kEEPING IT SImPlE ISN’T STUPId

Chapter 42

kIg It ee P n sIMPle Isn’t

stUPID — HOW TO TURN

YOUR IRA ROLLOVER INTO

5% TO 7% INcOmE FOR LIFE

By steVe JUriCh

ONCE UPON A TIME, ...a million dollars in a 401k and a free and
clear home meant your money worries were over...You could retire, turn
on your pension, collect fifty thousand a year in interest, and still pass
on a million to your loved ones...

That was then, this is now.

Today, after the dot com crash, 9-11 and the 2008 “Black Swan,” Ameri-
cans are not sure where they stand. Is Wall Street on their side? Or is it
a rigged game? As 78 million baby boomers march into retirement at a
pace of 10,000 per day, they aren’t worrying about the same things any-
more. A recent MetLife study found that the number one fear in retiring
Americans is no longer dying, it is running out of money.

It wasn’t too long ago that Frank, a prospective client, came into my of-
fice looking kind of miffed and depressed. At first, I couldn’t understand
why. He seemed to be a very bright man, in pretty good health. As it
turned out, he was sitting on a portfolio of roughly a million dollars and
change. “What could be bad?” I wondered to myself.