We Are Dedicated To Our Clients
And we thrive on making Platinum Wealth Advisors the best we can be!
Platinum Wealth Advisors is a financial planning firm that focuses on Retirement Planning. Most financial broker/advisors are only interested in growth. And while growth is important, when preparing or living in retirement, the primary concern should be Reducing Risk!
The next Bear Market is lurking… If it occurs while working, one could recover within a few years. The reason is because they’re still contributing to their retirment plan and thus, dollar cost averaging on the way down (buying at lower prices).
But if it occurs after they retire, then they’re no longer contributing, and in fact, they’re compounding the problem because not only is the account going down, but they’re also withdrawing funds to pay for monthly living expenses. Because of this, many retirees never recover from market losses. The number one concern in retirement should be to manage Volatility and Market Risk.
Working with a Retirement Advisor
Once you retire, your goals, needs and desires change drastically. The path to retirement is full of landmines. Your nest egg that took you a lifetime to save must now pay for everything for the rest of your life. That’s 3+ decades without a paycheck!
Clearly this is not the time to leave important matters such as this to chance because there is little room for error. You simply cannot replace this money! If you are only considering investments when planning your retirement, or that’s all your advisor is talking about, then you are missing the boat! True investment and retirement planning is a whole lot more than just investing your money.
Get a FREE Retirement Income & Tax Strategy Analysis
Get Our FREE Weekly Market Update
Delivered Right To Your Mailbox
The 3 critical steps to Retirement Planning
There is no retirement without income. It must be sustainable, increasing and out pace inflation. A coordinated Income Plan is a critical step. However, it is often overlooked by both retirees and advisors. It is difficult, misunderstood and a fair amount of work. Creating your personal retirement income plan requires working with a retirement professional to help you create a plan that can survive the test of time.
Your retirement income plan should:
- Optimize Social Security so you get every nickel to every benefit!
- Manage risk through allocation planning using ABC modeling!
- Create an income stream that you and your spouse can’t outlive!
- Take advantage of often over-looked retirement tax strategies!
- Use a tax distribution strategy before taking distributions!
- Create a sequence of distribution plan for the lowest tax bracket!
A healthcare plan includes Medicare, a Supplemental plan and a Long-Term Care plan. While Medicare and Supplemental plans are reasonably priced, retirees will still have co-pays and deductibles. Long Term Care though can be expensive. The lifetime probability of becoming disabled in at least two activities of daily living or of being cognitively impaired is 68% for people age 65 and older¹.
There are many ways to fulfill Long-Term Care needs. The most comprehensive is traditional Long-Term Care, but it can be expensive and there no guaranteed benefit as one could die in their sleep at 95 years old. Other options are Life Insurance with Living Benefits which give you some benefits when care is needed and a death benefit so one dies in their sleep a beneficiary will get paid. There are also hybrid plans available.
Estate planning is essential unless you want creditors to take all of your money when you die! When a California resident dies, their property is considered the probate estate. This estate must be administered through the court system so taxes and any creditor claims can be paid. The remaining property or assets will then be distributed to the beneficiaries of the deceased. The probate process can take anywhere from six months to 2 years to complete.
Its not too difficult to avoid probate. There are options available which can ensure your estate is passed on to your heirs without going through probate. Some methods include revocable living trusts, pay-on-death accounts, joint ownership of property and gifts. These options are best discussed with a qualified Estate Plannning Attorney.
Who We Are
Our mission is to help inform retirees so they don’t make major mistakes and empower them to make better financial decisions.
As conservative Retirement Planners, we feel the most important strategy when preparing for retirement is to reduce overall risk.
Operating under the Fiduciary Standard, we promise that we will always place our clients needs and interests first.
Why Choose PWA
We focus on Retirement Planning.
Providing over 36 yrs of professional financial advice.
We’ll help you maximize Social Security benefits.
Highest potential returns with lowest possible risk.
We help with Long Term Tax Planning.
