The Truth About Retirement Planning

| September 14, 2016

According to Pew Research Center, each day an additional 10,000 baby boomers reach retirement age (65 years old). Given today's uncertain economic conditions, it's natural to be worried about retirement planning. And for many people, one driving concern is whether they will have enough money in retirement.

These financial concerns are centered on many factors: healthcare expenses, a comfortable lifestyle, or other interests. But no matter what people's concerns are, one point is clear. The world is different from what it used to be, and as a result, the dynamics of retirement income planning have drastically changed.

With this reality, there's certainly no shortage of books and other materials on financial advice out there. But not all of these materials are equal in the retirement planning advice they impart. In fact, there are many books from “retirement planning specialists”, self-help gurus, or others which are little more than self-promotional gimmicks.  

Tony Robbins & Money: Master the Game – Cons

One example can be found in Tony Robbins and his book MONEY: Master the Game: 7 Simple Steps to Financial Freedom. As a leader in personal development training, Tony Robbins certainly can speak with authority on the importance of self-development and related topics. But he lacks the qualifications and expertise to impart on personal finance.

It's important to recognize the distinction. One criticism reviewers of MONEY: Master the Game have levied is the books lacks in substance. Rather, much of the content is focused on positioning Robbins as a trustworthy financial expert. It does so even though he does not have the credentials to speak on financial issues authoritatively.

And as Cullen Roche wrote in the opinion piece Tony Robbins Doesn't Quite Master the Game of Money in His New Book, there are points where Robbins appears to contradict himself in the advice given (MarketWatch opinion piece, published November 25, 2014). These are a few serious points which undermine his credibility.

The Real Scoop on Money: Master the Game

Tony Robbins enjoys a strong reach of influence. His books, products, seminars, and speaking engagements reportedly have been delivered to 50+ million people across the globe. As a result, many people are likely to take any advice he gives seriously. But it doesn't change the reality that Robbins lacks a formal background in financial expertise.

Given this, it's important to realize that Robbins cannot speak with complete, credible expertise on matters of retirement income planning. And with all of the bad financial advice flowing around out there, people deserve better.

The Secret to Safe Money Success: Education

What's the biggest key to mastering financial freedom, then? Education – complete, actionable financial education from a non-biased, trustworthy source. When an investor is fully informed about their investment options, they are better prepared to make effective decisions for their future.

At RFS Financial, we are committed to helping investors be fully empowered to make sound retirement planning choices. At RFS, we are independent advisors and represent a complete, one-stop center for trustworthy, non-biased information on today's pressing financial topics. We are proud to offer comprehensive planning, options and advice to the retiree community.

We will vigorously analyze and evaluate every financial product we offer before we make any recommendation. We can help you with understanding:

•    Annuities
•    Guaranteed lifetime income planning
•    Maximizing your Social Security benefits
•    IRAs
•    Cash balance plans
•    Long-term care insurance
•    Required minimum distributions
•    And many others

Dependable Retirement Planning Advice

We’ll help you determine and prioritize your retirement needs. And then you can come up with a plan for the best retirement pathway for you. Should you have any questions about any part of your retirement planning process, we’re here to assist you.