Starting Over After Your Nest Egg Is Gone

06 Dec 2014

We don’t plan for cataclysmic events but when they happen to us, they can be devastating, both emotionally & financially. Extensive medical bills, job loss, and divorce are some of the top reasons that retirement nest eggs are depleted. Sometimes we have to help out our children unexpectedly, or take care of mom and dad as they grow older. This is life, and it’s not always fair or easy. However, with good planning and a positive attitude, you can recover.

What do you do? Well, you simply start over and begin to rebuild immediately. You may need to postpone retirement, cut expenses, and resave as fast as possible for your retirement. At some point, it becomes a mathematical problem (or solution). You need to save/invest a certain amount (x) to reach the desired income in retirement (y).

There are certain psychological stages we all go through to rebuild. The sooner you can go through them, the faster you can begin to rebuild. Remember, it can always be worse and it probably is for someone else. Being able to stay positive, focused and motivated to improve your situation will undoubtedly get you back on the path for a successful retirement. You can do it!

Good Luck!

Jeffrey A. Johnston, ChFC
President of Premier Investments of Iowa, Inc.

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Premier Investments of Iowa, Inc. are not affiliated.

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Jeffrey Johnston

Jeffrey is originally from Solon, Iowa. He currently resides in Swisher, Iowa with his wife, Prudence, and his three children, Seth, Ian, and Roman. He graduated from the University of Northern Iowa in 1989, where he majored in Finance and Investments. He has 24 years of experience in the investment and estate planning business. He is currently the President of “Premier Investments of Iowa, Inc.” Jeffrey’s main focus is Estate and Investment Planning for Senior Citizens and Pre Retirees. Jeffrey became a Chartered Financial Consultant (ChFC) in 2001. He is the author of many articles on industry related topics and he is a frequent seminar presenter. He is a Board Member TRIAD Linn County Seniors Against Crime, and he is also a past Board Member of the Heritage Area Agency on Aging Task Force. He is a member of CEO Roundtable in Cedar Rapids, a Daybreak Rotary Member, and a member of the Cedar Rapids Estate Planning Council. In March of 2009, Jeffrey became the host of the Premier Investments of Iowa Financial Hour which airs every Tuesday Evening from 6PM -7PM, on WMT 600 AM Radio. In his free time he enjoys golf, fishing, scuba diving, traveling, and coaching son’s basketball teams.