5 Financial Pain Points

Everyone faces at least one of these financial pain points in life. While you can’t control everything, you can alleviate your fears by finding clarity through basic planning. Here’s how to tackle five of the main pain points you’re most likely to face.

Apple PodcastsSpotifyGoogle PodcastsStitcherTuneIn

The View From The Pinnacle

Everyone faces at least one of these financial pain points in life. While you can’t control everything, you can alleviate your fears by finding clarity through basic planning. Here’s how to tackle five of the main pain points you’re most likely to face.

Thing’s You’ll Learn Along Today’s Journey

[2:01]Running out of money before you die. This is the number one fear. The easiest way to alleviate this fear is to build a plan. Just like if you planned a road trip, you’d use a map to get from one point to another. How your plan is built will depend on your income streams in retirement. You’ll need to do a little problem-solving in order to determine what you’ll need in retirement.

[4:14]Thinking About Taxes. When you meet with your CPA, you are typically looking at what happened with your money in the past. Instead, look ahead when tax planning. It’s important to think forward and see how your assets work together to create efficient withdrawal strategies. The earlier you plan, the better off you’ll be.

[6:53]Fear Of The Nursing Home. We’re living longer overall. Sometimes you’ll only need to go in for a few weeks after a surgery or injury, while other times it is for a longer period of time. The average time is 2.7 years. You can self-fund it and run the risk of not needing it, you can get long-term care, or look into alternative routes through annuities or life insurance with long-term care provisions. You need to look at the costs in your area and then multiply that by three years and decide if you are comfortable spending down your assets.

[9:23]Giving Up A Paycheck. When you leave a job, it might feel scary to no longer have a paycheck coming in. When you look at building a plan, ask how you are going to create your income. Will you use the market with dividends or fixed accounts like annuities or CDs? You can automate these to make it a monthly distribution alongside your social security. Make it look similar to when you were getting a paycheck.

11:24 – Anxiety Over The Market. You can’t control what the market is going to do. When you need income in the next few years you’re probably more concerned about what the market is doing. What you can control is getting a good understanding of the potential upside and downside of where you’re invested. Is that comfortable for you or not? Put together a clearly defined income plan.

Looking Back From The Mountaintop

Resources From Today’s Podcast

Sign Up For A Class With Us

Check Out Our Media Center

Learn More About Sean

Your Guide:

Sean P. Lee – Contact

MORE EPISODES

Ep 105: Having Financial Hindsight

If hindsight is 20/20, what do you wish you knew before now? Instead of wishing you could remake the financial decisions of your past, we talk about the ways you can be more pro-active and prepared for financial decisions now and in the future.

LISTEN NOW »

Ep 104: Easy Ways to Ruin Retirement

After saving and waiting for so many years, no one wants to make a big mistake that could ruin retirement. Making certain assumptions about what retirement will be like may lead to disappointment. On today’s show, we dive into the realities of retirement and some easy ways you could ruin it, drawing on Sean’s insightful conversations with clients as they navigate this new chapter in their lives.

LISTEN NOW »

MEET YOUR HOST...

For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

Questions for Sean?

GET IN TOUCH

MORE WAYS TO CONTACT

(801) 639-0095

slee@erg-slc.com

Investment Advisory Services offered through Elevated Capital Advisors, LLC, an SEC Registered Investment Advisor. Insurance products and services are offered through Elevated Financial Services, LLC.

*Guarantees provided by insurance products are backed by the claims-paying ability of the issuing carrier.

The retirement kit is provided for informational purposes only. It is not intended to provide tax or legal advice. By requesting this report, you may be provided with information regarding the purchase of insurance and investment products in the future.