Cameron Bryant Discusses Never Running Out of Money in Retirement
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-w-cameron-bryant-founder-of-found-revenue-solutions-retirement-specialist-at-federal-employee-advocates-never-running-out-of-money-in-retirement/
Cameron Bryant, founder of Found Revenue Solutions and retirement specialist at Federal Employee Advocates. They delve into the prevalent fear of running out of money in retirement, a concern that often arises during initial conversations with pre-retirees. Cameron shares real-life examples, including a case involving a listener’s elderly mother facing financial uncertainty. The discussion emphasizes the importance of having a clear financial plan that accounts for essential factors such as inflation and taxes, which can help alleviate the anxiety surrounding retirement finances.
The fear of running out of money in retirement is a significant concern for many individuals, often arising from the uncertainty surrounding future expenses and income sources. This anxiety is not unfounded; as highlighted in the podcast episode with Cameron Bryant, many pre-retirees express this fear during initial discussions about their financial futures.
Cameron notes that this fear frequently emerges from clients themselves, indicating its prevalence among those approaching retirement. The anxiety is heightened by the unknowns associated with retirement, such as fluctuating expenses, healthcare costs, and the potential for unexpected life events. For instance, one client expressed concern about his elderly mother potentially depleting her savings, illustrating how this fear can extend beyond the individual to impact family members as well.
Cameron Shared: “I think that it’s a fear because it’s an unknown”
To alleviate this fear, it is crucial to have a clear understanding of one’s financial situation. Cameron emphasizes the importance of calculating the income needed in retirement and identifying any income gaps. This involves assessing various income sources, including pensions, Social Security, and 401(k) plans. By utilizing proprietary software, financial advisors can help clients visualize their financial landscape, significantly reducing anxiety about the future.
One of the key strategies discussed in the episode is identifying and addressing the income gap that retirees may face. Many individuals underestimate their future expenses, believing they will spend less in retirement. However, the reality is often different, as retirees may have more time to engage in hobbies, travel, or other activities that can increase spending. Cameron points out that it is essential to delve into these calculations to create a realistic retirement income plan.
The Importance of Guaranteed Income
Cameron highlights the significance of guaranteed income sources, such as fixed index annuities, which can provide a reliable stream of income throughout retirement. This type of financial product can help mitigate the fear of running out of money by ensuring that retirees have a consistent income, regardless of market fluctuations. The peace of mind that comes from knowing there is a safety net can be invaluable.
The emotional toll of financial insecurity in retirement can also affect family dynamics. As Cameron explains, the burden of long-term care often falls on children, who may feel stressed and overwhelmed by the responsibility. By planning ahead and securing financial strategies that address potential long-term care needs, individuals can alleviate not only their own fears but also the emotional strain on their families.
About Cameron Bryant
Cameron has over 33 years of experience in working with Business Owners, Seniors, Federal employees, and Franchisees in the planning and development of Tax-Favored Retirement plans, Living Trusts, Buy/Sell Agreements, Executive Bonus Plans Marketing and Wellness Benefit programs. I was able to work exclusively with the Franchisee of 7-11, Mobil, Shell, Hallmark, and Yamaha to create personal as well as business Retirement Plans. Working now exclusively with Federal Employees and retirees in helping them understand their benefits and helping them to retire with a sound and stable plan.
Learn More:
https://www.linkedin.com/in/cameron-bryant-48b51014/
https://www.federalemployeeadvocates.com/Cameron/
Recent news and interviews:
- Cameron Bryant discusses the importance of balance in retirement planning: https://authoritypresswire.com/cameron-bryant-founder-of-found-revenue-solutions-senior-retirement-specialist-at-federal-employees-services-association-interviewed-on-podcast/
- Cameron Bryant Discusses the importance of protecting your retirement funds:https://authoritypresswire.com/cameron-bryant-founder-of-found-revenue-solutions-retirement-specialist-at-federal-employee-advocate-on-influential-entrepreneur-podcast-protecting-retirement-funds/
