Retirement Dreams vs. Retirement Reality

By Sal DeCristofaro

In this book, Sal DeCristofaro explains in simple language and real stories how to eliminate the confusion of planning for your retirement. You'll understand how he believes your retirement should be a top priority and how to properly plan for retirement without taking unnecessary risks.

Each chapter focuses on one of the prim

• Language: English
• Publisher: Expert Press
• Release date: Nov 20, 2020
• ISBN: 9781956220773

Book preview

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Retirement Dreams vs. Retirement Reality

Not the Hope and Pray Strategy

Sal DeCristofaro

with

Shon Peil

Expert Press

Copyright 2023 Retirement Shield LLC

All rights reserved.

Printed in the United States of America.

Sal DeCristofaro

Faro Financial Group

800-444-1388

Email: [e-mail]

Website: www.FaroFinancialGroup.com

Shon Peil

Retirement Shield LLC

24 Roy St. #432

Seattle, WA 98109

—Disclaimer—

The information provided in this book is for informational purposes only and is not intended to be a source of advice or credit analysis with respect to the material presented. The information and/or documents contained in this book do not constitute legal or financial advice and should never be used without first consulting with an insurance and/or a financial professional to determine what may be best for your individual needs.

The publisher and the author do not make any guarantee or other promise as to any results that may be obtained from using the content of this book. You should never make any investment decision without first consulting with your own financial advisor and conducting your own research and due diligence. To the maximum extent permitted by law, the publisher and the author disclaim any and all liability in the event any information, commentary, analysis, opinions, advice, and/or recommendations contained in this book prove to be inaccurate, incomplete, or unreliable, or result in any investment or other losses.

Although the author and publisher have made every effort to ensure that the information in this book was correct at press time, the author and publisher do not assume and hereby disclaim any liability to any party for any loss, damage, or disruption caused by errors or omissions, whether such errors or omissions result from negligence, accident, or any other cause.

Content contained or made available through this book is not intended to and does not constitute legal advice or investment advice and no attorney-client relationship is formed. The publisher and the author are providing this book and its contents on an as is basis. Your use of the information in this book is at your own risk.

Setting Up a Fun Retirement

I enjoy having fun. I like to think fun is part of what I do.

I tried several other careers before I found my niche, retirement coaching. I helped run my father’s plant nursery for several years and also worked for my uncle’s window replacement business. I was even going to be a CPA after attending St. John’s University (before I realized how dry and boring that work would be). But none of them were any fun.

Then I finally found a career I could love — helping people find the fun in their retirement — and I’ve enjoyed every day on the job.

In fact, my dream retirement involves continuing to do what I’m already doing. I spend my free time living a real-life retirement commercial: traveling, going to great restaurants, visiting wineries, and building up the stock in my wine cellar.

Then I go to work and help others achieve their own retirement dreams.

These days, I’m having fun. But it wasn’t always like this…

Getting the Right Guidance Matters

I was never one to go for my annual checkup. My wife always insisted on me going. A perfect example of this was back in 2003 (when again, I gave my wife a hard time about going), but I knew she was right, so I went to see my doctor.

The doctor sent me to have some routine testing done, and the urinalysis showed traces of blood.

I assumed it was kidney stones — but it was something much worse. A CAT scan revealed kidney cancer.

It’s pretty advanced, the doctor told me. You don’t have long to live.

Not only was the news shocking, but we were also extremely upset with the way it was delivered. The doctor broke the news that I had a matter of months left as if it was no big deal and something he told people every single day.

There was no empathy, no effort to share in this horrible moment with us or provide any guidance. He wasn’t interested. I was just another of the many patients he saw that week.

We decided I wouldn’t go to him for treatment. If my wife and I only had a few months left together, we were going to work with a doctor who could muster a little empathy.

So we found another doctor and immediately knew we’d made the right choice. After hearing my situation, the staff did everything they could to fit us in.

The doctor is booked all day tomorrow, we were told, but if you can come at 7 p.m., he’ll stay late to review your case and suggest treatment.

The next evening, we showed up with the CAT scan and no hope at all. The doctor looked at it the scan for a long moment, and then, instead of responding, he took out a pen and paper and drew a picture of my kidney.

First of all, he said at last, I’m sorry for what you’ve been through so far. No one should receive that kind of diagnosis without some emotional support from their doctor.

He paused, gestured to the drawing, and said, But I have good news. The cancer is encapsulated in your kidney. If we remove it quickly, you have every reason to expect to live a long, happy life.

My surgery was a few weeks later, and he saved my life. His follow-up with me has been excellent, even to this day.

I realize retirement coaching may not feel like life and death the way a cancer diagnosis does, but getting the proper guidance early enough to make the right changes can be almost as serious.

Of course, you may feel as if you don’t need guidance on your retirement. After all, you may have someone you already trust to handle your finances. Here’s the thing; even in that circumstance, it never hurts to get a second opinion.

After all, it was a second opinion that saved my life. It could be a second opinion that saves your retirement.

Are You Getting the Best Guidance?

If the person guiding you now isn’t able or willing to show you the full picture of your retirement future and your retirement options, it’s time to talk to someone else.

I totally understand that you may feel your broker or advisor has your best interests at heart, but I’m here to tell you that a second opinion never does any harm. It can absolutely change your life.

After all, ask yourself what your broker or advisor has really done for you. Sure, they invite you to the annual Christmas party and send you a birthday card every year, but are they doing much else than accepting your fees?

What kind of tax planning have they developed for you?

What kind of income planning have they done to prepare for your retirement?

What kind of market protection have they built into your finances to weather the next downturn?

What kind of long-term care protection have they offered you without the expense of buying long-term care?

If your broker or advisor is like most, they’ve put you a bit in the market and trusted the rest to what I call the hope and pray strategy. Their advice is just to hope and pray the market keeps going strong, and you have enough to handle any difficulties ahead. If things don’t go your way, you’re in a lot of trouble.

It doesn’t have to be that way, but you have to do something about it. If there’s any chance your broker or advisor isn’t doing everything for you that they should, it’s time to get that second opinion. Keep in mind: You can’t get a second opinion from someone who’s already given you a first one.

If your broker or advisor has been doing their job, nothing in this book should be new