Financial Advisor Daniel Shub Goes The Extra Mile, Maximizing Social Security Benefits For His Hundreds of Clients
The Ukraine-Born, Michigan-Based Retirement Expert Integrates These Into a Guaranteed Retirement Income Strategy Focused On Long Term Growth
Troy, MI – November 6, 2013 – The formal dissolution of the Soviet Union at the end of 1991 was a celebrated moment in world history, but Daniel Shub, who grew up in the Ukraine and later emigrated to the Detroit area in the U.S., personally experienced a little known economic downside when his home country once again became independent. As the country changed its currency several times, most people lost their life savings.
“My grandmother had enough money to live the rest of her life on, the equivalent of $40-50,000 U.S. dollars,” says Shub, who was 18 at the time and studying IT at the Lvov College Technical Institute. “Then one day everyone woke up to find that the government had shifted its currency and all her savings were gone. She only had enough left to buy a few loaves of bread.”
Actively involved in the financial services and insurance industry for the past 16 years, Shub—an independent advisor and retirement expert and President of Troy, MI-based Shub & Company—equates that frustration with the devastation he saw in 2001-2002 and 2008 as many retirees and impending retirees were blindsided by abrupt economic downturns and lost much of their savings. And along with that, their dreams of a happy, secure retirement.
“These people had plans for their retirement and then their life changed when they lost 30-40 percent of their portfolio quickly. They couldn’t retire anymore, so they had to go back to work and face the day to day struggles they had hoped to avoid,” he says. “I don’t want my clients to go through that.”
Shub, who launched his career in the financial services industry while working as a successful independent insurance agent in the late 1990s, has helped hundreds of clients and their families avoid this fate by helping retirees and aspiring retirees preserve their wealth via innovative approaches. Complementing these with retirement strategies that deliver predictable and consistent results, Shub has helped his clients look forward to and enjoy lengthy retirements with confidence.
Incorporating as Shub & Company in 2012 after years as an independent advisor, Shub is a member of the Million Dollar Round Table, the National Ethics Association and the National Association for Fixed Annuities. He has also been chosen as one of the world’s leading experts in Retirement Income Planning to be featured in a book with renowned motivational speaker and author Brian Tracy entitled “The Winning Way.” Shub’s innovative strategies are designed to address the unique modern reality that people are living longer — but the downside of this positive trend is fresh concerns about outliving one’s savings. Included in his arsenal of essential strategies are I.L.I.P (Inflation Laddered Income Planning), Guaranteed Lifetime Income Planning and Evaluating Required Minimum Distribution.
One of the steps Shub takes in his planning process that sets him apart from other advisors is helping his clients maximize their Social Security benefits. He hosts three or four free seminar events in his region per month, and many are devoted to this topic – one that many advisors steer clear from because there is no extra personal financial benefit to helping clients understand the way Social Security works. It’s all part of the reason Shub transitioned some years ago from strictly selling insurance – though he built a successful Farmer’s insurance franchise in the years after taking over a Detroit area office in 1997. “At some point,” he says, “I just realized that while selling auto and home insurance provides a nice income for me and my family, at the end of the day I didn’t feel I was making any real difference in the lives of my clients. Financial planning is more of a relationship business while selling insurance is just about transactions.”
Another crucial part of Shub’s role as financial advisor is helping clients make the psychological shift from the accumulation phase of their lives to the distribution phase. “All their lives they were taught to put money aside and save it. The financial world is so geared around making more money on investments, and that’s what they’ve been focused on for 20-30 years. But now they have to adjust and think in terms creating a plan to make sure it will last. That’s where we come in and offer them peace of mind.”