On December 20, 2019, President Donald Trump signed into law a spending bill containing the SECURE Act (Setting Every Community Up for Retirement Enhancement Act). The new legislation took effect on January 1st of 2020, giving only 11 days (minus holidays and weekends) for everyone to adjust. This has left many financial institutions and financial professionals affected and scrambling to prepare.
There are many reasons clients might delay claiming Social Security benefits. At our firm, once we’ve cleared up common misconceptions with our clients, they’re often more open minded about hearing possible reasons for a delayed strategy. Many had never thought of these reasons before. Have you?
When and how your clients claim Social Security benefits is one of the bigger decisions they’ll face as they transition from their working years into post-working years. For many folks, Social Security will be one of their largest retirement resources, and it’s often the most mismanaged.
In a world of skeptics — how do you earn the trust of your prospects and clients? Well, you’ll have to read this blog post to find out.
Tags: sales techniques
The term recession has gained a lot of airtime recently. Fears of an economic slowdown seem to be everywhere. And many folks are tuned in to the fearmongering, allowing it to affect their daily lives.
Tags: retirement strategies
Inherited IRAs, or “Stretch IRAs,” as we know them today could soon be history. There are two retirement bills floating through Congress that aim to overhaul America’s retirement system.
Tags: Inherited IRAs
Without an agreed upon definition of retirement, it’s pointless to discuss strategies or financial products. Strategies and products aren’t likely to get your clients there in the most efficient manner, when we don’t know where “there” is.
Tags: retirement strategies
You may often hear clients say, “I want to keep my money liquid, I don’t want to tie it up.” The desire to keep money liquid can be strong across all socioeconomic and political spectrums. Why do many clients insist on keeping out money in a liquid state? And what does that really mean, to keep money liquid?
Whether your clients file their taxes with the assistance of an online preparation service or by working with you or a tax professional, they may have been advised to contribute to a qualified plan like an IRA in order to minimize their previous year’s taxes. Where clients have allocated their resources may increase their taxes in retirement and contribute to determining their Required Minimum Distributions (RMDs).
There are several ways financial professionals can lift their workshop attendance whether prospects register through traditional direct mailing methods or digital marketing strategies. The same processes can help increase attendance for both prospecting tactics. Financial professionals should be confident enough with their processes to potentially spend a significant amount of time and money on finding and converting prospects into clients.
FOR PRODUCER USE ONLY. NOT FOR USE WITH CLIENTS.
This content is for informational and educational purposes only and is not designed, or intended, to be applicable to any person's individual circumstances. It should not be considered as investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action.