Maggie Athoe - Financial Strategist

10/12/2022

When you are within 15 years of retirement, these losses will NOT work for you because
YOU DO NOT HAVE ENOUGH TIME TO RECOUP THE LOSSES!

Don’t buy into the “it’ll come back” premise! It does NOT apply to you.

Don’t lose money in your retirement accounts during the RETIREMENT REDZONE! Doing so will force you to either put off retirement or go back to work after retirement.

If you’re within 15 years of retirement and lost money in your retirement accounts due to market loss, COMMENT below or DM, “REDZONE” for more information on how to grow your retirement money safely.

08/25/2022

As interest rates increase, so does the appeal of annuities. How much do you know about these insurance products? Indexed annuities will have their rate of growth tied to an index, such as the S&P 500. Fixed indexed annuity sales were $19.7 billion in the second quarter, up 19% from the prior year. Sales of fixed and indexed annuities have benefitted the most from the current economy, while variable annuities have not done as well.

https://www.kiplinger.com/retirement/annuities

As interest rates increase, so does the appeal of annuities. How much do you know about these insurance products?

08/24/2022

Is Your Retirement Portfolio a Tax Bomb...?

Tax-deferred savings have an associated tax liability that you will have to pay someday. The IRS will only let you avoid taxes for so long. Withdrawals from tax-deferred accounts are taxed as ordinary income. You may take withdrawals without penalty from tax-deferred accounts starting at age 59½, but many investors wait to make withdrawals until they are required to take required minimum distributions (RMDs) at age 72.

Your tax liability continues to grow over time through contributions, employer matches, and investment returns. Eventually, this growing tax liability can snowball, but most investors have no idea of the damage it can cause in retirement.

Here's an example: Imagine a couple aged 40 who have saved $500,000 combined in pre-tax 401(k) accounts. Looks like this couple is tracking well toward a secure retirement. If they keep maxing out pre-tax 401(k) contributions and each receives a $6,000 employer match, their 401(k) accounts will have grown to an impressive $7.3 million by retirement at age 65. They seem to be in great shape, right?

Wrong. The problem is that their pre-tax savings represent a growing tax liability. The couple’s first RMDs will exceed $435,000 at age 72 and are likely to grow as the couple ages, reaching $739,000 at age 80.

Remember: RMDs are taxed as ordinary income. You may have been deferring taxes with your 401k, but what will the tax bracket be 10, 20, or 30 years from now? Do you think they may have a tax problem in retirement?

Enter the Fixed Indexed Annuity option: Grows, preserves and protects your wealth, ensuring you have enough tax-free money that will last until the day you die, and adds a Long Term Care Rider and Living Benefits. As a licensed Life and Health non-captive agent in multiple states, I work with only A rated companies, and I am an expert in this field.

07/08/2022

It’s an unusual time for people approaching retirement. While everyone wants to know if they are financially ready to retire, rising inflation and a slumping stock market may be fueling doubts. Some – especially those without a solid financial plan – may wonder if they need to keep working longer until there is more financial and geopolitical stability.

I’ve worked with many individuals and couples who needed help to feel financially secure in retirement. Many have already taken an initial stab at planning, taking online financial “quizzes” and running numbers through calculators to find answers, and met with a financial advisor that couldn't help them because the minimum criteria are $250,000 to get their attention.

Ask yourself these questions:
-What assets do you own that can be used to fund retirement?
-How much do you plan to spend each month in today’s dollars?
-What kind of lifestyle do you want in retirement?
-How long will your finances sustain you?
-Do you want to leave money for your children and grandchildren?

With this information, I develop diversified financial strategies based on each and every individual's scenario. To ensure that you do not run out of money in retirement, your plan is built for your life expectancy. Let's have an initial Zoom meeting, kick my tires, have a conversation together, and see where we land. No obligation, no fee.

07/06/2022

This is an important article. If you have a portfolio that is NOT diversified (meaning you have your funds invested ONLY in the stock market) you're at risk to lose money every single day.

I can show you solutions that are not invested in the stock market, bring a high rate of return, index your funds, and protect against loss.

The best of both worlds is to diversify.

Investors with a high portion of their portfolios in stocks are feeling the pain.

06/13/2022

Business Insider June 13, 2022

Americans' economic pessimism hit a new all-time-low in June.

The University of Michigan's consumer sentiment index cratered to 50.2 from 58.4 in an early June reading, according to a Friday report. That reflects the lowest level since regular monthly data collection began in the late 1970s. The print also landed well below the median forecast of 58.1 from economists surveyed by Bloomberg.

The decline was powered by worsening sentiments across the board. The university's index for current economic conditions deteriorated to 55.4 from 63.3, while the measure for consumer expectations sank to 46.8 from 55.2. Not only have Americans had it with today's economy, but they also aren't very hopeful that things will get better.

Forty-six percent of surveyed consumers linked their pessimism to elevated inflation, Joanne Hsu, director of the university's Surveys of Consumers, said in the report. That's up from 38% in May and the second-largest share since 1981, when inflation last trended so high.

That share will likely be larger in the final June reading. Data out earlier Friday morning showed inflation unexpectedly speeding up in May to a year-over-year pace of 8.6%. The uptick was largely powered by skyrocketing energy prices, with the cost of gasoline and fuel oil both surging last month. The report countered hopes that inflation had peaked in March and signaled it will likely be harder than initially expected to slow price growth.

Americans aren't optimistic that gas prices will provide relief. Half of surveyed consumers mentioned pricier gas during the university's interviews, up from 30% in May and just 13% in June 2021, Hsu said. Respondents also expect pump prices to rise about 25 cents per gallon over the next year, doubling the May outlook and the second-largest expected price hike since 2015.

The Friday report paints a bleak picture for the future of the economic recovery. Consumer spending counts for about 70% of economic activity, making it a crucial ingredient for bringing the US back to pre-pandemic health. Yet continuously rising prices risk curbing the spending spree.

The Federal Reserve is also raising interest rates at the fastest pace in 22 years. As borrowing gets more expensive, shoppers tend to slow their spending and shift more toward saving their cash.

The spending environment is deteriorating fast, and the latest sentiment data only raises more concerns that Americans could soon retract key economic fuel.

"While consumer spending has remained robust so far, the broad deterioration of sentiment may lead them to cut back on spending and thereby slow down economic growth," Hsu said.

05/23/2022

I was just looking at the S&P and playing with the different views… 1 week, 1 month, 1 year, 2 years, and in simple terms. Yes, the market is up from 2 years ago. Yay! Not so quick. This past year it’s down 117 points, BELOW its starting point a year ago!

All that was gained in the past year has been lost plus some. You just lost a year’s worth of growth. How do you plan for your retirement when your money’s in a 401K or similar and you can’t rely on your money being there? Are you happy gambling with your retirement? Would you go to Vegas and put all of your retirement savings on the craps table?

As a licensed non-captive agent, I can educate you on how to leverage the index strategy, which guarantees no loss due to a market downturn. Doesn't it make sense to take time to understand how you can save, grow your money and guarantee that what you do save is there when you need it most?

05/18/2022

Is a recession inevitable? Who really knows? But you can bet I have balanced my need for protection and growth potential with an IUL Strategy. I'll show you how if you give me a shout!

Whether you’re concerned about protecting your family or building cash value for income later on in retirement, an Index Universal Life solution is the solution for tax-advantaged growth.

What is an IUL? It’s permanent life insurance to help protect your family members if you pass away. It also offers the opportunity for tax-advantaged growth through various indexed interest strategies, which can help enhance your income potential later.

And your money is never actually invested in the market. You’re protected with a guaranteed minimum interest rate in the fixed account and a guaranteed minimum floor rate in the indexed interest strategies.

-Take care of those you love
-Supplement your income in retirement
-Build a tailored legacy or estate planning strategy to pass on wealth to your loved ones without probate process.
-Long-Term Care Rider

The economy was supposed to return to its pre-Covid steady expansion. These three things are blowing that off course, and any one of them could cause a recession on its own.

04/30/2022

Have you checked the performance of your 401K recently? Not just today, but how’s it doing over the past year?

I just spoke with a guy who said it’s down -6%, until he looked while we were on the call and he confirmed it’s down -11% over the past year. AND he continues to contribute 4 figures monthly to it and it continues to decrease.

He’s not only one losing 💰💰💰because of the market’s volatility. You probably are, too. When was the last time you looked at your most recent statement?

If you are serious about protecting your money from further loss, I have the right solution to protect it, grow your gains and have retirement funds from the day you retire until the day that you die. That’s a guarantee

Your 401K does not guarantee a pension for life and there is a greater chance you’ll run out of money if you live to be 80 years old.

Your 401K does not guarantee against no loss of principal and gains if the market goes south.

It’s time to talk. Don’t sit back and think you have time. You don’t. Cause if you continue doing what you have been doing, you’re going to fail.

Give me a shout and let’s set up some time to talk.

03/17/2022

Curious… Do you have a 403b?

Is it up or down right now?

I saw 3 this week that are down - down -21% Alum Rock SD, -10% at Stanford, and -5% from a hospital up in Oregon. That hurts!!!

I have other clients who are working with me and they are seeing growth in their accounts. One client has had an average of 16% growth from 2018-2022. That’s great.

I hate that people are losing their retirement nest eggs… I’ve been there! It sucks. The whole reason I do this business is to help others protect their retirement and to be of service to my community.

If you know anyone who is concerned about their retirement, I would love your referral. I start with education and then if I can help/improve their current strategy, I will offer suggestions. There is no cost to work with me and no obligation.