Charles Automotive & Tire has launched its new state-certified vehicle inspection service—and the response has been incredible. With business busier than ever, the Rockville community is turning to Charles for trusted, expert care.
Len Martinez discusses the fear of going broke
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-len-r-martinez-founder-of-lrm-retirement-discussing-the-fear-of-going-broke/
Len Martinez, founder of LRM Retirement, shares insights into the top financial worries people face when planning for retirement, including rising healthcare costs, the death of a spouse, and the anxiety of outliving their savings. He emphasizes the importance of understanding these fears and building retirement strategies that provide both financial security and peace of mind.
As individuals approach retirement, one of the most pressing concerns they face is the fear of running out of money. This anxiety, often referred to as the “fear of going broke,” is not unfounded. With increasing life expectancies and rising healthcare costs, the prospect of financial insecurity in retirement looms larger than ever. To alleviate this fear, it is essential to adopt a proactive and strategic approach to retirement planning—one that prioritizes not only the accumulation of wealth but also the sustainable management of resources throughout one’s retirement years.
In recent decades, the landscape of retirement has shifted dramatically. In the 1980s, the average life expectancy was around 65 to 66 years; today, it exceeds 88 years. This increase in longevity means that retirees must plan for potentially 20 to 30 years of living expenses beyond their working years. Traditional retirement models, which relied heavily on pensions and Social Security, are no longer sufficient for many individuals. Instead, retirees must take a more active role in managing their financial futures, ensuring that their savings will last throughout their extended lifetimes.
A well-structured retirement plan should encompass a variety of factors, including income sources, expenses, healthcare needs, and personal values. The fear of going broke often stems from uncertainty about how to navigate these complexities. Therefore, it is crucial to develop a comprehensive financial strategy that allows retirees to enjoy their lifestyle with confidence and without fear.
One effective approach is to conduct educational workshops that educate individuals on the principles of retirement planning. These sessions can cover topics such as social security timing, the truth about annuities, and investment strategies that align with one’s financial goals. By equipping individuals with knowledge, they can make informed decisions and approach the future with confidence.
A robust retirement plan should include provisions for regular reviews and adjustments. Life circumstances and market conditions can change, and a flexible plan allows individuals to adapt to these changes without compromising their financial security. The objective is to establish a retirement strategy that adapts to life’s changes while ensuring peace of mind.
One of the most critical shifts in mindset for retirees is the understanding that financial success in retirement is not merely about accumulating wealth. As one financial advisor aptly put it, “There are no trophies given for being the richest person in the graveyard.” The true measure of a successful retirement lies in the ability to maintain the desired lifestyle throughout one’s life.
Retirees should focus on spending their savings in a way that enhances their quality of life rather than hoarding wealth for the sake of leaving a legacy. This involves making intentional decisions about how to allocate resources to fulfill personal values and desires, whether that means traveling, spending time with family, or pursuing hobbies.
The fear of running out of money in retirement is a legitimate concern that requires careful planning and proactive management. By adopting a comprehensive approach to retirement planning, one that addresses risks, emphasizes lifestyle, and encourages regular reviews, individuals can alleviate their fears and build a secure financial future. Ultimately, the goal should be to create a retirement plan that not only provides financial security but also allows for a fulfilling and enjoyable life during the golden years.
Len shared: “We spend a lot of time being taught by industry leaders what’s transpiring in the industry and what people are concerned about.”
Video Link: https://www.youtube.com/embed/OqXTGAv5p0Y
About Len R Martinez
Len R Martinez is an Investment Advisor and a Fiduciary in Texas. Len is a fee-based planner and works primarily with clients planning for or in retirement. His goal for his clients is to replace “hopefully, we will” retirement with “we know we will” retirement. With 25 years of client relationships and success, Len focuses on educating his clients on how to plan for and pay for retirement.
Learn more: https://lrmretirement.com/
Recent News & Interviews:
Len Martinez Discussing The Truth about Annuities https://authoritypresswire.com/len-r-martinez-founder-of-lrm-retirement-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-truth-about-annuities/
Investment advisory and financial planning services are offered through Simplicity Wealth, LLC, an SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm, nor does it indicate that the adviser has attained a particular level of skill or ability. Insurance, Consulting and Education services offered through LRM Retirement. LRM Retirement is a separate and unaffiliated entity from Simplicity Wealth.
Malibu, CA – Under the leadership of renowned industry innovator Linda Kaye, AgentIQ today announced the pre-launch of its emotionally intelligent AI suite for real estate agents — a platform designed to blend cutting-edge technology with the irreplaceable human connection at the heart of every property transaction.
This debut marks a pivotal moment in real estate technology. AgentIQ’s Founders Club is opening its doors to just 100 distinguished real estate professionals, offering them first access to a tool poised to set a new standard for how agents build relationships, close deals, and deliver client care.
“AgentIQ is for those who want more than technology—they want to lead and create lasting client stories,” said Kaye. “We’re merging the precision of AI with the empathy of a trusted advisor. This isn’t about replacing the human touch — it’s about amplifying it.”
A Defining Shift in Real Estate AI
While the real estate tech market is crowded with data-driven and automation-focused platforms, AgentIQ stands apart by integrating emotional intelligence into every function. Its design acknowledges that property transactions are not just financial exchanges but deeply personal milestones.
Key elements of AgentIQ’s approach include:
Emotionally Intelligent Interactions – AI trained to respond to client needs with nuance, context, and care.
Strategic Exclusivity – Limiting early access to 100 agents to foster collaboration and shared leadership within a high-caliber network.
Enhanced Early Access – The first 25 Founders Club members will receive a dedicated AgentIQ Virtual Assistant, designed to accelerate deal flow and elevate client communication.
Why This Matters Now
The global agent AI market is forecast to soar from $28 billion in 2024 to $127 billion by 2029 — a transformation that will reshape how real estate is practiced. Linda Kaye believes the agents who adopt emotionally intelligent AI early will not just survive this evolution, but define it.
“This is a once-in-a-lifetime opportunity to join a movement where influence matters as much as innovation,” Kaye explained. “We’re building a platform for leaders who see beyond the transaction and into the lifetime value of trust.”
An Invitation to Visionaries
Membership in the Founders Club is not simply an early access pass — it is an invitation to help shape the next chapter of real estate technology. By capping the group at 100, AgentIQ ensures each member’s voice influences the evolution of the platform.
“Applications are now open,” Kaye announced. “Once the hundred are chosen, the doors will close permanently. Those first 25 will have an advantage that can’t be replicated.”
Video Link: https://www.youtube.com/embed/mamxarZrv1o
About AgentIQ
AgentIQ is a technology leader redefining real estate’s future by combining advanced AI with human empathy. Built specifically for elite real estate agents, the platform delivers highly personalized, crisis-sensitive client care and integrates seamlessly into existing workflows. With Linda Kaye at the helm, AgentIQ is committed to empowering agents who refuse to settle for business as usual — agents who lead with both innovation and authenticity.
Mike Milligan discusses the five pillars of a unique plan
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-mike-milligan-founder-of-1-oak-financial-discussing-the-five-pillars-of-your-unique-plan/
Mike Milligan, the founder of 1 Oak Financial. He delved into the concept of the “five pillars of your unique plan,” which form the foundation of his book, The One-of-a-Kind Financial Plan.
Mike shared his belief that everyone is unique and that financial planning should reflect that individuality rather than adhere to a one-size-fits-all approach. He emphasized the importance of being present in our lives and embracing our uniqueness, which is crucial when planning for retirement.
He explored the five pillars in detail:
Tax Planning: Mike highlighted that taxes are often the largest expense individuals face and that proactive tax planning can significantly impact one’s financial life.
Retirement Income Planning: This pillar focuses on ensuring a steady income stream during retirement, allowing individuals to enjoy their lives without financial stress.
Investment Planning: Mike pointed out that investment strategies should align with one’s retirement vision and not just be about chasing returns.
Long-Term Care Planning: He stressed the importance of preparing for future health needs and understanding the costs associated with long-term care.
Legacy Planning: This often-overlooked pillar is essential for ensuring that one’s wishes are honored and that loved ones are taken care of after one’s passing.
Throughout the podcast conversation, Mike emphasized the need for a dynamic and flexible financial plan that can adapt to life’s changes. He also discussed the importance of strategic withdrawal sequencing and tax strategies to maximize retirement income while minimizing taxes.
He wrapped up with a client success story that illustrated the transformative power of the one-of-a-kind financial plan, showcasing how it can provide clarity, peace of mind, and a sense of security for individuals approaching retirement.
Mike shared: “I believe everyone is One of a Kind; and You deserve a One of a Kind Financial Plan that is about You.”
Video Link: https://www.youtube.com/embed/zjWQ1ajli7s
About Mike Milligan
Mike Milligan, a Certified Financial Planning Professional, author, podcast and radio show host, and university lecturer, brings 26 years of experience to the financial planning industry. After beginning his career in large banks and insurance companies, he founded his first firm 15 years ago with the belief that “everyone is One of a Kind; and they deserve a One of a Kind Financial Plan.”
Challenging the “One Size Fits All” approach to financial advice, which he refers to as “Retirement Déjà Vu,” Mike developed The One of a Kind Financial Plan. This comprehensive plan addresses taxes, retirement income, investments, long-term care, and legacy, enabling clients to live a “One of a Kind Life.” Recognizing the need for a clear retirement vision, he then created Retirement CHI to supplement the plan. This innovative approach focuses on community, health, and impact, further reducing stress for his clients. Mike leads a team of over 20 professionals across the United States, including Hawaii.
Learn more: http://www.1OakFinancial.com
Recent News & Interviews:
Mike Milligan discusses The Sea of Sameness https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-sea-of-sameness/
Mike Milligan discusses “Deja vu Traps” in the Context of Retirement Planning https://authoritypresswire.com/mike-milligan-founder-of-one-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-deja-vu-traps-in-the-context-of-retirement-planning/
Mike Milligan discusses Insights of the Paralysis Penalty https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-paralysis-penalty/
Mike Milligan discusses the concept of your retirement CHI https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-your-retirement-chi/
The information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. Neither Mike Milligan nor his guests are liable for the use of information discussed. Always consult with a qualified investment, tax, or legal professional before taking any action or schedule a meeting with Mike Milligan. Annuity guarantees are based solely on the financial strength and claims-paying ability of the issuing company. Individuals should thoroughly review the contract for specific product features and costs. Income payments and withdrawals from deferred annuities are generally taxable as ordinary income in the year they are taken.
NFL M.O.M.S. hosts The Next Play Networking Mixer Sept. 6 in Hampton, GA—bringing athletes, moms, and community leaders together around one core theme: the power of truly listening. The event, held during National Suicide Awareness Month, will explore how listening with empathy can break silence, prevent tragedy, and prepare families for life beyond sports.
Mike Milligan discusses the concept of your retirement CHI
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-mike-milligan-founder-of-1-oak-financial-discussing-your-retirement-chi/
Mike Milligan, the founder of 1 Oak Financial. He delved into the concept of “Retirement Chi,” a term that Mike has trademarked, which emphasizes the importance of building a personal vision for retirement that goes beyond mere financial planning.
Mike explained that while many retirees focus on investments and financial security, they often overlook the emotional and social adjustments that come with retirement. He highlighted the psychological impacts of this major life transition, including feelings of loss, anxiety, and identity shifts. Retirement Chi aims to address these concerns by focusing on three key elements: Community, Health, and Impact.
Mike discussed how retirees can define their community—whether it be through family, friends, or social groups—and the importance of maintaining health and vitality during retirement. Mike emphasized that health is not just about avoiding illness but about creating energy and vitality for daily activities. The impact aspect encourages retirees to find ways to contribute and share their wisdom, whether through mentoring, volunteering, or engaging in meaningful conversations.
Additionally, he explored the concept of “geographic arbitrage,” which involves relocating to areas with a lower cost of living while maintaining quality of life. Mike shared examples of clients who have successfully made this transition, allowing them to stretch their retirement dollars further and enhance their overall lifestyle.
Mike shared: “ I believe everyone is One of a Kind; and You deserve a One of a Kind Financial Plan that is about You.”
Finally, Milligan touched on the significance of legacy planning, emphasizing that a meaningful legacy is built on values and experiences rather than just financial wealth. Mike’s approach integrates faith and personal values into legacy planning, ensuring that future generations inherit wisdom alongside wealth.
Video Link: https://www.youtube.com/embed/_QhwZ4WveWc
About Mike Milligan
Mike Milligan, a Certified Financial Planning Professional, author, podcast and radio show host, and university lecturer, brings 26 years of experience to the financial planning industry. After beginning his career in large banks and insurance companies, he founded his first firm 15 years ago with the belief that “everyone is One of a Kind; and they deserve a One of a Kind Financial Plan.”
Challenging the “One Size Fits All” approach to financial advice, which he refers to as “Retirement Déjà Vu,” Mike developed The One of a Kind Financial Plan. This comprehensive plan addresses taxes, retirement income, investments, long-term care, and legacy, enabling clients to live a “One of a Kind Life.” Recognizing the need for a clear retirement vision, he then created Retirement CHI to supplement the plan. This innovative approach focuses on community, health, and impact, further reducing stress for his clients. Mike leads a team of over 20 professionals across the United States, including Hawaii.
Learn more: http://www.1OakFinancial.com
Recent News & Interviews:
Mike Milligan discusses The Sea of Sameness https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-sea-of-sameness/
Mike Milligan discusses “Deja vu Traps” in the Context of Retirement Planning https://authoritypresswire.com/mike-milligan-founder-of-one-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-deja-vu-traps-in-the-context-of-retirement-planning/
Mike Milligan discusses Insights of the Paralysis Penalty https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-paralysis-penalty/
The information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. Neither Mike Milligan nor his guests are liable for the use of information discussed. Always consult with a qualified investment, tax, or legal professional before taking any action or schedule a meeting with Mike Milligan. Annuity guarantees are based solely on the financial strength and claims-paying ability of the issuing company. Individuals should thoroughly review the contract for specific product features and costs. Income payments and withdrawals from deferred annuities are generally taxable as ordinary income in the year they are taken.
Mike Milligan discusses insights of the paralysis penalty
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-mike-milligan-founder-of-1-oak-financial-discussing-the-paralysis-penalty/
In this episode of Influential Entrepreneurs, host Mike Saunders welcomes back Mike Milligan, founder of 1 Oak Financial, to discuss the concept of the “paralysis penalty.” Milligan defines this penalty as the consequences of inaction and the costs associated with not seeking tailored financial advice. He highlights how many individuals feel overwhelmed by financial jargon from Wall Street, which can lead to confusion and a reluctance to make informed decisions about their wealth. The discussion delves into the significant costs—both financial and emotional—of doing nothing or simply following the crowd during market fluctuations.
In today’s fast-paced financial landscape, the importance of timely decision-making cannot be overstated. The concept of the “paralysis penalty,” as discussed by financial expert Mike Milligan in a recent podcast, highlights the significant costs associated with inaction in financial planning. He explores the implications of delaying financial decisions and emphasizes the necessity of taking proactive steps to secure one’s financial future.
The paralysis penalty refers to the detrimental effects of doing nothing when it comes to managing personal finances. Many individuals find themselves overwhelmed by the complexities of financial markets, often leading to a state of inaction. As Milligan points out, this inaction can stem from a lack of understanding or a fear of making the wrong decision. However, the consequences of this paralysis can be severe, both financially and emotionally.
According to a 2024 Vanguard study mentioned in the podcast, retirees who delayed making strategic changes during market downturns experienced an average loss of 15% in potential portfolio growth over the subsequent decade. This statistic underscores the substantial financial cost associated with inaction. By failing to adapt to changing market conditions or to seek professional advice, individuals risk losing significant wealth that could have been preserved or grown through timely intervention.
Moreover, the emotional toll of inaction can be just as damaging as the financial implications. The stress of uncertainty can lead to poor decision-making, which may exacerbate an already precarious financial situation. Individuals who remain passive in their financial planning may find themselves facing increased anxiety about their future, particularly as they approach retirement age. This emotional strain can further hinder their ability to make sound financial decisions, creating a vicious cycle of inaction and stress.
The concept of opportunity cost is also critical in this context. When individuals choose to do nothing, they miss out on potential growth opportunities that could have been realized through informed decision-making. Each moment spent in indecision is a moment lost in which wealth could be built, preserved, or protected. For instance, the decision to delay investing in a diversified portfolio or to postpone seeking professional financial advice can result in missed opportunities for compound growth, which is essential for long-term financial health.
The podcast also touches on the issue of analysis paralysis, where individuals become so bogged down in overanalyzing their options that they fail to make a decision altogether. This phenomenon can lead to further delays and financial losses. Milligan suggests that individuals should seek out credentialed professionals who can simplify complex financial concepts and help them navigate their unique situations. By working with a knowledgeable advisor, individuals can alleviate the burden of uncertainty and take decisive action toward their financial goals.
Real-life examples further illustrate the importance of acting promptly to avoid financial loss. Milligan recounts instances where clients delayed making crucial financial decisions, only to realize later the significant costs associated with their inaction. By addressing these issues head-on and implementing strategic changes, clients were able to recover lost ground and set themselves on a path toward financial stability and growth.
Mike shared: “I believe everyone is One of a Kind; and You deserve a One of a Kind Financial Plan that is about You.”
In conclusion, the message is clear: acting now is essential to avoid financial loss. The paralysis penalty serves as a stark reminder of the costs associated with inaction and the importance of making timely, informed decisions. By recognizing the potential pitfalls of delay and seeking professional guidance, individuals can take control of their financial futures, break free from the cycle of inaction, and work toward building and preserving their wealth. The time to act is now—delaying may only deepen the financial challenges faced in the future.
Video Link: https://www.youtube.com/embed/HDJthF2EDm8
About Mike Milligan
Mike Milligan, a Certified Financial Planning Professional, author, podcast and radio show host, and university lecturer, brings 26 years of experience to the financial planning industry. After beginning his career in large banks and insurance companies, he founded his first firm 15 years ago with the belief that “everyone is One of a Kind; and they deserve a One of a Kind Financial Plan.”
Challenging the “One Size Fits All” approach to financial advice, which he refers to as “Retirement Déjà Vu,” Mike developed The One of a Kind Financial Plan. This comprehensive plan addresses taxes, retirement income, investments, long-term care, and legacy, enabling clients to live a “One of a Kind Life.” Recognizing the need for a clear retirement vision, he then created Retirement CHI to supplement the plan. This innovative approach focuses on community, health, and impact, further reducing stress for his clients. Mike leads a team of over 20 professionals across the United States, including Hawaii.
Learn more: http://www.1OakFinancial.com
Recent News & Interviews:
Mike Milligan discusses The Sea of Sameness https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-sea-of-sameness/
Mike Milligan discusses “Deja vu Traps” in the Context of Retirement Planning https://authoritypresswire.com/mike-milligan-founder-of-one-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-deja-vu-traps-in-the-context-of-retirement-planning/
The information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. Neither Mike Milligan nor his guests are liable for the use of information discussed. Always consult with a qualified investment, tax, or legal professional before taking any action or schedule a meeting with Mike Milligan. Annuity guarantees are based solely on the financial strength and claims-paying ability of the issuing company. Individuals should thoroughly review the contract for specific product features and costs. Income payments and withdrawals from deferred annuities are generally taxable as ordinary income in the year they are taken.
Author, real estate investor, and financial strategist Larry Tuch announces the release of his new book The Abundant Wallet Smart Methods for Mastering Money now available on Amazon at a special introductory price.
Unresolved trauma can spell disaster for your love life, according to a therapist.
Anu Verma, a certified complex trauma recovery coach and therapist, says past trauma from our childhood or previous relationships has the potential to destroy future connections if it isn’t dealt with. She will be sharing her wisdom on how trauma can sabotage romance at an event aimed at empowering women in October.
The Coventry-based mother-of-two is one of the speakers appearing at Rise, a two-day event in Norwich which includes a number of inspirational talks along with a fashion show. Now in its sixth year, Rise aims to bring women from across the UK together for sisterhood, healing and transformation.
Anu, who hosts a podcast about healing from trauma called Victim 2 Victor, said: “Unresolvedtrauma lives in the body, not just the mind. Even if we’ve moved on cognitively, the nervous system may still be wired for survival, scanning for danger instead of safety.
“Unless we work with the nervous system directly, we keep repeating patterns. Not because we want to suffer, but because our body is trying to protect us based on old memories.”
As a survivor of childhood abuse and domestic violence, Anu has spent the past decadehelping others to heal from trauma and reclaim their sense of self-worth. She has written about her own experiences in her memoir, Victim 2 Victor, which is currently adapting into a feature film called Silent Screams – a girls journey to reclaim her voice.
During her talk at Rise, Anu will be explaining the hidden but powerful role our nervous system plays in who we are attracted to and why. She will also explore how healing at a somatic level can help people break free from destructive patterns and form safer, healthier connections.
Rise is being held on October 25 and 26 at The Maids Head Hotel, in Tombland, Norwich.
Tickets for the event are available now, with all proceeds of its charity raffles going to the Pandora Project, a domestic abuse charity supporting women and children in Norfolk.
For more information about Rise ,visit: https://www.eventbrite.co.uk/e/rise-tickets-1345234605919 or learn more about Anu at victim2victor.net
Mike Milligan discusses “deja vu traps” in the context of retirement planning
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-mike-milligan-founder-of-1-oak-financial-discussing-exposing-the-deja-vu-traps/
Mike Milligan, founder of 1 Oak Financial, explains that deja vu experiences often evoke eerie feelings and can occur during less-than-happy moments in life. He emphasizes that in the realm of financial planning, these traps manifest as feelings of conformity and a lack of uniqueness among clients. At 1 Oak Financial, the goal is to create personalized financial plans that celebrate each client’s individuality, rather than providing a generic experience.
The term “deja vu traps” in retirement planning encapsulates the repetitive and often detrimental experiences individuals encounter when they adhere to conventional financial advice without considering their unique financial situations. This concept is particularly relevant in the context of retirement, where the stakes are high, and the consequences of poor planning can be significant.
Deja vu is a phenomenon where individuals feel as though they have experienced a situation before. In retirement planning, this translates to clients feeling as though they are receiving the same advice and facing the same challenges as others, leading to frustration and helplessness. Mike emphasizes that many people find themselves trapped in a cycle of negative experiences, often due to following generic advice that does not cater to their specific needs.
Many individuals rely on traditional financial strategies, such as investing in annuities, bonds, or following a buy-and-hold strategy. While these methods may seem safe on paper, they can lead to significant pitfalls if not properly structured. For instance:
Annuities: While they can be beneficial, the average variable annuity fee can range from 2.3% to 3% annually. Over time, this can result in substantial costs that erode retirement savings. Additionally, complex surrender charges and inflation risks can turn what should be a secure investment into a financial nightmare.
Bonds: Often marketed as safe investments, bonds can be volatile, especially in a changing interest rate environment. If inflation outpaces bond yields, retirees may find their purchasing power diminished, leading to financial strain.
Buy-and-Hold Strategy: This strategy, popularized by Warren Buffett, can be effective until market downturns occur. During such times, retirees withdrawing funds may lock in losses, compounding the damage and jeopardizing their long-term financial health.
Milligan stresses the need for personalized financial planning that acknowledges the uniqueness of each client. The goal is to avoid the deja vu experience where individuals feel trapped in a cycle of repeating the same mistakes. By recognizing the distinct circumstances of each client, financial advisors can create tailored strategies that mitigate risks associated with inflation, taxes, and market volatility.
Mike shared: “I believe everyone is One of a Kind; and You deserve a One of a Kind Financial Plan that is about You.”
To break free from these traps, individuals should be vigilant for signs that they may be following the herd mentality or relying on outdated advice. Some red flags include:
High Fees: If clients are paying excessive fees for financial products without understanding their value, it may indicate a need for reassessment of their financial strategy.
Lack of Proactive Communication: If clients only hear from their financial advisors during tax season or when statements arrive in the mail, it may be time to seek a more engaged and proactive approach.
Tax Surprises: Unexpected tax bills can signal that a financial plan is not tax-efficient, which can significantly impact retirement income.
Video Link: https://www.youtube.com/embed/m1of_zt0adg
About Mike Milligan
Mike Milligan, a Certified Financial Planning Professional, author, podcast and radio show host, and university lecturer, brings 26 years of experience to the financial planning industry. After beginning his career in large banks and insurance companies, he founded his first firm 15 years ago with the belief that “everyone is One of a Kind; and they deserve a One of a Kind Financial Plan.”
Challenging the “One Size Fits All” approach to financial advice, which he refers to as “Retirement Déjà Vu,” Mike developed The One of a Kind Financial Plan. This comprehensive plan addresses taxes, retirement income, investments, long-term care, and legacy, enabling clients to live a “One of a Kind Life.” Recognizing the need for a clear retirement vision, he then created Retirement CHI to supplement the plan. This innovative approach focuses on community, health, and impact, further reducing stress for his clients. Mike leads a team of over 20 professionals across the United States, including Hawaii.
Learn more: http://www.1OakFinancial.com
Recent News & Interviews:
Mike Milligan discusses The Sea of Sameness https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-sea-of-sameness/
The information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. Neither Mike Milligan nor his guests are liable for the use of information discussed. Always consult with a qualified investment, tax, or legal professional before taking any action or schedule a meeting with Mike Milligan. Annuity guarantees are based solely on the financial strength and claims-paying ability of the issuing company. Individuals should thoroughly review the contract for specific product features and costs. Income payments and withdrawals from deferred annuities are generally taxable as ordinary income in the year they are taken.