The Death of Frugal Retirement

A retiree’s greatest fear is of running out of money.

And what causes the fear is the inability to know just how much retirement you will have to finance. So even if your portfolio is considerable, a disquieting feeling of uncertainty makes you put the brakes on spending. And you fail to live your retirement as you had envisioned: enjoying an extraordinary lifestyle both now and during your golden years.

Maybe you drop things from your bucket list. Or visit your grandchildren less often than you’d like. Worse yet, maybe it’s not just big-ticket items you choose not to enjoy – maybe it affects how often you play a round of golf or what you order off restaurant menus. In any case, uncertainty can mean a retirement half-lived. A retirement lived frugally.

So, where does the uncertainty come from? ?

Well, “retirement” is defined as “starting with your last paycheck” and “ending when you pass on.” So you can define your start date, but the closing date is more elusive.

Do you rely on government statistics? Or life insurance tables? Those are based on averages, and you never want to be on the wrong side of an average.

So, whose numbers can you trust? Social Security offers a Longevity Visualizer app [Source: https://www.ssa.gov/policy/tools/longevity-visualizer/index.html ] that says a 65-year-old man born in 1956 is expected to live to age 85. But he has a 10% probability of living beyond age 96. And for a woman of the same age, a 10% chance of surpassing 98.

But what if you never had to worry about how long you’ll live?

Is frugal living inevitable?

No.

Enter Savvly – a revolutionary concept that has come to disrupt the retirement industry. It is an alternative investment that optimizes your retirement by replenishing your later-life funding, thus bolstering your peace of mind.

Powered by blockchain, Savvly manages your investments without taking on investment risk.

Savvly is not insurance. Actually… think of it as the “opposite of life insurance.” Unlike life insurance, instead of paying out when you die, Savvly pays out while you still have life to enjoy – at an age you get to choose. So, for example, does the most conservative assessment of your portfolio say you risk running out of money after age 85? Then, select age 85 as when Savvly’s savings start paying out. And the longer you’re willing to wait, the more you get.

And what if you don’t outlive your money and don’t trigger the release date? You will have no need for the Savvly account, so your heirs will receive a portion of your original principal amount.

In fact, Savvly complements the other investments in your portfolio – stocks, mutual funds, ETFs and insurance. It also adds a form of time diversification, as it takes care of you in the second phase of retirement when you exceed the average life expectancy. And it makes you more at ease spending money today if you know you are receiving a large payout tomorrow.

What is Savvly, and how do you use it?

Savvly grew out of my burning desire to find a way to shore up the retirement prospects of hard-working people from all walks of life. I saw that existing alternatives all carried the risk of provider bankruptcies, plus high fees (yes, many time hidden very well), high commissions and cumbersome rules and cash-out conditions. And that left the industry thirsty for a solution that reloads retirement funding in later years, but one without all the downsides.

By developing a series of proprietary actuarial algorithms, the team at Savvly has been able to take complex concepts and streamline them, so investors are comfortable putting them to use.

How safe is Savvly?

Keeping your retirement funds safe is Savvly’s #1 priority. It uses investment funds from the largest investment companies as safe places for your money to grow. Your assets stay securely within Savvly, invested in the strategy of your choice. In fact, Savvly keeps your money safe from you as well. Funds remain with Savvly until the trigger date, guaranteeing they will be there when you need them most.

What’s next?

Wherever you are on the financial spectrum, your later retirement years may raise concerns about outliving your resources. If they do, consider taking a closer look at Savvly – and its innovative role in ensuring new infusions of money as you maintain a high lifestyle in your golden years.

If you are an investment adviser and would like to explore how Savvly may also help you, let’s schedule a complimentary 15-minute call at your convenience. Booking link here.