Ron Cook discusses market loss protection: safeguarding investments.
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-ron-cook-owner-of-cook-tax-retirement-discussing-market-loss-protection/
The importance of having a clear purpose for money in financial planning is stressed in this episode. Mike Saunders and Ron Cook discuss how individuals often approach them with various financial products, such as annuities or investments, but emphasize the need to understand the purpose that these products serve.
Ron Cook explains that knowing the purpose of each financial product is crucial because it enables individuals to make informed decisions about their money. For instance, if someone has an emergency fund, they must determine if the amount they have saved is sufficient and why they arrived at that specific amount. This knowledge ensures that individuals have enough funds to cover their bills and unexpected expenses, particularly during challenging times like the COVID-19 pandemic.
Furthermore, Ron Cook highlights the significance of having a guaranteed income. He emphasizes how some clients find security in having their money locked into a pot, which provides them with a sense of stability. They can spend all their money in one month, knowing that they will receive another check the following month. This guaranteed income offers peace of mind, unlike other players in the financial industry who may not provide the same level of security.
Ron Cook emphasizes the significance of this peace of mind, particularly when compared to other investment options that involve playing the interest game with banks, insurance companies, credit unions, or investment firms. Without the right implementation strategy, these options can be risky and cause problems for individuals.
Ron shared: “When you have a cut in income because of a market; you have a market dip and all of a sudden, you’ve got to pull out money and there’s a loss in your account, that’s a problem. But honestly, with clients that we deal with, we have no reaction from people because their money is in a nice pot and that pot’s locked in. It’s good. And they’re getting a guaranteed income.”
Ron also added: “People that have the most fulfilling retirements are those that don’t have the concern of running out of money, avoid big market dips, and have a low tax bill.”
About Ron Cook
Ron began his career in the insurance and financial industry in 1988 and has included banking, mortgage origination, and retirement income planning.
Throughout his career, he has learned that if you help people address their concerns, you will have a gratifying business. Steering people toward a more stable and predictable retirement is his mission, as he continuously strives to provide better strategies to procure the greatest amount of income for his clients while preserving the integrity of accumulated assets.
Ron’s true passion is spending time with his wife and four children. He also enjoys golf and boating.
Learn More: https://cooktaxandretirement.com/
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