TAKE THIS JOB AND SHOVE IT

With respects to David Allan Coe and Johnny Paycheck

I have the privilege to work with people in planning the rest of their lives. Most of them have thought about not working any longer, but their thoughts are often more about what they wouldn’t be doing rather than what they could be doing.

As a retirement planner, I get to dream with my clients – what would they do if they had the time and money? You may be surprised to know that this conversation usually takes place over several meetings of an hour or more. There is a lot to think about when you lose your assumptions about how income and money will work in retirement!

Most people have thought about the income they’ll need in retirement. It’s often a replacement for their current paycheck, where they can save for big items like they do today. If you want to maximize your money, you must think differently about it. What is the life you really want to live, not just what you can get by on? Sure, you’d like your last check to bounce, but how much can you really withdraw from your assets – and when – to be confident you’ll have enough to the end? How much is going to go to pay taxes? When you withdraw from a traditional 401K or IRA, you’re going to have to pay income taxes on the withdrawal as well. That withdrawal suddenly got a lot bigger. Sadly, these questions often concern people so much that it keeps them from doing the things they’d love to do, when they finally have time to do it.

Just as sadly, this also keeps some people from planning because they think they’ll never have enough money to retire and they work until they can’t. A retirement planner can help you to retire by choice - rather than by chance!

Mike

Mike Mickels is the President and Chief Compliance Officer of CochranMickels Retirement Specialists, LLC and an avid sporting clay competitor. CochranMickels Retirement Specialists provides personalized planning and investment services to individuals approaching and in retirement. CochranMickels Retirement Specialists, LLC is a registered investment adviser. This platform is solely for informational purposes. Advisory services are only offered to clients or prospective clients where CochranMickels Retirement Specialists, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. As a registered investment advisory firm, we are restricted from posting, publishing or otherwise disclosing any form of testimonial which is related to our investment advisory services. Links to websites and other resources operated by third parties are provided as information only, and there can be no assurance as to its accuracy, suitability or completeness. CochranMickels Retirement Specialists, LLC does not endorse, authorize or sponsor the content or its respective sponsors and is in no way responsible for third party content, services, products or information, or for the collection or use of information regarding the web site’s users and/or members.