A week or so ago while watching TV, they played a clip of a daredevil who jumped out of a plane at 25,000 feet. No big deal right, except for the fact that he wasn’t wearing a parachute. That’s right, this guy jumped out of a plane at 25,000 feet (without a parachute) with the intention of landing in a giant suspended net. Amazingly this had been a dream of his for years, and more amazingly, his wife encouraged him to do it. The stunt was successful as the free-falling daredevil hit the net and was safely lowered to the ground. During the slow motion replay, you can see he actually made impact near the edge of the net, and was literally feet away from a fatal outcome. There are so many things that could be dissected here, but I’ll stick to some really obvious themes like risk and safety, and how they apply to proper retirement planning.
The risk in this scenario is pretty clear, jumping out of a plane without a parachute. Many people use that as an analogy, but this guy really did it! To me, people who haven’t planned for retirement are kind of like jumping out of a plane without a parachute. One day the door for retirement will open, and they’ll have to jump through it, ready or not. Not being equipped to deal with 30 or more years without a paycheck puts you and your loved ones at risk. Your retirement plan should be comprehensive so it can properly balance growth, risk, guaranteed income, and liquidity. To learn more about comprehensive retirement solutions, click here to download our retirement solutions guide.
In this stunt, the daredevil mitigated his risk of death by incorporating a huge safety net to catch him. He had to carefully plan every detail of the stunt. From the size and construction of the net, to the numerous variables of wind, weather, and jump location. Even in this extreme scenario, it’s clear that proper planning at the very least lowers your risk, and could even save your life. And it’s why a proper retirement plan should account for risk and have built in safety nets to catch you just in case.
We meet with people across the spectrum when it comes to being prepared for retirement. Regardless of their situation they all have something in common, they took action by meeting with us. If you’re feeling unprepared for retirement or just not sure if your current plan protects you from risk, then maybe it’s time we meet. During our complimentary, no obligation financial review we’ll see if you’re prepared for the road ahead and assess if you are taking on unnecessary risk. Most importantly, we’ll discuss your retirement goals and how we can help you achieve them. To learn more about our team of retirement professionals, click here and be sure to check out available times to schedule your review.
Remember, a solid retirement plan should give you the confidence in knowing you always have a safety net, and are not free-falling without a parachute.