots, and Generation X is going to be the first generation in US history that will not experience the benefits of this retirement plan. Through adamant deregulation of the investment banking industry from the early 1980s throughout the 1990s, deteriorating market conditions...
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The Accumulation Phase is the Missing Link |
June 4, 2012 |
Cal Burgess, Income For Life, Member Posts, Retirement Planning, Your Retirement
Written By: Cal Burgess, Retirement Servicing Group With respect to income and retirement planning, there are 3 phases of life. The introduction phase, the accumulation phase, and the preservation phase. The second phase, the accumulation phase, is the phase of life where you accumulate funds to retire (working years of life), pay off as much debt as possible, and try to achieve the best quality of life you can. This is the phase that is destroying the American dream of retirement. Most of us grew...
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The Benefits of Lifetime Income |
June 1, 2012 |
Annuity Basics, Cal Burgess, Index Annuities, Member Posts, Your Retirement
Written By: Cal Burgess, Retirement Servicing Group Today the traditional pension plan, or defined benefit plan, is a dream from the past. Outside of state or federal government jobs the pension is pretty much nonexistent. According to Forbes a 2010 survey by consulting firm, Towers Watson, found that between 1998 and 2010, the proportion of Fortune 100 companies offering pension plans fell from 67 percent to 17 percent. Instead, employees today count on their deferred compensation plan for retirement, which is causing their retirement age...
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How Policy Owners Were Able to Survive The Fall of AIG |
May 30, 2012 |
Cal Burgess, Index Annuities, Life Insurance, Member Posts
Written By: Cal Burgess, Retirement Servicing Group The financial correction of 2008 is undoubtedly one of the most memorable events in US history. Several companies fell at that time including financial giants AIG and Lehman Bros. We all know the story of how the credit lines of these companies were extended by the Federal stimulus, which came to over $800 billion up front. Most people think companies like AIG fell because of financial insolvency. This was not the case at all. AIG fell because of...
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A Reflection of our Federal Stimulus |
May 29, 2012 |
Cal Burgess, Member Posts, The United States Economy
Written By: Cal Burgess, Retirement Servicing Group PLLC Prior to 2008 the Federal Government remained diligent upon separation of private business and fiscal policy. All of that changed in September of 2008. The initial federal stimulus of Wall Street was sparked by plummeting Collateralized Debt Obligations (CDOs). Yes, we have all heard the news. However, there is still an inherent misunderstanding of the trillions of dollars of stimulus that followed. After the initial bailout of Wall Street that exceeded $800 billion; the Federal Reserve, led...
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