Independent Fiduciary Financial Advisor, Chris Arnold, is a leading expert in wealth management and retirement income planning and is redefining the way individuals approach their retirement years. With his extensive experience and expertise, Chris has developed a comprehensive framework that empowers individuals to make informed decisions to enhance their income during retirement.
In an era where traditional retirement planning may no longer suffice, Chris Arnold’s complex approach, aims to equip individuals with the necessary tools and knowledge to secure a financially stable future. By focusing on five key decisions, individuals can maximize their income potential during retirement.
The five key decisions outlined by Chris are:
1. Social Security Claiming Age: Chris provides expert guidance on how to optimize Social Security benefits, enabling individuals to maximize their retirement income. Many people claim social security at 62 and it’s often times because they don’t have other available sources of income during retirement. Deferring claiming can greatly increase the income received from Social Security.
2. Dynamic Withdrawal Strategy: A common withdrawal strategy is the 4 percent rule which takes 4 percent of your initial account balance and adjusted annually for inflation. A dynamic withdrawal strategy should be unique to every individual’s needs based on years remaining and return expectations.
3. Tax-Efficient Strategies: Often times the tax alpha is overlooked when constructing portfolios. Tax efficiency can be greatly improved just by allocating your bond assets to tax free accounts like a Roth IRA or Roth 401k. Then taking stock assets and directing them into a taxable account. Often time’s naive investors proportionately allocate all assets equally across the board without specifying which assets go into which account.
4. Total Wealth Asset Allocation: Your portfolio design should take a more holistic approach. Example being, a retiree that receives 80 percent of their income from social security and other guaranteed income sources could have a more aggressive portfolio than a retiree that only receives 20 percent of their income from social security.
5. Annuity Allocation: Often times naive investors opt out of creating additional guaranteed income from annuities which could greatly improve their situation. Because as of today, there’s only 3 ways to get guaranteed income for life and that is social security, a company pension, and buying an annuity.
Chris Arnold’s innovative approach to retirement and income planning has already garnered significant attention within the financial industry. His expertise and dedication to helping individuals achieve financial security during retirement have made him a sought-after advisor.
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About Chris Arnold:
Chris Arnold is a highly respected financial advisor and the founder of ReDefined Wealth Advisors. With over 16 years experience in the financial industry, Chris has helped countless individuals navigate the complexities of wealth accumulation and retirement income planning. His commitment to providing personalized solutions and empowering clients to make informed decisions has earned him a reputation as a trusted expert in the field.
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Company Name: ReDefined Wealth Advisors
Contact Person: Chris Arnold
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Country: United States
Website: https://www.redefinedwealth.com/