Financial Expert Rick Parkes Offers Helpful Tips To Build Your Best Retirement Plan

Written by on December 29, 2012

Rick Parkes, financial and retirement planning expert discusses three straightforward strategies to help families grow towards a stronger financial future.

Raleigh, NC – December 29, 2012 – Rick Parkes, CRFA®, co-founder of Diversified Estate Services, recently discussed how time impacts your retirement money, and offers ways to help build a strong retirement plan.

“I find that time, math and money rarely move in the same direction,” remarked Rick Parkes. “It is quite strange because the whole idea of compounding interest and capital appreciation are based on a rate of return compounded over time. In fact, the math for appreciation is based on four variables: Present Value, Future Value, Rate of Return and Time.”

“Logically, time, money and math should be aligned and making retirees (and soon–to-be retirees) money – right?”, asked Rick. “Well, Maybe. If you take risk with your money values can go up — but they can also go down. Market historians and verified data offer long term rates of return that are very attractive but when the economy gets rough, money can (and has been) lost, which is not helping folks and their families grow towards a stronger financial future.”

Rick Parkes offered three simple strategies that can help those who are saving and planning for retirement stay on a responsible path:

  • Diversify between many different types of assets – Avoid biases such as, “I only invest in mutual funds, or just stocks and bonds,” and do not build in a bias towards products you may not understand, such as: “I don’t believe in life insurance.” Allow yourself to be open to all possibilities – they all may have a lot of merit in a well-designed plan.
  • Do not try to time anything. Instead build a great plan based on sound retirement planning principals and then stick with it. Allow time to work for you and do not allow your emotions to work against you and your money.
  • Take the time to review. Keep track of where you are, what you have and where you want your retirement planning to go. That is the ultimate key to utilizing time and achieving planning success.

    • For more information on this topic, or to learn how Rick Parkes can help you, please visit www.desllc.org

    About Rick Parkes:

    Rick is co-owner of Diversified Estate Services, LLC and Retirement Investment Strategies a comprehensive financial advisory firm.  Diversified Estate Services, LLC and Retirement Investment Strategies is a firm that specializes in assisting individuals to gain clarity, balance and focus which empowers them with confidence. He teaches the powerful knowledge of retirement planning to attorneys, CPAs, and the general public.

    Rick Parkes industry designations include Life Underwriter Training Council (LUTC) and Certified Retirement Financial Advisors (CRFA).  Rick is also a radio talk show host.

    Rick’s firm is a proud member of the Better Business Bureau with the highest rating A+, where he is pleased to instill customer confidence of nearly 1,000 consumer’s inquiries. Rick is also a member of the National Ethics Bureau, where he successfully passed the Ethics Check System™, a rigorous eight-point background check for criminal, civil, and business violations.

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