An education program designed specifically with your members in mind.
Financial Education Program by Voyage
Empowering
Your Members
In this program, we provide you with access to a variety of valuable resources, including digital
newsleters, podcast episodes, on-demand webinars, professional articles, and in-person classes.
Whether your members are in the early, mid, or late stages of their career, we're here to help them
navigate the complex world of personal finance and achieve their financial goals. Let's get started!
Let Us Help You Increase
Financial Literacy
Voyage is commited to providing your members with the education
and resources they need to make smart financial decisions.
Here are just a few examples of what we offer:
Our newsleters are packed with valuable insights
and practical advice on retirement planning,
investment strategies, tax management, and more.
Tune in to our podcast for in-depth
discussions on a range of financial
topics, featuring expert guests and
real-life examples.
NEWSLETTERS
PODCASTS
Pension Planning 101
Navigating the Retirement Healthcare Maze
Feb 1, 2023
Jan 1, 2023
Dec 1, 2022
My Financial Journey: How I Paid My Debt Off
Retire Early & Financial Independent
COMING SOON
It isn’t a bad idea to talk to your parents or grandparents about retirement
and what worked for them. You probably can learn something from their
successes — and their mistakes.
But if you’re thinking about following the exact retirement routine they
used — with the same portfolio mix, income-distribution plan and claiming
strategy for Social Security — you may want to reconsider.
I often warn my clients that getting advice from someone who’s been
retired for decades is like asking a friend who ate at a restaurant years ago
to recommend what you should have for dinner there tonight. The chef and
menu may have changed many times, and there may be other delicious
dishes to try. You’d be better off consulting your server — someone who has
inside information about what’s best now and who will benefit along with
you if the recommendation is a good one.
In the same way, the world of financial and retirement planning is always
evolving, and the tactics that worked 10, 20 or 30 years ago may not give
you the best results today. A financial professional who has both
experience and cutting-edge knowledge can guide you through those
changes and help you reach your goals.
Here are eight things you’ll have to pay attention to as you move to and
through retirement:
1. Life expectancy.
The average life expectancy for those reaching age 65 has increased nearly
seven years (to 84.3 for men and 86.6 for women) since the Social Security
program began paying monthly benefits in 1940. And about one out of
every three 65-year-olds today will live past age 90. Your various income
streams might have to last a lot longer than your grandfather’s did. And he
likely had a pension to count on; many of today’s retirees do not.
2. Health care.
Just because we’re living longer doesn’t mean we’re living healthier.
According to the Pew Research Center, 75% of U.S. adults 65 and older
report living with one or more chronic medical conditions. The latest
retiree health care cost survey from Fidelity Benefits Consulting estimated
that a 65-year-old couple retiring in 2018 would need an average of
$280,000 to cover medical expenses through retirement. That’s a 2%
increase from the prior year’s estimate — and it doesn’t include long-term
care costs. Your plan should include ways to stay active in retirement —
and a backup for any costs that Medicare doesn’t cover.
3. Long-term care.
Health care bills are one of the top reasons people give when filing for
bankruptcy, and long-term care needs can add to the overwhelming cost.
Genworth’s 2018 Cost of Care Survey puts the current median annual cost
of care anywhere from $18,720 for adult day health care to $100,375 for a
private room in a nursing home, depending on the care required and where
you live — and those costs are expected to keep rising. Your adviser can
suggest insurance products and other ways to help plan for the worst.
4. Housing.
In 2008 and 2009, many pre-retirees learned the hard way what can
happen if you put all your money into your home. Those who bought in
early 2006 watched their equity disappear within a year or two as the
housing market crashed. Some homeowners had time to recover, but in
retirement you need a mix of assets that allow you to remain flexible,
in case you decide to downsize, renovate or relocate.
5. Market conditions.
Thanks to technology and our global economy, the market changes
constantly, and we’ve experienced an incredible amount of volatility in
recent history. If the market falls just before or early in your
retirement, your entire plan could be at risk. Remember, if you lose
50% of your portfolio, you’ll need to earn 100% to get back to even. In
retirement, you’re also withdrawing money and you lose recovery
time. It’s important to regularly evaluate market conditions and
income-distribution strategies with your financial professional.
6. Social Security.
While pundits and politicians debate the future of Social Security, it’s
up to you to determine when you should claim your benefits. While
most retirees still file before their full retirement age, many advise
delaying payments as long as possible to maximize your benefits. Your
adviser can help you decide what’s right for your plan. (The nice folks
at your local Social Security office cannot.) Factors to consider include
your family’s medical history and your own, whether you have a
pension or other guaranteed sources of income, and if you think you’ll
want or need the money while you’re younger and more active.
7. Taxes.
If, like many modern-day pre-retirees, you’ve been socking all your
money away in a tax-deferred investment account, you could be
looking at a problem in retirement. Although most people expect to be
in a lower tax bracket when they stop working, that isn’t always the
case. Even if you’re usually in a lower bracket, if you need extra funds
for a vacation or some other major purchase, the money you withdraw
could temporarily bump you to a higher rate. You’ll also have required
minimum distributions to deal with when you turn 70½. If tax rates
go up in the future, the problem will only get worse. You may want to
consider diversifying your savings into accounts (such as a Roth IRA)
that are taxed in different ways.
8. Inflation.
Inflation means the market is growing and the economy is doing well.
It also puts your purchasing power at risk. It’s crucial to plan for how
inflation could affect your 20- to 30-year retirement. The options for
growing your money safely keep changing, so you’ll need up-to-date
advice. What worked for a different generation may not be the most
lucrative or efficient way to save or invest today. Like the menu at the
restaurant that changes over time, the strategies and products
available to you may not even have been conceived of back when your
dad or granddad was retiring. Your qualified financial professional
can go over your options, see which ones fit your needs and help
design a custom — and current — retirement plan.
Securities offered through GWN SECURITIES Inc. Member FINRA/SIPC. 11440 N Jog Road, Palm
Beach Gardens, FL 33418. 561-472-2700. Voyage Retirement Solutions LLC and GWN Securities
Inc. are non-affiliated companies. Investing involves risk, including the potential loss of principal.
Any references to guaranteed income generally refer to fixed insurance products, never securities
or investment products. Insurance and annuity product guarantees are backed by the financial
strength and claims-paying ability of the issuing insurance company. Voyage Retirement Solutions
LLC is not affiliated with the U.S. government or any governmental agency. Neither the firm nor its
agents or representatives may give tax or legal advice. Individuals should consult with a qualified
professional for guidance before making any purchasing decisions.
Originally Published On:
Daniel Rey
CEO/Founder
Voyage Retirement Solutions
This Isn’t (Or At Least, Shouldn’t Be)
Your Father’s Retirement Plan
Advice that worked in past decades may no longer
serve today's retirees. Here's a look at what has
changed over the years that you'll need to account
for today.
No mater what your financial goals may be, we're here to help you achieve them. Contact us today to
learn more about our education program and how we can help you build a stronger financial future.
Stay informed with our insightful articles writen
by financial professionals covering the latest
financial news, trends, and strategies. Our
articles appear in top publications and are
tailored to professionals in your industry.
We offer in-person classes at your department building, station,
or place of work led by experienced financial professionals who
can answer your questions and provide personalized advice.
Can't make it to one of our in-person
classes? No problem. Our on-demand
webinars allow your members to learn at
their own pace, on their own schedule.
Classes We’ve Offered In the Past:
• Taxes in Retirement
• So You’re In DROP, But Now What?
• Estate Planning: Is It For Me?
• Investment Planning The Wise Way
• The 411 On Pension Plans
IN-PERSON CLASSES
PERIODICALS
ON-DEMAND
WEBINARS
Help You Build a
Brighter Future
We’re Here to Support You Every Step of the Way
At Voyage Retirement Solutions, we're more than just
financial professionals. We're passionate about making a
difference by increasing financial literacy. We believe that
every member deserves to feel confident in their financial
future, and we're here to help make that a reality.
With decades of combined experience in the financial
industry, our team is dedicated to providing personalized
guidance and support to help your members achieve
their financial goals. We believe that having a writen
retirement plan is crucial to building a brighter future,
which is why we strive to put one in the hands of every
member we work with.
So why wait? Contact us today to learn more about our
education program and how we can help your members
feel confident and empowered about their financial
future. We look forward to making a difference together!
LET’S GET STARTED TODAY
Securities and Advisory services offered through GWN SECURITIES, INC. a Registered Investment
Advisor. Member FINRA/SIPC. 11440 N Jog Road, Palm Beach Gardens, FL 33418. (561)472-2700.
Voyage Retirement Solutions, LLC and GWN Securities, Inc.are non-affiliated companies. Daniel Rey
& Voyage Retirement Solutions do not represent, nor are they affiliated with the Florida Retirement
System (FRS). Consult your financial professional before making any investment decision.
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