Even the Rich Worry about Retirement Wealth

Published on January 25, 2016

worried-manEven the wealthy among us have concerns about what their financial lives will be like when they retire. Seems hard to imagine that someone of high net worth would be in that position but a LIMRA Secure Retirement Institute study reports that respondents at three different levels of wealth ($500,000 to $999,999, $1 million to $3.5 million, and $3.5 million-plus) were not fully confident about maintaining their lifestyle during retirement. The study revealed that only 40 percent of respondents were “strongly confident” that they’d be able to sustain their current lifestyle once they stop working.

What’s got these wealthy folks worried?

The study also asked respondents about whether or not they have a financial plan—only about half of them said yes. Of those with a written financial plan, 30 percent reported feeling “extremely well prepared” for retirement, and 54 percent said they feel “very confident” about life in retirement.

Stop worrying … and start self-directing your retirement

thumbs-up-womanHaving a strong financial plan is one important way to prepare for your retirement years, regardless of your income level. Another great way to plan for your future—and avert the market volatility of stocks, bonds and mutual funds—is to include alternative assets in a self-directed retirement plan.

For savvy investors who might already be investing in these assets outside of their regular retirement plan, self-direction can be a great way to ease retirement worries by taking control of your investments. Self-directed investors make all their own investment decisions, based on assets they already know and understand, and they have the potential to build a more lucrative retirement nest egg (and certainly a more eclectic investment portfolio).

So, money doesn’t buy happiness and based on this study, it doesn’t buy peace of mind regarding retirement savings, either. But those investors who wish to control their futures through a self-directed IRA can eliminate some of the worry by investing in a broad array of nontraditional investments.

Even better, the professionals at Next Generation Trust Services are here to make your self-directed investing experience a happy one. Our transaction specialists will ensure you are investing within IRS guidelines and will expedite your transactions efficiently. Our helpful staff is cross-trained so everyone can answer your questions and get you to the right person to help you as needed. And our Starter Kits and other online tools make opening a new account easy.

Have a question about self-directed retirement plans? Contact Next Generation Trust Services at 888-857-8058 or Info@NextGenerationTrust.com

Download our informative white paper to learn more before getting started on the road to a more worry-free retirement.