Quarterly Reports

Second Quarter Report 2019
 
The Social Security Environment

Michael Kresh CFP® RF™

Dan Kresh FPQP™

Many of our recent newsletters have been a combination of providing short-term market commentary, and a reminder that short-term commentary should mostly be ignored and often is not useful. So, rather than being redundant here, we want to take this opportunity to inform you of a service we can provide for you, your family, or friends that we think can be quite beneficial for the average person or couple approaching retirement.

Michael was interviewed by News 12 Long Island towards the end of last month after a report from United Income, coauthored by the former chief economist of the Social Security Administration[i], stated that retirees are forfeiting over 3 trillion dollars in benefits (that’s right trillion)! 

Since most retiring Americans no longer have access to a traditional pension[ii], social security may be the only inflation adjusted retirement benefit available that is guaranteed for both your life and the life of your spouse.

Many Americans do not know where to begin when it comes to optimizing their social security claiming strategies. The decision on when, and how, to tap into that benefit appears to be widely misunderstood. People often elect to begin collecting social security at the earliest possible date (i.e. age 62), which is estimated to cost the average American family over $100,000 in lifetime benefits! If you are nearing retirement, it can be extremely beneficial to have a professional analysis of your social security benefit options.

We are set up in our office to do detailed social security benefits analyses for anyone who wants to come in for a preretirement review. We feel so strongly about this, we will be setting up social security benefit workshops in the fall. If you know anybody who is thinking about when they should start claiming benefits, we would be happy to help them.



[i]The Retirement Solution Hiding in Plain Sight: How Much Retirees Would Gain by Improving Social Security Decisions Matt Fellowes, United Income, former Fellow at the Brookings Institution Jason J. Fichtner, Johns Hopkins University, former Chief Economist at the Social Security Administration Lincoln Plews, United Income Kevin Whitman, former Policy Research Director at the Social Security Administration

[ii]Here, “traditional pension” refers to a defined benefit plan that pays out monthly income for life, though many retirees have access to 401ks or IRAs the prevalence of traditional pensions has decreased dramatically and is expected to continue to decline.

 

*Any opinions or forecasts contained herein reflect the subjective judgments and assumptions of the authors only and do not

necessarily reflect the views of Royal Alliance Associates, Inc. All Investing involves risk including the potential loss of principal.

Past performance is not a guarantee of future results.

 

Securities offered through Royal Alliance Associates, Inc., Member FINRA/SIPC

1377 Motor Parkway, Suite 212, Islandia, NY 11749

(631) 232-9170, Fax (631) 232-9175

Advisory services offered through Creative Wealth Management, LLC a registered investment advisor.

Not affiliated with Royal Alliance Associates, Inc.

 
 
 
 
 
 
 
 
 
First Quarter Report 2019
 
We’re here for you, We hear you
 
Michael D. Kresh CFP® RF™ 
 
Dan Kresh FPQP™
 
In our newsletter wrapping up 2018 we reiterated the simple fact that predicting what the market will do in the short term is a fool’s errand. A “bad” 4th quarter of 2018 followed by a “good” 1st quarter of 2019 should have had little impact on a solid longterm investment strategy. Aside from some small tweaks and potential rebalancing, we feel that there were more opportunities to let fear or greed take you off course than there were opportunities to find a better route towards your goals.
 
Rather than continuing to comment on the market, we would like to take this opportunity to remind you of all that we can do for you. Of course, we manage your portfolio to aid in financial decision making and planning to help you reach your goals. We are always happy to facilitate meetings with your tax and or legal professionals to make sure everyone is working together cohesively for your benefit. This is just the surface level of
our services.
 
Money and numbers are important, but you mean more to us than any number could represent. Risks and returns are important, and we love leveraging technology to help analyze numbers, but we also know that there is no substitute for the human understanding of how quantities of money can impact quality of life. We work to understand your picture, your values, your hopes, and your fears and use all that information together to design portfolios that are as individual as you are. As your life moves along, we are here for you, to hear you and help you. Whether you’re thinking about a financial decision (relocating, retiring, purchasing real estate, funding education, purchasing a car, etc.) or a life event has happened, good or bad, we want to be there for you to help you keep moving in the right direction for the benefit of you and your legacy.
 
Please never hesitate to reach out to us with any questions or concerns.
 
*Any opinions or forecasts contained herein reflect the subjective judgments and assumptions of the authors only and do not
necessarily reflect the views of Royal Alliance Associates, Inc. All Investing involves risk including the potential loss of principal.
Past performance is not a guarantee of future results.
 
Securities offered through Royal Alliance Associates, Inc., Member FINRA/SIPC
1377 Motor Parkway, Suite 212, Islandia, NY 11749
(631) 232-9170, Fax (631) 232-9175
Advisory services offered through Creative Wealth Management, LLC a registered investment advisor.

 

Not affiliated with Royal Alliance Associates, Inc.

 

 

 

 

 

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1377 Motor Parkway
Suite 212
Islandia, NY 11749
Phone: 631-232-9170
Fax: 631-232-9175
lrivera@creativewealthllc.com

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