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The weekly email that keeps you up to date on exciting Retirement topics in an enjoyable, entertaining way for free.

Special Announcement

Novus Financial Group is in the process of scheduling its first seminar of 2024. The topic of the seminar is Estate Planning and our special guest speaker is Lori Posani of the Posani Law Office (https://www.posanilawoffice.com). The seminar will be held in Columbus, OH. Stay tuned for more information on the agenda and how you can reserve your seat(s). Dates will be announced soon!

The Impact of High-Interest Rates On Your Life In Retirement

by Eric Seyboldt

In the face of the Federal Reserve's vigorous measures to combat inflation through rate increases, retirees find themselves at a crossroads. The economic landscape is shifting, bringing with it a series of obstacles that could significantly influence retiree lifestyles. Recent years have seen an upward trajectory in interest rates, a move designed to foster economic stability. Yet, this change presents a complex set of challenges for those depending on a fixed income and interest-sensitive investments for their livelihood.

Adjusting Investments in Response to Rate Increases

As interest rates surge, the ripple effects on retiree lifestyles are multifaceted, particularly for those invested in fixed-income avenues like bonds. The rising rates result in a dip in the market value of existing bonds, putting retirees' capital at risk. While newly issued bonds promise higher yields, adapting to this shift demands financial agility from retirees, which may not always be straightforward.

Housing and Borrowing: The Cost of Higher Rates

The escalation in rates extends to the cost of borrowing, altering dynamics in the housing market and affecting mortgage rates. The financial landscape is increasingly intricate for retirees contemplating a downsizing move or counting on home equity lines of credit. These developments could threaten their financial autonomy and necessitate a reassessment of lifestyle decisions.

Savings Accounts and CDs: Navigating Real Returns

Elevated interest rates appear to favor savings accounts and Certificates of Deposit (CDs), offering more attractive returns. However, the reality is that the speed at which rates climb often fails to outpace inflation. This unfortunate mismatch can deplete the actual buying power of retirees' savings, complicating efforts to maintain their desired standard of living.

Strategic Financial Planning: The Path Forward

The paramountcy of forward-thinking financial planning for retirees cannot be overstated. Understanding the current economic shifts calls for a reevaluation of one's investment portfolio, highlighting the need for diversification and assets resilient to the pressures of rising rates and inflation.

Conclusion: Safeguarding Financial Health in Times of Economic Uncertainty

The Federal Reserve's strategy, although primed for the broader goal of economic stability, demands that retirees stay proactive and adaptable. To navigate this evolving economic landscape successfully, a deep dive into the intricate dance of interest rates and investment strategies aligned with lifestyle aspirations is essential. In these uncertain times, seeking customized financial guidance emerges as a crucial step for retirees aiming to mitigate the impacts of rate increases and secure their financial well-being.

Contact us to schedule a free, 10-minute consultation call. Together, we can discover ways to enhance your retirement income, making sure your later years are as joyful and carefree as you've envisioned. Drop us an email or call us now to book your consultation. Let's turn your retirement aspirations into reality!

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TIP OF THE WEEK

Smart Retirement Strategies: How to Make Your Money Last as Long as You Do! Part IV of IV

by Eric Seyboldt 

Maximizing Your Post-Retirement Wealth: Mastering Expense Management

In Part IV of this series, let's discuss managing expenses. we're diving deep into an essential skill that is pivotal for preserving your delightful lifestyle and happiness post-retirement: mastering expense management. This intricacy involves stretching your retirement savings and enabling you to relish your days of leisure without the shadow of financial worries looming over you.

Managing expenses post-retirement isn't synonymous with drastically cutting down on every slice of joy or embracing an overly frugal existence. Instead, it revolves around making astute financial decisions that resonate with your aspirations and dreams. Let’s explore a few actionable strategies to aid in your pursuit of ensuring your retirement nest egg sustains through the bliss of your golden years.

Budgeting: Your Financial Compass in Retirement

While budgeting might strike some as mundane, it is indeed the bedrock of achieving financial autonomy in your post-career years. Gaining insight into where your resources are allocated monthly grants you the power to make adjustments where necessary, all without compromising your standard of living. Consider budgeting your personalized financial navigation tool through the intricacies of retirement.

Achieving Balance: Reducing Costs While Savoring Life

Trimming down your expenses doesn't have to equate to forsaking the pleasures life has to offer. Start with simple measures like canceling unutilized subscriptions, opting for less frequent but more memorable dining experiences, and pursuing hobbies that are enriching rather than expensive. It's about striking a perfect balance and making choices that foster both joy and financial serenity.

Proactive Healthcare Management: Guarding Against the Unforeseen

Healthcare stands as one of retirement's most substantial and unpredictable expenses. Proactively preparing for healthcare and long-term care costs can prevent unforeseen medical expenses from disrupting your financial stability. Leveraging health savings accounts (HSAs) or securing insurance policies tailored for retirees are prudent ways to buffer against these potential financial shocks.

The Merit of Flexibility

Retirement is a vibrant, evolving journey, demanding a flexible approach to managing expenses. Consistently evaluate your spending habits and fine-tune your budget in response to life’s changes. Your budget is a living entity meant to adapt, ensuring your retirement savings continually mesh with your evolving lifestyle needs.

Sometimes tackling the strategies for budgeting and expense management in retirement can seem overwhelming, but remember, you're not navigating these waters alone. We're here to guide you through, ensuring you march confidently into your retirement years equipped with the knowledge to manage your expenses adeptly.

Reach out to us for a complimentary, 10-minute consultation call. Let's explore together how we can help you maximize your income in retirement, ensuring your golden years are as fulfilling and worry-free as you’ve always imagined. Email us or give us a call today to schedule your consultation. Let's make your retirement dreams a reality!

Client Q & A of the Week - Pay Uncle Sam Now, or Pay Him Later?

Client: Mark, should I downsize my home when I retire in two years and buy a new property that won’t need as many repairs in the upcoming years?

Mark: Generally speaking, downsizing your home has been an effective strategy for ensuring you don’t run out of money during your retirement. It typically meant that you would have lower mortgage rates, less maintenance, and lower property taxes. However, as the economic landscape evolves, one of the most notable shifts has been the rise in interest rates. This trend has profound implications, especially for those transitioning into retirement. Understanding how these changes affect mortgage rates and, by extension, retiree lifestyles is crucial for anyone looking to maintain a comfortable way of life during their golden years.

For many, the dream of retirement involves downsizing – moving into a more manageable home to optimize financial resources and enjoy a carefree lifestyle. Yet, the recent surge in interest rates has thrown a wrench into these plans. With mortgage rates climbing, the monthly payments on new home purchases have skyrocketed. This reality hits retirees particularly hard, as they often depend on fixed incomes. The result? A direct blow to their ability to afford new homes and a strain on their overall quality of life.

But the impact of rising interest rates extends beyond just mortgage rates. As these rates increase, the housing market often slows, a trend that can make it difficult for retirees to sell their existing homes at anticipated prices. This standstill in the market creates a significant hurdle for those wishing to transition to smaller, more manageable properties, complicating both their financial planning and their envisioned retiree lifestyles.

However, all is not lost. For retirees facing these challenges, strategic planning and flexibility can pave the way forward. Exploring alternative housing options, seeking financial advice tailored to navigating higher mortgage rates, and adopting a patient approach to buying and selling can all help mitigate the impacts of a shifting economic landscape on retiree lifestyles.

By staying informed on mortgage rates and remaining flexible in their housing and lifestyle choices, retirees can navigate these changes successfully, ensuring their golden years remain bright.

Please feel free to email Mark at [email protected] if you’d like to ask any questions or request information on retirement topics that are on your mind.

REAL ASSETS, Invest Like the Ultra-Wealthy 

Is the US Dollar going to have much value in the future?

If, like many Americans, you’re looking for ways to diversify and protect your retirement savings against economic and geopolitical uncertainty this year, we have some answers for you...

Whether we’re talking about the debt ceiling worries, high inflation, high interest rates, high government spending, dollar devaluation, or overall unpredictable markets, we’re truly in a “pick your poison” situation that our nation has never experienced before.

One defensive investment strategy gaining prominence is the conversion of part of your IRA or 401(k) into physical gold or barrels of Bourbon. Here's why this could be beneficial: 

Allocating funds into the asset class known as “Real Assets” may be a strategy that you should consider.

Ask us how to Rollover a portion of Your IRA or 401k To A GOLD IRA (link below) or a BOURBON IRA (www.bourbon.fund/how-it-works/) and:

• Safeguard your assets from the collapsing dollar

• Incorporate the ‘REAL ASSET’ class into your portfolio like the ultra-wealthy

• Hedge against the current high-inflation conditions

• Protect your retirement assets against economic crises

Just get in touch. We make it easier than ever.

Feedback or Questions?

You’re invited to get in touch with us if you’d like to find out how the Novus Financial Group can help you on your journey to a happy, fulfilling life in Retirement. 

We have a lot of great information, as well as podcasts from our radio show ‘The Financial Insider’, and tools on our website - www.novusfg.com.

[email protected] www.novusfg.com [email protected]

Office: 614-943-2265

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Investment advisory services are offered by duly registered individuals on behalf of CreativeOne Wealth, LLC a Registered Investment Adviser. CreativeOne Wealth, LLC and Novus Financial Group are unaffiliated entities.

The content we provide here isn’t financial advice and cannot be taken as such. Please speak to your financial advisor before making any investment decision. Also, note that every investment comes with its risks and drawbacks. Lastly, we would like to remind you that past results cannot guarantee future returns.

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