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Plan All of Retirement’s Needs
by felix badea
Retirement planning shouldn’t
focus solely on where to take
that long-awaited vacation.
That’s just some of the advice
from a Boynton Beach, Florida, investment
advisor representative
working right in the middle of one
of the state’s chosen destinations for
retirees living out their Golden Years
beachcombing, golfing, lunching,
sunbathing and volunteering. Along
with retirement’s opportunities come a few serious planning
issues one must accommodate to make its dreams a reality,
indicates Kevin DeMayo of Wealth Group, Inc.
“My goal is to educate my clients on all the aspects of retirement
planning,” he said. “Unfortunately, most people
that do retire spend more time planning their vacation than
they do actually planning the financial aspects of retirement.
They truly have to have a full picture if they are going to get
to have the retirement they want.”
That includes learning much more about Social Security
than is printed on the quarterly statements issued by the
agency. It includes learning strategies to maximize the lifetime
value of these benefits, he said. It includes a wake-up
call regarding the potential cost of health care as one grows
older. It includes an honest assessment of whether the thusfar
accumulated assets will be enough to maintain a chosen
lifestyle and if not, an identifying of what can be changed
without regret or bitterness.
Providing this level of planning is the reason DeMayo began
his own firm. His
1983 start in financial
services was as a stock
broker. At the time, he
recalls, he loved the job;
couldn’t wait to get back
to work on Monday
mornings, he said. But
as he matured and his
knowledge increased,
he realized he could
provide much better
service to clients if he offered them a long-term investment
approach rather than just the chase of returns trading stocks.
In 2000, he went independent.
His firm has a reasonable minimum. His test of a client is
one based on personality: He takes on clients he likes whom
he thinks will trust his advice.
“If I don’t think we can have a relationship based on trust,
then I know it won’t work between us,” he said. “What really
happens with my clients is that they are not buying a
product; they are not buying a brokerage firm. They are buying
me. DeMayo takes a “client centered” approach allowing
him to understand people on a deep level. His style allows
him to understand the challenges and dreams that is unique
to each person he meets.
Wealth Group, Inc., 2240 Woolbright
Road, Suite 324, Boynton Beach, FL 33426
www.wealthgroupinc.com