Testimonials

"Saving for retirement began for the Millers much like it will for millions of other baby boomers. With their two daughters out of college and their son in the Navy, they were finally able to focus on planning for their own future."

Miller’s Testimonial

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

While Karen was able to contribute to a 401k program working as an Occupational Therapist for several hospitals throughout her career, Randy had never had a defined retirement plan as the owner of his construction business.

Surely the Millers had the best intentions to prepare for retirement, but their plans took several different shapes over the years. “When I was young, saving money wasn’t a priority,” Randy said candidly. “Then one day I looked up and realized, wow - I better do something.”

As the owner of a construction company, Randy was able to build and live in homes much nicer than he could have purchased outright, so in a sense the equity his trade afforded in their housing was a plan of sorts. “I always thought if I bought a house right, remodeled it, sold it and walked away with some money in my pocket, I would set myself up for retirement.” Randy said.

While Randy and Karen are in the midst of such a project, they are beginning to realize that even an investment in a property is at the mercy of the market.

Other plans included accounts guided by an advisor through a credit union, but poor performance made even what sounded like a safe investment turn sour. “Our advisor had convinced us that because we had lost 25% and then gained 25% we had earned a 0% average, when in reality we had less than we started with,” Karen said.

The vast majority of baby boomers will retire without a 30-year gold watch and a monthly pension check, so like millions of others, Randy and Karen had to become creative to create a similar income from another source. “We received an invitation in the mail to come to a workshop; we knew that what these people were talking about was different,” Karen said.

The Millers met a group of advisors who thought differently about retirement, who offered products that could never lose value and that were guaranteed to grow regardless of what the market does. Most importantly, these products called Equity Indexed Annuities, offered the Millers an income option that will provide them a stream of income that they can never outlive.

“We couldn’t be happier than with what we have with our annuity. It’s a relief to know we’ve finally put our money where it will help us,” Randy and Karen agreed.

How many more years does Randy plan on working? “40 years, maybe 50,” he said laughing. “I’m never going to retire.”

As they both actively continue to pursue their careers, the Miller’s have already made plans to put more money into annuities. “I work a job where I make chunks of money at a time, and we plan on putting more of that money into annuities when we are able to,” Randy said.

For now, the process of building a second home in the mountains, a legacy their children can enjoy, is added motivation for these boomers to continue to save. And they both will be able to relax in their new log home with their minds at ease.

This peace of mind provides a comfort for Karen. As she puts it, “Just knowing that we won’t lose anything again is the best feeling. The way it grows is even better!”

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