"When you visit the uniquely charming home of Lee and Bonnie Ervin, sorrounded by the natural beauty of Centennial, Colorado, you get the destinct improession they have everything they meed in retirement."

Ervin’s Testimonial

Why The Ervin’s Are Planning For The Future, Even in Retirement.

“The main thing I spend time doing, having retired from the graphic arts and advertising industry, is work as a fine artist painter. Inside our home, we have a greenhouse filled with bromeliads and ferns, an electric Lionel train layout I began collecting at 8-years-old, and a 240-gallon living reef aquarium with coral and salt water fish from all over the world,” Lee said.

“Outside, there are two ponds with more fish, a dozen gardens full of flowers and roses, and a barn that’s home to a collection of antiques, old metal signs, family memorabilia and seven collector cars,” Bonnie continued. “We never run out of things to do.”

The Ervin’s confess they didn’t get comfortable overnight. At the beginning of owning his ad firm, Lee started a pension and profit sharing plan and had what he called “a do-it-yourself program.”

“Our accountant advised us on where to place money. If we had a profit in the business during the year, we’d hold out a percentage – as much as we could for investment. As we were putting money into the plan early on, we never knew how much we’d end up with at retirement. So we just kept going with the idea that there might not be enough if we didn’t keep saving and continuing to let it build,” Lee said.

As the Ervin’s financial sophistication increased over time, hiring an investment planner for strategic guidance, their philosophy on the subject never wavered. “We always played it really safe with what we invested in because it was our money for the future. We didn’t do radical stock market investments that would suffer a large loss if they didn’t work out,” said Bonnie.

At 62-years-old, Lee sold his advertising business to his son, and Bonnie, as the company’s secretary, joined Lee in retirement. Feeling good about what they’d saved, the Ervin’s weren’t yet perfectly satisfied.

“We were set with our investments for ourselves for the long-run. But we wanted to take a portion of our funds and use them for a purpose other than our own personal welfare,” said Lee. “So we took the money and set up a special fund through an indexed annuity for our amazing grandchildren – a college fund we don’t plan to touch ourselves.”

According to the Ervin’s, an indexed annuity made great sense for their particular situation. “The indexed annuity strategy allows you to plan down the road, taking a set amount of money and putting it away for a specific purpose - whatever that may be.

Even if you’re tied in with an investment firm you’ve worked with for a number of years, as we were, annuities are something you should seek out and learn about because not everyone offers them,” said Lee. “But they are ideal for certain things you want to achieve.

Lee and Bonnie also found that indexed annuities aligned with their lifetime philosophy on investing.

“The part we liked best is that there’s no risk to the whole thing. That’s always been our philosophy - not to see how much we could make from investments but to just have the security of them,” said Bonnie.

“From our perspective, it’s a very simple program. Each year, whatever we earn, the money is locked in and it can’t ever go down. By the time our grandchildren are ready for college the fund will be at its maximum earning power, worth four times what we originally put in according to our advisor’s plan. That feels very good to us and to them.”

« Back

© 2011 SWAN Financial Freedom. All Rights Reserved | Design by Max Web Profiling