Blog Layout

Is time really on your side? (It may be...)

Darryl Rosen • Dec 08, 2022

This I did not know!!!

Mick Jagger attended the London School of Economics and originally considered a career in insurance. Back in his 20’s, as a young business-minded fellow, Jagger told his accountant, “I’m not going to be singing rock and roll when I’m 60,” and asked him to draw up a retirement plan. 

Clearly, Mick’s view of what life is like at 60 and beyond has changed!

What about you? Do you feel younger than you thought you’d be back when you were just starting out?

Statistics show that if you are in your 50’s, with some luck and good health, you probably have decades yet to go. 

Here are the stats 

I draw two lessons from these numbers:


  • Make sure your retirement plan is “long” on longevity. My software defaults to the early 90’s and I don’t change it for anyone!


  • Make sure your essential monthly expenses are covered.


When you have your essential monthly expenses covered, you can live life the way you want in retirement. 


A good retirement income plan is the foundation of financial security. 


Think about it this way: Your needs and most of your wants should be covered by some sort of clearly defined income source. There are many options. The image below will give you a visual representation.



List your non-negotiables on the bottom. List your wants - or your “comfort money” in the middle tier. You can list your wishes or dream money on the top level.


Basic expenses like housing and utilities will be top of mind. But don’t forget “what-ifs” like boomerang children - those who return to the nest - or things like entertainment and bucket list items. I don’t want to tour America in a motorhome but maybe you do!


Ask yourself, “Does my plan ensure I have enough money to live as I want and as long as I can?”

You might also like

When a Spouse Dies

By Darryl Rosen • 19 Mar, 2024
When your spouse dies. 63% of the time when a spouse dies, it’s the man. According to the NIH, when this happens, on average the widow (or the wife) lives another 12 years. 3 things happen in short order when someone dies. Income decreases by as much as 50% with the possible loss of social security and pension. Taxes increase the following year because single tax rates are more punishing than married rates. If the deceased had an IRA or 401K, the widow still has to take Required min distributions but now at higher tax rates. Expenses go down but not by as much as you think. Only 20% on average per the Government Accountability Office. Think about it this way. Variable costs like medical and food, etc. will decrease but what about fixed expenses. My FIL passed in December. Jill’s Mom still has the house to contend with. All of this is to say please build these types of scenarios into your plans. If you have questions, feel free schedule some time to speak with me.

Annuities Simplified: What you need to know before buying!

By Darryl Rosen • 07 Mar, 2024
Are you looking for a reliable source of income in retirement? Annuities may be the answer! Watch this video to learn how annuities can provide guaranteed income and simplify your retirement plan. Say goodbye to financial worry and hello to a comfortable retirement!

Overcoming Financial Blunders

By Darryl Rosen • 02 Mar, 2024
Are past financial slip-ups haunting your investment decisions? You're not alone. In this insightful video, @erinkennedytv and Darryl delve into expert advice on navigating investment and financial choices after making mistakes. From acknowledging past blunders to crafting a brighter financial future, discover actionable strategies to thrive in your retirement journey.
More Posts

Contact us

Share by: