Mehran Rad discusses the risks of retirement
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-mehran-rad-founder-president-of-r-ap-financial-discussing-risks-of-retirement/
Mehran Rad, founder of R&AP Financial, discusses retirement risks with host Mike Saunders. Mehran shares his background, from growing up in North Carolina to transitioning into the financial services industry after experiencing layoffs post-9/11. Tune in to gain valuable insights on navigating retirement risks and financial planning strategies.
Longevity risk is a critical factor to consider in retirement planning. Mehran explains advances in technology and modern medicine have significantly increased life expectancies. Mehran noted that the average life expectancy for a 60-year-old male is around 75 years and for a female is about 80 years. These figures have risen over the years due to factors such as family history, lifestyle choices, diet, exercise, and advancements in healthcare.
It is important to recognize that when Social Security was established in 1935, life expectancies were much lower, with men expected to live until 61 and women until 65. This highlights a significant shift in life expectancies over the years, emphasizing the need for careful consideration of longevity risk in retirement planning.
Mehran stressed the significance of understanding longevity risk in retirement planning, as it can greatly impact financial stability during retirement. With people living longer, retirement funds need to last for an extended period, potentially 10, 15, or even 20 years beyond the traditional retirement age.
To mitigate longevity risk, Mehran recommended strategies such as reducing risk in portfolios, minimizing fees, and lowering taxes to ensure more funds are available for retirement. He also emphasized that the core of retirement planning should focus on generating lifetime income to support individuals throughout their extended retirement years.
In summary, the discussion on longevity risk underscores the importance of individuals carefully considering their life expectancy, healthcare needs, and financial planning to ensure a secure and stable retirement. Advances in technology and medicine have extended life expectancies, making it essential to incorporate longevity risk management strategies into retirement planning efforts.
Mehran shared “If you don’t do things the right way and the right timing, it’s just not going to work. So you need to have that qualified person, uh, uh, helping you guiding that process.”
About Mehran Rad
Mehran Rad is an Investment Advisor Representative with a passion in helping retirees, and those approaching retirement, to avoid the common financial mistakes of retirement through comprehensive financial planning.
As a Fiduciary, Mehran works diligently with his clients to help them take control of their financial future through education and use of financial strategies designed to help them with the critical areas of retirement planning, including:
- Retirement Income & Social Security Planning.
- Tax Minimization Strategies.
- Investment & Risk Management Strategies.
- Estate & Legacy Planning.
Mehran started in real estate development and investment back in 1988 and has been in the financial service industry for the last 22 years. He is a graduate of Guilford College with a BS degree in Business and a minor in Economics. Mehran has passed the NASD Series 65 (Investment Advisor Representative) and has met all requirements for Life insurance and Long-Term Care licenses in several States.
Mehran grew up in Chapel Hill, NC, and is a big Tarheels fan. Soccer has been a big part of his life as he played in college, and several years after. All three of his boys have played professionally for teams such as Sporting Kansas City, Hartford Athletic, Huntsville FC, and Portland Timbers.
Outside of the financial world, Mehran enjoys walking, golf, hiking the Arizona trails, and watching soccer, but above all, he loves spending quality time with his family.
Learn More: https://www.retirementap.com
