May 15, 2013 – Expect the unexpected.

Sage advice generally but a recent Ameriprise Financial Retirement Derailers Survey finds these words of wisdom to be especially true for those with retirement goals in mind.

This comes on the heels of another study we referenced in yesterday’s blog, “Peace and the New Retirement Realities,” so we’re not surprised to see so much attention to this demographic given the 79 million baby boomers in America just beginning to retire.

The Ameriprise study, though, confirms what most people understand intuitively and what Robert Burns observed in his poem “To a Mouse, on Turning Her Up in Her Nest with the Plough” way back in 1785:

“The best-laid schemes o’ Mice an’ Men/ Gang aft agley”

At least that’s how 18th century Scottish poets cautioned people to expect the unexpected.

Yes, chances are good it will rain on your retirement parade at some point.  But with the right umbrella, you might be able to protect yourself from some of those those unpleasant surprises.

For instance:  Most of the retirement annuities we offer have penalty-free withdrawal provisions which allow those working toward retirement to access some of their funds when unforeseen circumstances arise.

Also, one of the best “planning for the unexpected” opportunities that exists today is for plaintiff attorneys who structure their contingency fees.  By electing to spread their fee (plus pre-tax interest they can earn) over a number of years into the future, they can effectively build a series of “rainy day funds” that will pay lump sums throughout their retirement.

And, of course, everybody should have some form of emergency fund that doesn’t have a magnetic stripe on the back.

So whatever your situation, let us help you get ready for your retirement.  With an emphasis of safety and risk mitigation, we’re committed to helping you achieve your financial freedom.