Anthony Pellegrino Of Goldstone Financial Group Publishes Article On Uninterrupted Incomes

Oakbrook Terrace, IL based Goldstone Financial Group’s Anthony Pellegrino recently published an article with the Chicago Medical Society that discusses how best an individual may fund their retirement and ensure an uninterrupted source of income for the rest of their life. The article is directed at seniors, particularly those in the medical field, who are planning to retire but have no idea how to fund said retirement. It explores the ways in which they can stow away a good amount of money and also have multiple sources of income to ensure that their retirement years are truly the best years. Read the article at cmsdocs.org/news/income-uninterrupted.

“Designing your ideal retirement is unique to you,” says the article. “It’s built on your dreams, goals, passions and interests. Where you live, what hobbies you pursue, if you continue to work or volunteer—all of these choices add up to creating retirement that’s lived on your terms. Achieving this, however, requires a plan.”

The article prescribes a financial strategy which encompasses five key areas of one’s financial life: investment planning, income planning, tax planning, health care planning and legacy planning. One must create an investment plan that minimizes risk and fees in order to maximize growth. However, this is only the first component of a comprehensive retirement plan. Developing an effective plan requires knowledge and experience in financial matters, both of which Anthony Pellegrino has an abundance of. Learn more here: publications.fivestarprofessional.com/books/kndj/.

Income planning is the cornerstone of an effective retirement plan. It aims to address two main concerns: how much money one will need in retirement and where the money will come from. “Unfortunately, there is no Magic 8-Ball or formula that can tell you exactly how much you’ll need,” says the article. “There are unpredictable factors at play: longevity, health, tax laws and inflation all impact your future money. Instead, income planning explores what is known, including your desired lifestyle in retirement and your current and projected assets. A solid income plan addresses the known desires and hedges against the unknown variables to create a plan that allows you to live the retirement of your dreams while protecting you from outliving your money.”

There are five components that make up income planning. Social Security Maximization is the first, and it involves knowing when to start taking social security benefits. The second component is income and expense analysis, which involves developing a thorough understanding of where one’s money goes and where it comes from—which can help one come up with a more effective retirement plan. Inflation plans prepare retirees for the very real possibility of inflation as well.

One cannot predict where the economy will go, so it is important to have a plan in the event inflation becomes a major problem in the future. The loss of a spouse is another possibility one must plan for; a retiree must plan for this eventuality and have solutions for the financial problems the surviving spouse may face in the event of one of them dying. Finally, one must plan for the possibility that they will live for a very long time and thus will need their income to last as long as they do.

Anthony Pellegrino, as the principal of Goldstone Financial Group, has a great deal of knowledge and experience regarding all kinds of financial issues. He has helped over 1,500 clients figure out how to manage their finances during retirement by making use of accounts with lifetime income features to guarantee earnings (and create a sort of lifetime paycheck). He also offers professional asset management through a diverse portfolio of actively managed accounts and securities. Notably, he was named a 2019 5-Star Wealth Manager, as can be seen at fivestarprofessional.com/Social_Posts/CurrentMonth/AnthonyPellegrino_DigitalPost_1.jpg.

Goldstone Financial Group consists of a team of highly qualified financial advisors who all have a commitment to helping people achieve the financial results they desire. “We view it as our responsibility to thoroughly understand your goals and dreams so that we can leverage our experience and knowledge to help you achieve them,” says the firm.

Find out more about Anthony Pellegrino and Goldstone Financial Group online at their official website and other online resources. Additionally, interested parties may contact Anthony Pellegrino or his associates directly to follow up on any further inquiries.