On this Cinco de Mayo, while we may not be sipping margaritas at a Mexican restaurant or enjoying “Taco Tuesday” at our favorite local pub, we can make ourselves a mean margarita at home. Just look to Google for a recipe and you will find dozens, if not hundreds of wonderful recipes for the “perfect” margarita. A pinch of this, a splash of that, a little of this… and voila’… a delicious margarita.
While I may not be an expert on making a perfect margarita (although, I will provide an excellent recipe later in this blog), and this isn’t a Dean Vagnozzi article about Cinco de May,I can offer my expertise on the “perfect” retirement.
If I were to dream up Dean Vagnozzi’s perfect retirement, it would include a pinch of relaxation, a splash of traveling, a little (ok, a lot) of golf… and most importantly, no worries. At least, not when it comes to my financial portfolio.
First and foremost, to do this (and I can’t stress this enough)… You MUST NOT be dependent entirely on your 401(k).
The 401(k) was never intended to be the main savings vehicle for retirement. It was originally set up forty years ago as a tax shelter. Essentially, if you leave the money you put into your 401(k) untouched, you won’t owe any taxes until you withdrawal from that account.
However, think about this for a minute. How often (in our lifetime) do our taxes go down? Personally, I can’t think of any time that my taxes have gone down. If anything, they have gone steadily up. Pile onto that, our government having to spend trillions of dollars in 2020 due to the current COVID-19 health crisis and it’s almost a guarantee that taxes will soon sky rocket. Furthermore, if you have to make any kind of withdrawal before you retire, you will be paying hefty penalties, PLUS taxes. And these are just two of the reasons that you shouldn’t be entirely dependent on a 401(k). If I had more time, I could probably give you 20. In fact, there is a Dean Vagnozzi article that goes into it more in depth here.
While, I cannot discredit the 401(k) entirely (particularly if the company you work for offers it as a benefit and contributes to it regularly with matched contributions)and I don’t want a Vagnozzi lawsuit on my hands if you are comfortably retired living off of your 401(k) interest, however, I can say with unwavering confidence that you must explore other retirement vehicles if you would like to enjoy that “perfect retirement”.
Ok, now that I have gotten that off my chest, let us circle back to the fun stuff. Which for me, are out-of-the box investment vehicles that are not reliant on the stock market (and yes, I do think this is fun). You see, I founded my company, “A Better Financial Plan” back in 2010 with one goal in mind. Which was to offer my clients cash-intensive alternative investment opportunities that have nothing to do with Wall Street. And no, we do not sell annuities.
At A Better Financial Plan (ABFP), we go out of our way to research alternative investment opportunities that are unique, diversified, pay a rate of return between 10-14% and will not create a high-tax situation when you retire. Especially when you need it the most (when you are retired and on a fixed income).The asset classes that ABFP offer are hand-picked and reviewed by our team of lawyers and accountants and all carefully vetted.
Just one look at abetterfinancialplan.com and you will see the proof. Dozens of videos and audio clips from very happy clients. Not to mention, a recent full-page spread featuringover 35 testimonials about Dean Vagnozzi in the Philadelphia Inquirer.We could have put more, but we ran out of room!
Within the past decade, ABFP has invested over $200 million for our clients, who typically invest approximately 25 – 50% of their portfolio within ABFP’s alternative investment offerings.If you’d like to hear more, don’t hesitate to contact us. You can find all of the different ways to get in touch with us at abetterfinancialplan.com.Once we hear from you, we will listen to your retirement goals and educate you thoroughly on all of the investment classes that we offer.
Now back to that perfect margarita recipe that I promised:
2 lime wedges, for rimming glasses and garnish
1/4 c. kosher salt or coarse sea salt, for rimming glass
4 oz. tequila
2 oz. triple sec
1 1/2 oz. freshly squeezed lime juice
1. Place salt on small shallow plate. Rim two glasses with lime wedge, then dip in salt to coat rim.
2. Divide tequila, triple sec, and lime juice between 2 glasses and stir to combine. Top with ice, garnish with lime, and serve.
*Recipe courtesy of Lena Abraham at Delish.com. You can find the full recipe here: