About Stephen Kates: Stephen Kates is a Certified Financial Planner® with over 15 years of experience in wealth management and financial planning. As the Principal Financial Analyst for Annuity.org and RetireGuide.com, he offers strategic insights on market trends and investment strategies. Stephen is also the Founder of Clocktower Financial Consulting, LLC, and has previously served as Head of Financial Planning for Advisor.com. His expertise has been featured on major media platforms including Fox Business, CBS News, and Newsweek.

In this episode, Shawn and Stephen Kates discuss:

• The importance of risk management in retirement planning
• Balancing growth and stability in retirement income
• The growing role of annuities
• Financial literacy’s role in retirement success

Key Takeaways:

• Managing risk in financial planning is crucial, as retirees who are overly exposed to high-growth investments may face significant emotional and financial stress during market downturns, requiring careful reassessment of their portfolios.
• Essential expenses in retirement should be safeguarded by guaranteed income sources such as annuities or Social Security to reduce the reliance on volatile markets, allowing retirees more confidence in maintaining their financial security.
• Those who are approaching retirement should focus on adjusting their strategies by balancing growth with protection, ensuring that their retirement portfolios offer both flexibility and stability during uncertain economic times.
• Financial literacy is an indispensable tool for making informed financial decisions, as people must be able to identify reliable information and avoid the pitfalls of misleading advice or scams in an era of overwhelming digital content.

"Having some level of financial literacy... is going to allow younger people to not go down some road, get scammed, you know, do something silly." — Stephen Kates

Connect with Stephen Kates:

Website: www.Annuity.org & www.StephenKates.com

LinkedIn: www.linkedin.com/in/stephen-kates-cfp

Get a free copy of Shawn’s book “The Priority of Retirement” here- https://www.retirewisepro.com/the-priority-of-retirement

Contact Shawn:

Website- https://www.retirewisepro.com/

YouTube- https://www.youtube.com/channel/UCiIMGdosN-snkV5gFt7FRSg

LinkedIn- https://www.linkedin.com/in/shawn-maloney-retire-wise

Instagram- https://www.instagram.com/retirewise_llc/

Facebook- https://www.facebook.com/ShawnMaloney.RetirementPlanning/

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