Retirement Questions and Answers

Last December, our member meeting featured a seminar on retirement planning with David Chiera speaking. Members had the opportunity to submit questions to David that were not answered during the course of the meeting. The questions and answers are listed below. Thanks again to David for speaking at our meeting!

Strategic Retirement Solutions - David Chiera
506 Shartom Drive
Augusta, GA 30907

Since David works mainly with older clients, is there a financial planner he recommends for someone young, starting out in their career?
The key is to find someone you feel comfortable with. I would start by asking around with your friends and who they use.

If you have approximately 20 years or more to retire, give an example of a strategy would help with preserving retirement funds.
The first thing I would do is make sure a good part of your retirement money is SAFE. Of course I am partial to annuities, but they are certainly safe. It also depends on where the money is now. If you have most of your money in a 401k or something similar, then your company may allow what is called an "In service, non hardship withdrawal or transfer". This allows you to move some of your money in your 401k to something outside the 401k and somewhere SAFE.

David did an outstanding job in pitching the merits of annuities as a means of preserving and growing wealth. I may want to talk with him in the future, but my problem presently is that I would have to take some serious capital gains to free up funds to put into such a financial tool. Looks like I would have to wait several years for retirement to get access to other assets in my 401K fund.
Maybe so, maybe not. As I discussed in the question above, many companies allow you take some of your 401k money now. Kind of a partial withdrawal or transfer. This would allow you put some monies outside your 401k and somewhere SAFE.

I thought it was well worth my time, and I appreciated David's candor expressed about the state of our national economic health.
Thanks for the kind words.

I enjoyed it very much! It was very informative. I learned a lot from David, he was well spoken and very entertaining as well as knowledgeable. This was a very well organized event. I enjoyed the camaraderie and meeting everyone.
Thank you for the nice comment.

I would have preferred that he spend a little more time on our questions and a little less time on the preliminary "stuff."
I am available for questions one on one any time. Give me a call 706-869-9962 office

This was a good topic. Venue would have gotten a 5, but seeing possums in the ceiling was a bid disconcerting.
That was CRAZY!

I would have liked to see some specific examples of exactly what his financial instruments (i.e. hybrid annuities) involve, including numbers; also, dollar figures, ages of people receiving payments over certain periods of time, etc.
Not a problem. You are welcome to meet with me at my office on Washington Road any time. Call 706-869-9962 office. You can schedule an appointment with my secretary, or leave a message and we will get back with you. Please be patient. With all that is going on with the economy and the market, I am swamped.


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