Frequently Asked Questions

Cloud Financial, Inc & Cloud Investments, LLC FAQ

Have a retirement-related question? We have the answer.
Check out these FAQs and give us a call today for more information!

When and how should I turn on SS?
 It’s different for every person. Depending on if you are a widow/widower, married or divorced or single for life, there may be different options available to you when considering turning on social security. It may be beneficial to consult with a social security professional to determine what’s best for your specific situation.

When am I eligible for Medicare?
65 is when you are first eligible. If you continue to work and have insurance coverage through your employer, you can delay and you will have a special enrollment period once you retire.

Have I saved enough to retire or when can I retire?
This is one of the most common questions we get. This is different for every person depending on the goals they have set. It’s important to consult with a professional to discuss your retirement goals to set an appropriate retirement date.

Should I or when should I start reducing the risk in my investments?
Typically, you should start paying close attention to your level of risk at least
five years out from retirement. At Cloud Investments, LLC, we take a RiskFirst®
Approach to monitor your risk ensuring that it aligns with your retirement goals. However, depending on income needs and amount saved this can vary from person to person.

Do I need a trust?
Depending on the situation, some people absolutely need a trust. If you have a child receiving disability benefits and you have them named as a beneficiary this could interrupt their benefits. Another example of where a trust may be beneficial, is if you are concerned about an heir not utilizing their inheritance wisely. Other instances for the need of a trust could be due to the size of an estate, concerned beneficiaries will disagree about use of assets, want to avoid probate, etc.

How do I make sure I don’t outlive my money and become dependent on others?
Having a detailed retirement plan can give you a solid foundation to base your retirement on. Consider spending needs, income sources, investments and cash to build a plan that gives you a high probability of success to meet your goals.

Should I consider opening a Roth IRA to reduce the amount of RMDs when I turn 72?
This is a concern for a lot of people. First, estimate what you think your RMDs will be using a reasonable rate of return based on your risk tolerance. Once you have this estimate, determine if you will be required to take out more than you need to supplement your retirement income. If you do have to take out more than you need, it may be beneficial to speak with a professional to see if a Roth conversion plan may be right for you.

How do I make my assets grow while still providing income?
 In order to continue growing your assets while in the income phase of retirement it is important to assign different objectives to your assets. This means earmarking assets for things like income, growth, protection against inflation, tax efficiency, etc. This is why it is important to meet with a financial professional to make
sure your assets are positioned in a way to meet your retirement goals. 

What are the fees/costs associated with becoming a client?
For investments, we are paid an investment advisory fee depending on how the value of assets are under management. This annual fee is billed monthly and includes: ongoing account monitoring, investment advice, client reviews, investment selection, and overall customer service.

What is an advisor’s obligation to the client?
At Cloud Investments, LLC we hold ourselves to the fiduciary standard. This means that we are bound legally and ethically to put our clients’ needs above our company’s needs. We strive to provide you with the best service while prioritizing your retirement goals and needs. 

Cloud Financial, Inc & Cloud Investments, LLC

Complimentary Consultations | Fiduciary Care | Locally Owned