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Our Process Steps:

Activation

Navigation Review

Plan Guidance

Onboarding

Client Experience Meeting

We offer services in these three areas:

Grow

Prepare for retirement by putting your hard-earned assets to work.

How?

Retirement Income Strategies
Wealth Management
Annuities
Investments
IRA/401(k) Rollovers

Preserve

Protect the assets that can help you live the retirement you’ve always imagined.

How?

Asset Protection Strategies
Life Insurance
Tax-Efficient Strategies
Long-Term Care Strategies

Give

Provide for the people and causes you care about the most.

How?

IRA Legacy Planning
Qualified Charitable Distributions

We can also refer you to professionals who provide the following services:

Trusts
Probate
Charitable Giving
Estate Planning
Tax Planning
 

The Richmond Brothers Philosophy

Planning for retirement has changed… a lot. With the dot com bubble in the early 2000’s, and then the banking meltdown in 2008, we’ve seen some major shifts in the economic landscape.

A trend we’ve taken notice of here at Richmond Brothers are the more frequent occurrences of bear markets than we’ve seen in the last few decades. A bear market is when the market drops 20%. We came close in 2018 when the market dipped to 19.8% according to The Washington Post. And we experienced a bear market in 2020 and 2022 as reported by AP News and CNBC.

To put that in perspective, before 2020 we experienced a bear market in 2007, 2000, and 1987 according to Yardeni Research, Inc. It’s now more important than ever to make sure you have the right protection strategies in place when it comes to your retirement. Without it, you could risk running out of money before your retirement years are done. That’s why we stress the importance of creating predictable and reliable income strategies, rather than hoping the markets will always cooperate.

In our current economic times, depending on appreciation is too risky considering the ups and downs of the market. Your retirement needs to last 20, 30, or even 40 years. And without the right plan in place, it’s possible to run out of income too soon. A good plan takes into account changes in the market, your acceptable level of risk, and the need for creating secure, reliable income for life.

So where do we go from here?

At Richmond Brothers, we believe in doing right by our clients. Whether you are planning for retirement or already in that wonderful phase of your life, we keep your risk tolerance at the heart of the plan we co-create. Our goal is not necessarily to beat the broad market at all times but instead to provide a blend of strategies for our client family members. In the long-run, we aim to help protect your assets, create income streams from safer sources, and have opportunities for growth. In good economic times, while our "safer" or "more defensive" assets could weigh us down, they're also a vital source of comfort when the market and the economy are cooling off, or even in trouble.

Preservation is critical to limiting downside risk. Managing money is different in retirement because of the need to draw income from the portfolio.

Income should be generated through cash flow, or a revenue stream that changes an account over a specific amount of time. Although it may be tempting to rely on appreciation to provide monthly income during retirement, we feel the appreciation philosophy is too risky considering the average returns of the stock market and other investment vehicles.

We aspire to generate all monthly income in the form of cash flow by making use of investments that offer opportunities like dividends and interest. Whether markets are up or down, this cash flow, in addition to the allocation, may help limit risk exposure. Asset allocation is of utmost importance and must be monitored as dividends and interest rates change. Over time, the allocation itself must also be monitored as risk tolerance may also change given the current environment.

We believe in providing enough growth to offset inflation over a given period of time. With interest rates low and the outlook focused on benign inflation, only a minimal amount allocated to growth is necessary. That means opportunistic growth may be utilized when it presents itself. However, given the current environment, you can reduce your risk assets should that correlate with your risk tolerance. When growth opportunities present themselves, you have the cash or conservative assets to reposition and take advantage of them.

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Let’s Get Started

Fill out the form below to schedule your one-on-one meeting with Richmond Brothers. During this meeting, we’ll aim to get to know who you are and what you want out of retirement.

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