Arizona Daily Mix host Brad Perry speaks to Cindy Couyoumjian about some important Retirement Tips.
Cindy Couyoumjian recently authored a new book “Redefining Financial Literacy” which is a Wall Street Journal bestseller and Amazon bestseller.
Brad Perry: All right it’s time to talk to my favorite financial planner Cindy Couyoumjian of Cinergy Financial, Cindy how are you doing?
Cindy Couyoumjian: I’m doing great today Brad, how are you?
Brad Perry: I’m doing really good but, I’m going to say it, I’m close to Retirement and I know a lot of people out there are worried about, of course, having the financials to retire, or even while they’re in retirement, and that’s what we’re here to talk about today.
Cindy Couyoumjian: Terrific so what questions you have for me?
Brad Perry: Okay, so let’s talk about income in retirement. We know that you know there’s social security, but I mean lately, Social Security isn’t going to pay all the bills, am I right?
Cindy Couyoumjian: Oh absolutely! I mean, only a small percentage of Americans today get a pension plan. So, why financial literacy is so important, is Americans today, are pretty much put a lot more pressure on for determining, number one, how much they need for retirement, number two, how are they going to get the income on their nest egg that they’ve accumulated most of their lives and their careers.
Brad Perry: So, you said right there – the nest egg… been saving, putting it over to the side… been working hard on it, but again, how do we get that annuity? How does that work?
Cindy Couyoumjian: Yes, so you know different investment alternatives are now available for Investors because the number one thing a lot of investors fear today is once we get to retirement, “Are we going to run out of money,” number one, and number two, longevity risk. A substitute for that pension plan that you may not have with your employer is an annuity, and these annuities – I love annuities! – because I think it’s that substitute or part of your nest egg, that can be allocated to an annuity.
An annuity is an insurance contract with an insurance company that potentially guarantees you income that you can outlive. So, when we’re setting up budgets for our retirees we look at all the sources that are guaranteed, social security, your pension, and maybe we need to allocate some of that nest egg, or that lump sum that you accumulated, into these programs.
Because, I think our number one fear is running out of money today with the lackluster returns we see in the bond market, in the banks, and with the volatile stock market. People have a lot to worry about concerning their retirement.
Brad Perry: You said something very important right there, running out of retirement, and again, you don’t think about it because you’re – “well, I’ve been saving,” “I’ve been doing this…” Why are people running out of retirement already?
Cindy Couyoumjian: Yes, that’s a great question! So, in the last 20 years, we saw our stock market drop 40% three different times! When you have that increased volatility and someone’s taking out, let’s call it, you’ve got a million dollars and your advisor says “Hey, you can take out 4% and live 30 years and not run out of money.”
The problem with low interest rates, because remember, years ago the bond market used to pay 7%, 6%, I mean go to your bank today your banks don’t pay anything, but maybe less than one point. And, even if you go search out some bond funds today, they’re paying one to two, maybe three percent, four percent.
Investors need to really take action steps and understand there are viable alternatives, not just annuities, but alternative investments today such as REITs and business development corporations (BDC). Our clients are enjoying potentially higher durable income than the bond market in the stock market today.
Brad Perry: This is why they need you and your book! Because, things have changed from when they first started to plan for retirement, and that’s probably what you’re saying, that’s why they’re probably losing out on money, because they thought, “Well, I started back here, I should be fine…” with all this changing… and that’s why, again, your book is so important for people to sit down and read.
Cindy Couyoumjian: Really, who the book is meant for is people who have money, and they want to know how to invest it. Because it relates to economic and political changes that are going on before your eyes that a lot of times you can’t see. And options in the book, on strategies to sustain you, so you don’t have to worry about running out of money.
Brad Perry: All right, where can people find the book?
Cindy Couyoumjian: It’s a Wall Street Journal Bestseller, so just go to Amazon and search “Redefining Financial Literacy.” It will give you empowerment and reduce your fears, based on facts and research, and make you more peaceful about entering retirement.
Brad Perry: Nice! And then, of course, the website if they want to get a hold of you to make sure they’re on the right track?
Cindy Couyoumjian: Cinergy Financial, CinergyFinancial.com – we’ll look at where you’re at for retirement planning, give you a road map, and give you some structure and some hope that you’re more prepared than you really think!
To see more interviews with Cindy Couyoumjian and other Financial Literacy videos visit the Cinergy Financial Youtube Channel.
Retirement Advice – Basic Questions you need to ask yourself before you retire:
- When should I retire?
- How much will I need for my retirement years?
- How much can I safely withdraw each year without depleting my investment portfolio?
- How do I provide a legacy for my loved ones?
- Will I be able to rely on Social Security benefits?
- If my pension will take care of me, so why do I need to prepare?
- Should I plan for retirement on my own or get targeted retirement advice from a qualified and experienced financial planner?
The key is financial literacy. Financial literacy, coupled with planning and asking the right questions, will go far in planning a healthy retirement. If you don’t have answers to these questions already, it’s time to get started.
Retirement is one of those life events that many of us procrastinate about. It looms over us on some distant horizon, ignored and put out of mind. And yet the statistics show that an overwhelming number of Americans are ill-prepared for retirement. Are you?
Once you begin asking the right questions, you need to sit down with a qualified and experienced financial advisor to create a plan that is customizable to your specific needs. If you risk going it alone, you risk not utilizing professional guidance. Click below to watch an introduction to what we’re talking about.
About Cindy Couyoumjian
Cindy Couyoumjian’s greatest passion is bringing dynamic investment strategies to her clients to customize each portfolio aimed to address the transitions in one’s life, while staying abreast of the ever-changing economic landscape. She understands that no single approach is the right one for every investor. Her 34 years in the industry have provided her experience, knowledge, and numerous securities licenses: Series 63, 6, 65, 7, 22, 24, 26, and California Insurance License #0719038.
She is committed to enriching the lives of the retail investor through financial literacy by providing education, knowledge, and empowering investors to make good financial decisions. Cindy attributes her success to her unwavering dedication to her clients, her ethics, her enthusiasm, as well as impeccable customer service.
Cindy has devoted herself to pursuing higher education in order to equip herself to better support and guide her clients in a holistic approach to investing, as well as, developing the REALM® investment philosophy. Since 2012, Cindy has been part of an elite group of advisors ranked as one of the Top 10 producers within her Broker-Dealer, Independent Financial Group, LLC while overseeing approximately more than $200 million in assets.
Growing up in Warren, Michigan, she graduated from Oakland University in 1985, with a Marketing Degree. She launched her own firm in 2003 after 18 years with Equitable to provide her clients with top investment choices.
Contact Cindy Couyoumjian
Phone: (714) 210-0549