Retirement Can Mean Different Things for People

Retirement can have many different meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor.

No matter what the meaning, your clients are going to want to know:

  1. How long will I need to work?
  2. How much do I need to have saved?
  3. What rate of return do I need to earn on my saved dollars?
  4. And what steps should I take to live the lifestyle I want once I’m retired?.

The Circle of Wealth® can help you answer these questions.  Using the Retirement Ready or Not tool, you can show them the trajectory they’re currently on and how to project where they’ll be at retirement age, so you can help them with their retirement planning more effectively.  Watch our Retirement Ready or Not Walk-thru video to learn more about this powerful tool.

Here’s a few fun facts about retirees: 

  • The first Social Security beneficiary received a one-time, lump-sum payment of 17¢ in March 1937; he was a Cleveland streetcar motorman named Ernest Ackerman.
  • He had worked one day under Social Security earning $5 for the day, paying a nickel in payroll taxes. His lump-sum payout was equal to 3.5% of his wages.
  • The number of Centenarians has doubled since 1980 and 80% of them are women.
  • Germany was a key influence in determining the standard retirement age in the United States.
  • Seniors 75+ spend a lot of time watching TV (on average, over four hours a day).
  • One out of every four senior 65+ has taken a prescription drug.

There are a few other things about retirement that might surprise you:

Test your knowledge with our “Facts About Retirees Quiz”​​​​​​​

The Circle of Wealth® has several presentation tools that can help communicate financial strategies with your clients who are retired or soon to be retired.  Our most popular is the 10-minute lesson on life insurance.  The Circle of Wealth® focuses heavily on communication strategies; and we know if you can communicate with your clients so they truly understand your solutions they will, in turn, be better able to trust your advice.  Click here to get a free trial to the Circle of Wealth® members website where you see all of the resources and coaching available to members.

About MoneyTrax:
MoneyTrax, Inc. was founded in 1994 by Don Blanton and has gained national recognition for its unique financial planning approach, intuitive client presentation software, advanced training, and effective marketing tools. Since inception, MoneyTrax, Inc. has helped thousands of financial advisors nationally better serve their clients by providing the tools and training necessary to educate and increase their client’s financial Circle of Wealth®.

September 8th, 2018|News & Events|