May Newsletter
May 6th, 2020
Captain's Log


We hope that everyone is hanging in there during this crazy time. I know that we're all a little out of sorts lately, including Mother Nature with the projected near-freezing temperatures this coming weekend. But I guess we should be thankful that we're getting a decent spring instead of our usual jump right into the sweltering heat of summer. Nothing feels normal lately, so why should the weather do what we expect? 

There's only so much that we can control, but we feel that it's important to make plans (for anything you're getting ready to tackle) and try to stick to them as best as possible. Having a plan at least gives you something to help guide you - even when we get thrown a curve ball. At JDS, we always talk about making sure you have a proper retirement plan that covers all of the necessary planning areas. This month we'd like to throw it back to an article that I wrote a couple of years ago, but that still rings true today. The article puts a focus on finding the right advisor for retirement and making sure you know your options for income planning. Finding a professional who understands the nuances of retirement planning is the first step to setting yourself up for success in retirement. A big part of retirement planning is income planning. Once you've got income nailed down, then you can tackle the remaining planning areas. This month's The Wealth Report also focuses on income planning within your overall retirement portfolio, whether that be through investments, annuities, or a blend of both. 

If you've got questions or concerns about your current retirement plan, then feel free to reach out to us for a review. We are set up to work remotely if you're not comfortable meeting in-person for the time being.  Also, if you have friends or family that are worried about their financial plans for the future during this time, then encourage them to reach out to us. We are here to hopefully provide a little clarity during this uncertain time. Just let us know if there is anything we can do to ease some of your concerns going forward. 

Until Next Month,
Jim's signature
  James D. Stillman

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JDS Quick Links


Finding The Right Financial Coach in Retirement: 
Is Yours Still Right for You?

One of the most frequent questions I get asked as a financial advisor is how to know which financial professional is the right choice. Although there's no simple answer, the first thing I always tell folks is to trust your feelings. Aside from all the financial talk, you need to feel that you can trust your advisor, and that they are on the same page as you. Another thing to remember is that the advisor that got you to retirement may not be the right advisor to get you through retirement. It's extremely important to understand the difference between advisors that help you "accumulate wealth" and advisors that help you "protect and distribute wealth". In retirement, it's vital to guarantee income and protect assets from too much risk, in my opinion.

Another important thing everyone should ask a potential advisor is what their ideal client profile looks like. This is important because there are different kinds of advisors, with different areas of expertise that should be used at different times of your life. Not every advisor is suited to serve clients in your particular phase of life.

The Wealth Report:

Investing for Income

Investing for income is generally he modus operandi of a retirement portfolio. That's because the so-called "accumulation phase" ends and the "distribution phase" begins. In other words, retirees stop focusing on getting rich and become more concerned with paying their bills and living a comfortable lifestyle. 

Income investing is different from growth investing but should still practice a similar strategy of diversification. The goal is to develop two or more streams of passive income so you can retire from work and let your portfolio supplement other forms of reliable income, such as Social Security and a pension.

By building a strategic income-oriented portfolio, retirees can draw a steady stream of income without having to liquidate a large portion of their assets. Through due diligence, risk management, conservative spending and a bit of luck from the stock market, retirees may have funds left over to serve as an inheritance and their legacy. 

All content is intended for informational purposes only. Any guarantees are for insured products only and are dependent on the claims paying abilities of the insurer.  All investments carry some risk and you should be advised by your personal financial advisor before implementing any strategies discussed, as they are not suitable for everyone. James D. Stillman is an Investment Advisor Representative of JDS Wealth Management Corporation and AE Wealth Management. 

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