Resolve to Protect Your Nest Egg:

Make Your Retirment Money Outlive You

By Desiree Smith-Daughety | December 2011 / January 2012

Photos by Alison Harbaugh

Will you outlive your retirement money?

According to Rod Borowy, CEO of The Retirement Planning Center in Annapolis, that’s the number one fear held by people in retirement. Borowy says that 72 percent of retirees are more afraid of running out of retirement money than they are of dying.

Borowy has 35 years experience helping his clients safely plan a secure retirement income. He is a nationally recognized expert in retirement income distribution planning. “I specialize in all aspects of retirement planning. As a registered financial consultant, certified senior advisor, certified insurance counselor, and one of Ed Slott’s ‘Elite IRA Advisors,’ I show my clients ways to protect their retirement money.”

This includes estate planning —and making sure your heirs get what’s left. “People have a real beef about leaving an inheritance to Uncle Sam.”

Borowy has served two terms as chairman of consumer education for the Baltimore Life Underwriters Association.

If you’ve been putting off getting your retirement planning reviewed—or even launched—it may be time to add some investment resolutions to your perennial favorites. The beginning of the New Year is a great time to get on track, and retirement planning can literally pay you in quantifiable dividends starting today.

“If you’re 65 today and in good health, chances are you’ll live into your 90’s. There is more to plan for as a result of our living longer,” says Borowy. “Many of my clients are concerned with how to keep pace with inflation, market volatility, and whether taxes could eat away at their retirement dollars. Things like cost of living adjustments to keep pace with inflation need to be taken into account.”

Plan to Succeed Later in Life

Borowy’s mission is to both prepare his clients for, and guide them through their retirement years, handling such details as the planning of income distribution, tax benefits and deferrals, and the general security of their nest egg. “Diversification is so important. I would rather see a small gain and know that my client’s money  is safe, then to promise a large gain and wind up losing value”

Borowy, along with his wife Toni, host retirement planning-related radio programs on 105.7 FM The Fan on Saturdays from 7 to 7:30 a.m., and 1430 AM WNAV on Sundays from 9:30 to 10 a.m., as well as host retirement planning seminars around the Bay area. (For seminar locations and dates, go to http://saferetirementsolutions.com).

“I’ve seen some changes in planning behavior over the past few years. Some people have lost a significant chunk of their portfolio; so now they are a lot more conservative—and diversified. And as a fully independent planner, I don’t report to a board of directors, I only report to my clients. I also have the freedom to pick and choose from dozens of companies to invest with to make sure my clients’ portfolios remains diversified.”

Keeping our Plans on Track

 

Borowy requires that his clients come into the office once every six months for face to face consultations. “Of course, they can come in for a consultation as often as they like, but the six month review is critical because things can change and sometimes we need to make adjustments,” says Borowy.

Income planning is so important in retirement: “I never have anyone say, ‘I’m spending less now than I thought I would’!”

 

Borowy stands by one old adage—with a twist: “A failure to plan is a plan to fail—especially with retirement. If you feel like you’re lost in the woods with your investments, come in and talk to us.” Borowy offers an initial one-hour complementary consultation.

If you don’t have a financial plan, or even if you do, ask yourself, “What are my investing or financial resolutions for this new year?”

For more information on The Retirement Planning Center and its services, call 410.266.1120 (Toll Free 877.268.4086), email rod@saferetirementsolutions.com, visit http://saferetirementsolutions.com/ or stop by 1997 Annapolis Exchange Parkway, Suite 300, Annapolis, 21401.