Pete Tychsen discusses the importance of a balanced retirement strategy
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/pete-tychsen-president-and-founder-of-preservation-financial-group-discussing-a-balanced-retirement-strategy/
Pete Tychsen, president and founder of Preservation Financial Group, discusses the importance of having a balanced retirement strategy. Pete shares his journey into the financial services industry, which began after graduating from Florida State University in 1986. With a passion for helping individuals manage their finances and prepare for retirement, Pete introduces his innovative three-bucket strategy designed to create a well-rounded retirement plan.
A balanced retirement strategy is essential for ensuring financial security during retirement. One effective method to achieve this is by dividing assets into three distinct buckets, each serving a specific purpose. This approach helps retirees manage their income needs while also allowing for growth potential. Here’s a closer look at the three buckets:
- The Blue bucket: Designed to meet immediate income requirements. This bucket typically contains low-risk, liquid investments, such as checking and savings accounts. The primary goal of the blue bucket is to provide readily accessible funds to cover day-to-day expenses and unexpected costs without the need to sell investments at a loss during market downturns. Provides peace of mind and financial stability, allowing retirees to avoid the stress of market fluctuations.
- The Green Bucket: The green bucket focuses on providing protected income over the first 10 to 15 years of retirement. This bucket is crucial for retirees who want to ensure a steady income stream without depleting their savings during market volatility. Protects principal while providing income, helping retirees avoid the risk of running out of money prematurely. It also allows time for the stock market investments in the red bucket to grow without being affected by short-term fluctuations. This bucket also provides financial stability, allowing retirees to avoid the stress of market fluctuation.
- The Red Bucket: The red bucket is intended for long-term growth and is where retirees can invest in the stock market. This bucket is essential for those looking to grow their assets over time, replenishing the other two buckets as needed. Offers the potential for higher returns, which can be used to support income needs later in retirement. This bucket is particularly important for younger retirees who have more time to recover from market downturns.
Pete Shared: “I take the Boring and the Complex and make it simpler for a more Worry-Free Retirement.”
About Pete Tychsen
Pete is the President and founder of Preservation Financial Group in Tallahassee.
Pete has been helping local residents plan their retirement since 1996 and focuses on the areas of IRA/401(k) distribution, tax strategies, asset protection, and income planning. Pete’s approach has helped his clients:
- Avoid needless taxation on IRAs/ retirement accounts
- Protect their principal and create a secure retirement income
- Avoid unnecessary risks with their retirement assets
- Use Retirement Plans to build a lasting legacy for children and grandchildren
Pete regularly conducts seminars on a variety of financial topics to groups, including Executives, Educators, Government and State employees – as well as to the general public. Pete is the author of Retire Worry-Free: Your Guide to A Simpler, Safer Retirement.
Pete is a Florida State University Alumni and lives in the Tallahassee area with his wife LeAnne and their five children, Andrew, Anna, Arden, Christopher, and Sarah. When not working to help secure the financial future of retirees, Pete enjoys fishing, hunting, involvement at his church, and spending time with his family.
Investment advisory services are offered through Gibbs Wealth Management, LLC (Preservation Financial Group), a SEC Registered Investment Advisor. Insurance products and services are offered through Preservation Financial Group. Gibbs Wealth Management, LLC (DBA Preservation Financial Group) and Preservation Financial Group, are unaffiliated companies.
Learn more: https://www.PFG12.com or https://www.preservationfinancialgroup.com
Disclosure* Pete Tychsen, an Investment Advisory Representative (IAR), offers advisory services through Gibbs Wealth Management (GWM), an SEC registered investment advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Preservation Financial Group and GWM are independent of each other. Insurance products and services are not offered through GWM but are offered and sold independently by Preservation Financial Group, Pete Tychsen, License #A269903 (FL), #3000456732 (AL), #446503 (GA), #2426336 (TN), #402223 (NC, SC, & OR).