I first heard about Golden Reserve ("GR") on the radio, while driving an hour each way from our Dayton-area home to my former job in Cincinnati.
My wife and I had been clients of Fidelity for DECADES, and we trusted them to grow/manage our retirement savings.
Fidelity had recommended that we transfer the bulk of our money to an actively managed account, mostly to reduce the risk of losses during market downturns. For this service, we paid a fee of 1% of assets under management (AUM).
That fee seemed "normal", since most fees seem to run 1 - 1.5% AUM.
But then, I heard GR's radio shows & started to think....
While Fidelity did a good job of managing/growing our savings, I eventually realized (after I retired) that there was still something lacking.
As silly as it might sound, saving money is "easy." Throw money into a S&P Index fund....keep adding money....more money....more money...shake/stir/WAIT. Time value of money, eh wot?
In our case, our money wasn't going into just a S&P 500 Index Fund. It was going into a variety of funds, with very low loads. Over the last 2-3 years, we also paid a 1% AUM fee.
As a result, our money grew.
GREAT, until both my wife & I retired.
OK, now what?
You've got all this money built up over the decades, with a goal of providing funds for a good retirement.
After listening to GR, I learned to consider TAXES and ESTATES.
Saving money is easy. Withdrawing money is also easy. You just make withdrawals whenever you want, out of any of your random accounts.
Right?
NOPE.
While it's "easy" to just pull whatever funds you want out of whatever account, that might result in you getting smacked with unnecessary taxes.
This brings me to WHY my wife & I dropped Fidelity (after decades) and went with GR.
GR offers a holistic "package" of services. Their approach is not so much focused on saving money before you retire, but helping you wisely SPEND your money without throwing money away to Uncle Sam after you retire.
GR not only offers financial services (helping to set up accounts through Schwab), but they look at your individual tax burden. How much can/should you withdraw from which of your accounts (401K, IRA, Roth IRA,....), given your Social Security or Pension incomes. When should you take that money out?
In addition to their CPA-driven advice, they also offer multiple other GREAT services.
Their associates do your taxes every year. No extra cost.
Their associated law firm offers you the ability to create or update your Will, Living Will, Healthcare Power of Attorney (POA), Financial POA, ......and Irrevocable TRUSTS.
A properly set up Trust can help you preserve your home & some other assets so they're not forcibly liquidated if you go into a nursing home.
Trusts are good if you're fretting about going into a nursing home in the random future. Nursing homes cost $$$$......$7-$12K/month here in Ohio. So you've got $500-$900K saved for retirement. Take that money, divide it by $12K/month.....you can see how your money might be quickly gobbled up by the nursing home.
A properly set up Trust can help you preserve your home & some other assets so they're not forcibly liquidated.
NOTE: I'm not a lawyer (just a retired engineer & ICU RN) ...all my vague mumbling words are merely from the perspective of a happy GR client. Your mileage may vary....void where prohibited by law...hug your kids, pet your critters.
YES, GR bribes me. During our annual visits/reviews with Ed Wright at GR, my wife & I am offered free bottles of water or soft drinks. GR also offers occasional "thank you" events for its clients. I recently got to see the latest Tom Cruise Mission Impossible movie, with free soft drinks & popcorn. Goodie for me!
In any case, I'd encourage you to at least consider GR as you approach (or are "in") retirement.
Great folks. Excellent communication. No games. read more
