Page 20 - Spring 2016 Regional Matters – RE/MAX of Southeastern Michigan

RE/MAX of Southeastern Michigan
Realtors® can Create Their Own Private Pension
Being a self-employed business owner and salesperson has many attractive qualities such as no income ceilings or work schedules set by other people. One of the perceived drawbacks is that you are on your own when it comes to creating a solid retirement with predictable income. The real estate professional has been mistakenly told that they don’t get to have a pension plan. Rubbish! Of course you do, but it’s up to you to take the bull by the horns to set one up and fund it accordingly.
A recent survey revealed that 47% of Realtors® have less than $25,000 saved for retirement which should be unacceptable to you in your business. It is time to start putting money away for your future right up there with office rent and house payments. It is just as important and maybe even more important!
If you already have a retirement account of some kind you are way ahead of most agents. If you don’t have one what are you waiting for? The next month? The next quarter? The next year? Oh I know, after you make $30,000 more of income right? Let me ask you a question... When would now be a good time to get started? No I said it right, there are no typos. Start to take action after you read this article by placing a call to us so we canhelpyou. Aprivatepensionmightbeagood fit for you but there are other options as well that might be better for the self-employed person.
If you already have a plan, are you funding it with enough money and doing it consistently? Even a few dollars extra put in your plan can have a huge difference in the future when you start taking income draws. Where would be a good place to
put your retirement money to protect and grow it without market risk? A traditional financial planner will tell you about pie charts and predictions as well as a “diversified portfolio” which means different sectors of the same stock market. This is called modern portfolio theory that is actually over 60 years old now and is still being used by most financial advisors.
If you were going in for heart surgery would you feel good about them using technology and procedures from the 1950’s? Of course not! You would want the best modern strategies and equipment employed for your heart surgery. You should demand the same for your money and financial future.
You have the ability to put money away in a private pension and in a tax deferred or tax free environment and never lose a dime of your money when the stock market crashes. Your pension can guarantee your future retirement income will go up every year without fail. These pensions can one day pay you guaranteed lifetime income for both you and your spouse’s lifetime. Your pension program might also be able to help you with future home health care or long term care facility expenses you might incur.
If you’re serious about getting wealthy, then now is the time to come up with a new plan or update your old one. We set up programs like these up for agents and other people all over the country, but we’re located in your own backyard. Email us at john@realestateagentsbuildwealth.com or call directly at 586 944 0794.
20 REGIONAL MATTERS • SPRING 2016
WEALTHCORNER