Rocket Scientist Not Required!

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My grandchildren were visiting for several weeks this summer and we made some great memories.  Slip n Slides, Fireworks, Popsicles and more.  Old-er people can still have fun, but boy, is it hard to keep up.

They liked being in my office and would often bring their toys to my desk. If my doors were closed, they would bolt to the office as soon as they heard the doors open. We can learn a lot through the eyes of a child.

Simplicity.  Keep things simple.  Insurance and retirement planning is more than a simple transaction because of the uniqueness of each family's resources and needs.  But each situation breaks down to something very simple.  Secure the permanent benefits needed and reduce or eliminate risk to money supply! By focusing on what I consider to be most important, benefits and money supply, plans are designed for the ultimate outcome - Peace of Mind.

In any task, career or endeavor there is a starting point,. . . the lowest common denominator.  From an initial starting point many things take place to move from point A to point B and beyond. Or in the famous words of Buzz Lightyear, "To Infinity and Beyond."

I would like to help you with establishing your benefits and money supply.  We'll start with the basics and build from there.

WHEN IT COMES TO RETIREMENT SAVINGS, HOW WISE IS CONVENTIONAL WISDOM?

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And how's it working for you?

By BRUCE SCHLAPPI

You don't have to look far to find big names and heavy hitters who say, "Buy term life and invest the rest in mutual funds."

Dave Ramsey, Suze Orman and others shout this mantra from the rooftops. And they have a right to their opinion. But there is more than one side to every story, particularly when it comes to the complexity of financial planning.

(A quick note: Instead of saying "buy term and invest the rest" again and again, I'm creating a new acronym: BTAITR).

Then there is the matter of consumer (saver) behavior. Just because someone consents to the idea of BTAITR doesn't mean they'll actually do it.

Consultant Pamela Yellen disagrees with the BTAITR approach and she's gotten into several spirited debates. She recently wrote that most people who buy term never invest "the rest" as they would with a whole life insurance policy. 

“People don’t buy term and invest the difference. They most likely rent the term, lapse it and spend the difference.”
— Professor David Babbel, Journal of Financial Services Professionals, The Wharton School of the University of Pennsylvania

However, even if everyone followed the BTAITR policy to the penny, we believe there is a better, safe-money alternative in whole life insurance and annuities.

How are market funds working for retirees today? If your retirement is in high-risk funds, you risk losing not only gains, but your principle. In other words, you could leave with less than you started.

Are you willing to continually risk your retirement?

We believe there is a better way.

Bruce Schlappi is the president of Schlappi Financial Group, a Kansas City-based firm specializing in whole life insurance and annuities-based retirement savings plans.

 

 

 

Slow and steady wins the savings game

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Despite the pizzazz of the hare, he’s likely to burn out fast.

By BRUCE SCHLAPPI

Who doesn’t want to get rich quick?

There are plenty of people who claim they can help you do it. But if they could, everyone would get in on the deal. 

The much more common scenario is going broke quick. But there isn’t much press about that.

The temptation to toss aside wisdom to grab the elusive buck is not new. In fact …

“There once was a speedy hare who bragged about how fast he could run. Tired of hearing him boast, Slow and Steady, the tortoise, challenged him to a race. All the animals in the forest gathered to watch.

“Hare ran down the road for a while and then paused to rest. He looked back at Slow and Steady and cried out, ‘How do you expect to win this race when you are walking along at your slow, slow pace?’

“Hare stretched himself out alongside the road and fell asleep. 

 
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“Slow and Steady walked and walked. He never, ever stopped until he came to the finish line. 

"After that, Hare always reminded himself, ‘Don't brag about your lightning pace, for Slow and Steady won the race!’

Yes, Aesop, the Greek storyteller from 600 B.C., called it centuries ago. When it comes to managing money, or any significant human endeavor, slow and steady brings results.

Long after the excitement has left the hare, Slow and Steady will continue to steadfastly contribute toward a reasonable retirement. And sleep well at night.

The End.

Bruce Schlappi is president of Schlappi Financial Group, a Kansas City firm specializing in whole life insurance and annuities.. 

When is the time to start saving for retirement?

By BRUCE SCHLAPPI

It seems like the time is never right.

We've got to pay off the car, hang on for a raise at work, or refinance our home.

Then we'll find a way to start saving. It's always tomorrow. But tomorrow -- at least when it comes to retirement savings -- never seems to come.

In our short video, learn the value of getting started no matter where you are.

 
 

Bruce Schlappi is the president of Schlappi Financial Group in Kansas City. The firm helps people build safe and sound retirement savings plans that can be counted on to deliver.