The Texas Rangers Are Learning A Tough Financial Lesson – What Takeaways You Can Use To Better Protect Your Own Assets

Last year, the Texas Rangers signed All-Star pitcher Jacob DeGrom to a 5-year, $185 million contract. Now, DeGrom is undergoing surgery that will not only end his 2023 season but may take him out of the 2024 season as well.

 

Adding insult to injury, the Rangers turned down the insurance policy on DeGrom’s contract because it was “prohibitively expensive” and are obligated to pay him $30M this year and $40M next year.

 

Putting too much money behind one investment can backfire when unexpected events occur.

Charleston’s Retirement Coach and Financial Advisor Brandon Bowen points out the comparable risks he sees retirees, and pre-retirees, take with their Retirement Income Plans, or lack thereof.

 

Is SS your only protected income source? Are you depending solely on a large 401k or IRA? Is your plan to simply pull 4%-6% annually from your savings, with the hope that the markets AVERAGE enough to support the income?

If you answered “yes” to any of these questions, then you are at risk.

 

On this episode, Brandon shares ideas to help protect your assets from Sequence-of-returns risk, market downturns, and other unexpected events.

 

Begin building your Retirement Income Plan with Brandon and his team at BowenWealth.

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