Pension Consultants Tops List of Area’s Largest Certified Financial Planners

Pension Consultants, Inc. tops the list of the area’s largest certified financial planner professionals (CFP®)  in the January 18-24, 2016 print edition of the Springfield Business Journal. The article ranks southwest Missouri area companies by the number of certified financial planner (CFP®) professionals and then by financial planning staff. Pension Consultants retains their number one ranking from the previous year. The article also lists assets under management (AUM) and assets under advisement (AUA), and services offered. Listed services include retirement plan management, individual retirement planning, investment management, financial planning, and more.

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The Third Phase of Life during Retirement: No, No, No

Do you act the same today as you did 20-30 years ago?  Do you live the same lifestyle and spend the same amount of money at age 50, as you did at age 25?  If these questions seem ridiculous, why would you expect anything different from your retirement years?  When you think about retirement, and even when you are calculating the needed size of your nest egg, you may only be focusing on that first stage of retirement.  Continue reading

Eight Ways We Sabotage Our Conversations about Money, and How to Avoid Them (Part Two)

Successful retirement planning requires successful communication, but why do discussions involving money turn explosive so quickly? And what can we do to defuse the situation, accomplish our goals, and feel good about ourselves and each other when the conversation is complete?
This article completes the discussion opened in an earlier post, “Eight Ways We Sabotage Our Conversations about Money, and How to Avoid Them (Part One)”.  Here are the final five:Continue reading

Eight Ways We Sabotage Our Conversations about Money, and How to Avoid Them (Part One)

Sue looks back to the events surrounding the disposition of her father’s estate and says, “I’ll never talk to my sister again.” Ron remembers conversations with his siblings about his mother’s long-term care expenses and realizes he’s not going to enjoy the next family gathering, and may not even attend.

Successful retirement planning is not possible without successful communication, but think about the last conversation you had with a family member about money. Was it a pleasant experience or one filled with tension and stress? Did it help you accomplish your goals or leave you feeling frustrated about unresolved issues?Continue reading

Sequence of Returns Risk

One of the greatest risks to a successful retirement is out-living your assets. This could be caused by unaccounted-for inflation, uninsured medical expenses, or just living a lifestyle your assets cannot support for the long term. But sometimes you can save tenaciously, plan fervently, live frugally, adhere to all commonly accepted investing principles and still have your retirement nest egg dwindle. One possible cause of this scenario could be the risk from your sequence of returns.

Sequence of returns risk can be summarized as the risk from the order in which investment returns occur and the impact it has on the longevity of withdrawals available during retirement. Table 1 shows a very basic example:Continue reading