Living a Happy, Healthy, and Inspired Retirement Your Definitive Financial Guide  Stephanie Fullerton With Steve Fullerton...
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To my grandparents, Clarence and Lola Abbott
Contents  Part I  Begin Preparing .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 1 1   The One Question .  ...
vi   Stephanie Fullerton  Part IV  Fullerton Financial Planning .  .  .  .  .  .  .  .  .  .  95 17   At the Heart  Stepha...
    Part I      Begin Preparing
    Chapter 1      The One Question  M  y husband, Steve, and I love to dream. Especially when we   re on vacation, we wil...
4   Stephanie Fullerton  arms for over three hours. At the end of the day when it was time for me to leave, I finally had ...
Chapter 1   5  risking getting rich. And that risk means you also have a good chance of not getting rich   or, even worse,...
6   Stephanie Fullerton  so important,    or    My stocks   I love them, can   t see retirement without them,    or    Def...
Chapter 1   7 n  n  n  n  n  n  n  n  n  n  n  n  n  n   Volunteering overseas Working for a local cause Hitting par on at...
8   Stephanie Fullerton  whether with us or with another advisor, especially the fees some would rather remain hidden. Par...
    Chapter 2      F  Forget about Forecasting the Market  red Dolman, one of my clients, and I were discussing some funda...
10   Stephanie Fullerton  the peak, buy at the low point, or fine-tune their transactions as Fred thought he was doing. Bu...
Chapter 2   11  years. But by following the S P 500 index starting in 2000, Larry now had just a little over  156,000   on...
12   Stephanie Fullerton  In your fifties, as you near retirement, your financial needs and outlook begin to change, and y...
Chapter 2   13  growth opportunity, and a guaranteed, predictable stream of income for the rest of your life.      Happy E...
    Chapter 3      Know What You Can Control  W  hen Steve and I married, he was already contributing to his 457. He worke...
16   Stephanie Fullerton  You know you cannot control the stock market or earnings on bonds or the direction real estate i...
Chapter 3   17  Why delay collecting Social Security  The longer you wait, the more you will collect with each paycheck. H...
18   Stephanie Fullerton  So the future is not completely out of your control. You can decide how much to save, when to st...
    Part II      Your Partner in Retirement Planning
    Chapter 4     What to Look for in an Advisor  E  arly in my career as a retirement planner, I received a call from a d...
22   Stephanie Fullerton  Amy knew I was in the industry, so she asked if I would do her a favor and visit Barb and see wh...
Chapter 4   23  give important papers to that advisor   certainly so if you suffer from Alzheimer   s. But when you have a...
24   Stephanie Fullerton  If you have advisors in professional fields, such as accounting or the law, ask them for recomme...
Chapter 4   25 n   What certification does the advisor hold  Here are the main ones to look for  c  Registered Investment ...
26   Stephanie Fullerton  remember anyone can write a review  you likely can   t tell if it, whether positive or negative,...
Chapter 4   27  Ask Yourself during the Interview n   n  n  n  n  n   n   n  n  n  n   How friendly is the staff  Does you...
28   Stephanie Fullerton n  n  n  n  n   What are the advisor   s fees for managing your money  How many are on the adviso...
Chapter 4   29  After I had helped Barb and gotten her money returned to its original place, I met with her in my office. ...
    Chapter 5      Trust  I  was interviewing William for a position as advisor in our company. As a certified financial p...
32   Stephanie Fullerton  things are going and hear if you have any concerns. Would it be okay it I take a few minutes to ...
Chapter 5   33  are natural. But does the meeting room have a window to the rest of the office, indicating openness and tr...
34   Stephanie Fullerton  based on your specific circumstances and desires. Our concerns are your concerns. We meet with o...
    Chapter 6      Hidden Fees  T  he Robertsons just wanted us to check their investments handled by a brokerage firm. As...
36   Stephanie Fullerton  We agree that everyone needs to earn a decent living. But if the fees associated with your finan...
Chapter 6   37  cost, that is, the expense ratio, of a US stock fund is now approximately .90 percent per year. To discove...
38   Stephanie Fullerton  sell when there is a difference between the best quoted ask price and the best quoted bid price....
Chapter 6   39  Summary Four of the above hidden costs   expense ratio, transaction cost, cash drag, and tax cost   total ...
40   Stephanie Fullerton  expenses. Because they had an income deficit  their monthly paycheck usually did not cover month...
    Chapter 7      Fiduciary or Broker  By Steve Fullerton  I  n 2008, I had an appointment in our office with a retired c...
42   Stephanie Fullerton  A few years before my meeting with the Goodings, the Los Angeles Times had written about the fir...
Chapter 7   43  Two aspect of the Department of Labor   s ruling are that financial advisors  1.  act in a fiduciary capac...
44   Stephanie Fullerton  So it is not enough to ask if your advisor is a fiduciary. You must ask if the advisor is acting...
Chapter 7   45      Happy Endings     We put together a plan to significantly reduce the Goodings    risk exposure and to ...
    Chapter 8      Team Power  S  everal years ago, a friend called with a special request for her son, a soldier.    Andy...
48   Stephanie Fullerton  Several weeks later, our American soldier, my hero, found himself in a hospital bed, trying to p...
Chapter 8   49  When you interact with team members, do they truly listen to you  Do you sense they understand your unique...
50   Stephanie Fullerton  One of my dearest clients had become like a grandfather to me. I had received the call that it w...
    Part III      The Customized Plan
    Chapter 9      Long Life, Healthcare, and Your Legacy  W  hen Scott and Doris McLaren came to me, they had been paying...
54   Stephanie Fullerton  and it would not cover the costs. Unfortunately, Scott did not qualify for coverage   he could s...
Chapter 9   55  The final number guides us in selecting the right investments for you.  Healthcare During those extended g...
56   Stephanie Fullerton  room in an assisted living facility averages about three thousand dollars a month, or thirty-six...
Chapter 9   57  If you want some of your savings to benefit others, your financial plan must make sure it is protected, no...
58   Stephanie Fullerton n   has the potential to reduce estate taxes  n   keeps the details private  n   more securely ac...
    Chapter 10      Diversification  I  n 2008, I met with the Wrights in our office. They were in their mid-seventies and...
60   Stephanie Fullerton  We all want three things in every investment  1. Safety 2. Liquidity 3.  Market potential You wa...
Chapter 10   61  could not get a price anywhere near what they had paid. I would have to say there is risk in real estate....
62   Stephanie Fullerton  deferred. The possibilities can be mind-boggling, so it   s good to have guidance from a trusted...
Chapter 10   63  potential. Or if you do, run from it. In all likelihood, it   s a scam and not at all as safe as its prom...
    Chapter 11      Creating a Rock-Solid Plan  R  oger and Rhonda Stone had done an amazing job of accumulating wealth fo...
66   Stephanie Fullerton  happen to their savings if he or his wife would need to enter a nursing home. His simple plan di...
Chapter 11   67  We also identify all sources of income. How much net cash is coming in every month, that is, after taxes ...
68   Stephanie Fullerton  Medical costs can be a huge unknown. Although each of us is unique with different levels of heal...
Chapter 11   69  good rule of thumb is to have about six months of income in a liquid savings account. This will give you ...
70   Stephanie Fullerton      Happy  Endings      Fortunately, the Stones had accumulated over 1.3 million dollars, and th...
Chapter 11   71  market were to react as it did in 2008, they would lose over 43 percent  That could devastate their retir...
    Chapter 12      Retirement Plan, Step 1  Accumulate Savings  M  y son, Stevie, was close to graduating from college wh...
74   Stephanie Fullerton  As I got up to leave the office, I patted Stevie on the shoulder and said,    Now, do me   and y...
Chapter 12   75      Happy Endings     Stevie isn   t forty yet. Do you think he has done what I suggested and avoided che...
    Chapter 13      Retirement Plan, Step 2  Preserve Your Funds  D  ave Lamont loved his financial advisor. Yet he was si...
78   Stephanie Fullerton  long-term care costs were projected to be about  250,000, which would put a huge dent in his 1.5...
Chapter 13   79  retirement. The following are some of the considerations your financial advisor should address in the pre...
80   Stephanie Fullerton  Fortunately, Dave had a good foundation  he had done a great job accumulating money for retireme...
    Chapter 14      Managing Taxes  I  meet with many people from all around the country. Over the years, they have given ...
82   Stephanie Fullerton  A Roth IRA can make sense for some. If you don   t invest in a Roth IRA from the start, you can ...
Chapter 14   83  Here is another strategy that is commonly used. Although life insurance is a great tool for leaving a leg...
84   Stephanie Fullerton  This is when life insurance can be an incredible tool. In these cases, we don   t look at life i...
Chapter 14   85      Happy Endings     Because the Grahams were 70  , we divided their RMD into two parts. One part they t...
    Chapter 15      Working with Women  K  athleen came to see me in 2011. She had lost her husband in 2000 and had inheri...
88   Stephanie Fullerton  So Kathleen trusted. Eleven years later, one million dollars were gone and showed no signs of co...
Chapter 15   89  I often see women in that position. They truly feel lost. They don   t understand enough to make a wise d...
90   Stephanie Fullerton  The advisor had never disclosed his fees to Kathleen, so she was shocked by the letter that indi...
    Chapter 16      Living the Plan  O  ne of the greatest rewards I receive in my work is witnessing my clients    emotio...
92   Stephanie Fullerton  of income in retirement. Even if the stock market crashed, they were not going to lose over half...
Chapter 16   93  Do you want to risk getting rich, or do you want to make sure you will never be poor  When the stock mark...
    Part IV      Fullerton Financial Planning
    Chapter 17      At the Heart  Stephanie Fullerton  T  he heart of any company is its leader. That person sets the tone...
98   Stephanie Fullerton  evening, it was time for bed. My mom tucked me in, said prayers with me, and kissed me on the fo...
Chapter 17   99  I am blessed because my grandparents, in a time when my world had been turned upside down, were there to ...
100   Stephanie Fullerton  the spare room in our house, I grew it through the Great Recession and went from just my mom an...
    Chapter 18      The Fullerton Difference  The Power of Your Team  O  ne day, Sharon Tyler called asking that I meet wi...
102   Stephanie Fullerton  Paul said he had stage 4 cancer. It was terminal, and things were happening quickly. In just a ...
Chapter 18   103  the work force and try to find another position. Little did we know that Paul had only a few years to li...
104   Stephanie Fullerton  you, Stephanie. This is a huge burden that has been lifted from me today. I needed to see that ...
    Chapter 19      H  The Fullerton Difference  Customized Plans  ave you ever packed your bags, loaded up the car, grabb...
106   Stephanie Fullerton  Why is it that we spend more time planning a vacation than we do planning our retirement  If I ...
Chapter 19   107  rock-solid plan. We look at what your future expenses are projected to be, what your guaranteed income c...
108   Stephanie Fullerton  my paycheck increases, but it never goes down, even if the stock market finishes the year down....
Chapter 19   109  magic time, their company of changes. Good-bye pension plan  hello Social Security. Regardless of the ci...
Acknowledgments  I  am forever grateful to my grandparents, Clarence    Pop-Pop    Abbott and Lola    Mom-Mom    Abbott. T...
112   Stephanie Fullerton  The third is our growing base of client partners, the very persons for whom Fullerton Financial...
Contact Us  Fullerton Financial Planning 14155 N. 83rd Avenue, Suite 144 Peoria, Arizona 85381 Phone  623-974-0300 Fax  62...