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| Name | Why Most FERS Retirees Will Not Spend Down Their Money | Financial Advisor | Christy Capital |
| Video Uploader | Video From Christy Capital Management (formerly RBI) |
| Upload Date | This Video Uploaded At 01-07-2024 14:03:07 |
| Video Discription | You wouldn’t think it to be the case but I found an article with a lot of details that will prove that you probably aren’t spending all your money. Michael Kitces is a self-described financial planning nerd who puts out many studies in the financial planning world. He did a study and found that retirees aren’t spending the way they should. The classic view is that in retirement you’ve saved money your whole career, and now you’re going to spend it. But spending down your retirement assets in a smooth fashion is pretty hard to do. The great thing about being a federal employee is that you have a pension and Social Security and if you’re married you got a spousal Social Security. For most of our clients, those three sources cover the majority of their spending. That gives them the ability to spend money when times are good and then not spend money when times are not good. Being able to control your spending when returns aren’t as good helps your probability of success. For some people, they are their own worst enemy and they can spend like drunken sailors and run out of money. This is where prudent planning comes in. We want our clients to use their accounts and consume to have an enjoyable retirement. But we do want to be cognizant of the risk that you’ll live well into your 90s and we still need money to be there to pay for things then. A good plan factors this in. The time for a good plan is in the beginning when you’re getting ready for retirement. The information provided is not intended as tax or legal advice. Figures shown are for illustrative purposes only furthermore, the information nor the illustrations provided may not be used to avoid any tax penalties. This content represents the general views of Christy Capital Management and should not be regarded as personalized investment advice Nothing herein is intended to be a recommendation. The opinions expressed are subject to change without notice. Retirement Benefits Institute, Inc., and a portion of its contents merged with Christy Capital Management Inc. Brandon Christy, former President of Retirement Benefits Institute, is also the current President of Christy Capital Management, Inc., a registered investment adviser. |
| Category | Education |
| Tags | Retirement Benefits Institute | RBI | Brandon Christy | FERS training | federal retirement training | federal retirement | fers retirement | fers training | federal benefits training | fers planning | retirement planning |
