3 Things To Do If You Ever Want To Retire

Nick Yokley, an Executive Partner at Advocate Financial Partners, teaches the team of new agents about the different types of life insurance available in the marketplace today. 

Executive Partner Nick Yokley, shares with us 3 things that are vital to every retirement plan if you ever want to get there. ​Retirement is a stage of life that everyone looks forward to, but few plan for consciously. His unique perspective sheds light on actionable steps you can take today to make life more enjoyable later. 

By Emma Bradford
March 30th 2019 

1. Get a harness on your health 

"Wealth is nothing without the health to enjoy it"

My siblings and I watched how hard my dad worked his whole life. It was tough for us to have to convince him that it the time for him to retire might be coming soon. We were worried that if he didn't retire now he wouldn't be able to get the chance to enjoy the fruits of his labor.  

Nick Yokley (center), Mike Rice (right)

"Secure your health with the right plan"

Matt Ruddick (left), Nick Yokley (right)

A recent study looked into seniors knowledge of Long Term Care policies. The study showed that 82% of seniors know that they will need some form of long term care. Surprisingly, only 20% of them have actually purchased a policy insuring themselves for it. That means that 62% of seniors realize that they will need this care, but have not yet purchased a policy to assist them financially.

2. Purposefully plan your finances 

"The key is to Plan, Protect, and Preserve"

All too many of the people that I talk to each day say "Oh I have everything taken care of". When the reality of their plan is much too diversified. No one person knows all of the information that will be needed, should something happen to them.  They think that because the wheel isn't broken there is no need to fix it. My approach doesn't center around fixing the wheel, but making it run better.  

Nick Yokley (left), Chris McMath (right)

"The way that you plan for retirement now looks a lot different than it did when your parents did"

Nick Yokley (front), Jim Horvath (back)

Investment vehicles and how you use them have changed. One of the most powerful of those vehicles is life insurance. Those who adapt and plan won't need to depend on the government for social security, or continue working until they are 70. They will be able to actually use the money that they saved their whole lives and enjoy it. 

3. Do #1 and #2 early so you can focus on finding your passion

"Peace of mind comes from taking care of your health and wealth first" 

It's everyone's least favorite topics to actually step back and analyze themselves on. Managing & maintaining your health, and putting a solid financial plan in place. The good news is, once you take a real look at what you are doing and where you are at, you can set a goal of where you want to be, and put a plan in place to get there! That is what I get to help people do everyday, and I love it.    

Nick Yokley (left), Brad Rackshe (right)

"Start planning earlier, you will have less stress later on!"

Nick Yokley (left), Chris Yokley (right)

Sometimes I find clients who are well into retirement and still are working a full time job. They are worried about dealing with the complicated systems of Medicare and Social Security. Their whole lives they have let their employer worry about their 401(k) and health plan. Since they have never done these things on their own, they are nervous to start and end up continuing to work.