Ron Roberts discusses the significance of guaranteed retirement income planning
Listen to the interview on the Business Innovators Radio Network: Interview with Ron Roberts Founder and CEO of Roberts Retirement Group Discussing Guaranteed Retirement Income Planning – Business Innovators Radio Network
In today’s financial landscape, the significance of guaranteed retirement income cannot be overstated. As traditional pensions become increasingly rare, individuals are finding themselves more reliant on 401(k) plans and other investment vehicles that are subject to the unpredictable nature of the stock market. This shift has profound implications for financial security in retirement.
Historically, many retirees enjoyed the security of pensions, which provided a steady stream of guaranteed income for life. However, as Ron Roberts points out, many companies have phased out these pension plans in favor of 401(k) plans. While 401(k)s offer certain advantages, they also come with inherent risks. The value of these accounts can fluctuate dramatically based on market conditions, leaving retirees vulnerable to economic downturns.
When individuals rely on 401(k) plans, they are essentially placing their financial future in the hands of the stock market. Ron illustrates this through a real-life example of a retiree who had diligently contributed to his 401(k) but faced a devastating loss during the 2008 recession. This individual lost half of his account overnight, forcing him to return to work to make up for the lost income. Such scenarios highlight the risks associated with market-dependent retirement plans, where fluctuations can lead to significant financial stress and uncertainty.
Given the volatility of the stock market, having a guaranteed source of income in retirement is essential. Ron emphasizes that retirees need income they can count on—similar to the security once provided by pensions. Guaranteed income allows retirees to cover their expenses and enjoy their retirement years without the constant worry of market fluctuations affecting their financial stability.
To mitigate the risks associated with market dependency, individuals should consider strategies that provide guaranteed income. One effective approach involves rolling over existing 401(k) funds into guaranteed income products, such as annuities. These financial instruments can offer both protection against market losses and a reliable income stream.
Ron explains that legal reserve companies, which back these annuities, have been in business for over a century and are regulated to ensure the protection of principal. This means that regardless of market conditions, retirees can count on their income remaining stable. Additionally, many of these products feature annual resets that lock in growth, providing a safeguard against losses while allowing for potential gains.
Ron explained: “Today, we have indexes that not only are matching inflation, but are exceeding inflation. And we now have indexes that are paying double digits now and you will need double digit returns to maintain your standard of living to maintain the inflation growth.”
In conclusion, as traditional pensions become less common and individuals increasingly rely on 401(k) plans, the need for guaranteed retirement income has never been more critical. By understanding the risks associated with market fluctuations and exploring options for guaranteed income, retirees can achieve greater financial security and peace of mind in their golden years. The strategies discussed by Ron Roberts offer valuable insights into how individuals can prepare for a stable and fulfilling retirement, free from the stress of economic uncertainty.
Video Link: https://www.youtube.com/embed/5trKjY-FN0s
About Ron Roberts
Ron was born in Burbank California and grew up in the Mojave Desert. Being the first of six children born to deaf parents, he learned responsibility at an early age. His commitment to family and faith is unwavering. It’s the essence of who he is and the foundation of his business success. Living for a higher purpose and caring for others has always been Ron’s focus.
After high school, he joined the United States Coast Guard where he learned about hard work, discipline, and duty. He enjoyed serving his country and helping to keep people safe. He grew in experience through training, education, and travel. He developed a love for the sea and enjoys boating and sailing with friends and family.
After completing his time with the Coast Guard, Ron served on a mission for the deaf in Chicago for his church. While there, he formed the first deaf scout troop in Chicago for the Boy Scouts of America. Returning from Chicago, Ron attended college in Stockton, California where he met his wife, Julie. They were married in the spring of 1984. In 1991, Ron and Julie moved to Amador County where they enjoyed raising their four daughters in a close knit community. Ron’s hobbies include reading, boating, sports, and traveling with his family. Ron also volunteered at a private school where he taught history and American Sign Language. Family, faith, and community are the most important things that define Ron.
Ron’s chosen vocation as a Retirement Planning Professional allows him to use his experience, his gifts, and his love for family to help people in a very special way. Ron has been in the retirement planning industry since 1990. Founded in 2002, Roberts Retirement has grown over the years to serve families in northern California and around the country.
Ron has served as President of the California Estate Planning Counsel and continues to mentor other retirement planning professionals all across the United States. He is constantly educating himself on the most up-to-date investment strategies and changes in the financial industry. Ron is recognized as a leader in the industry, is a sought-after speaker, and has been featured in Senior Market Advisor Magazine
Learn more: https://www.robertsretirement.com/
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